Prada to push ahead with June IPO -- bad timing?

With luxury stocks off to a horrific start to the year -- Coach (NYSE: COH) and Tiffany (NYSE: TIF) already down in the neighborhood of 20% -- this might seem like a strange time for Prada, one of the world's top high-end fashion houses to take itself public.

But according to the Wall Street Journal, Prada's IPO is still scheduled [subscription required] for June. Miuccia Prada and her husband, Prada CEO Patrizio Bertelli, own 95% of the company, and had previously said that market conditions would be a factor in the timing of the IPO.

Assuming that Prada's IPO plans are indeed unfazed by the luxury market bloodshed, there are two possible scenarios:

1. Prada plans to go ahead with a June IPO because it believes the market will be kinder to luxury goods stocks by then, which would be bullish for the industry now.
2. Prada plans to do the IPO in June because raising money after that will only be more difficult.

Remember -- the insiders at Prada have a better read on this market than just about anyone, and the IPO schedule/details are an important barometer of the industry's health.