Home / Knowledge / News / Apparel/Garments / Prada clocks 24.9% growth in 2011 sales
Prada clocks 24.9% growth in 2011 sales
30
Mar '12
The Prada Spa Board of Directors met at the company premises in Terranuova Bracciolini and approved the separate financial statements of Prada Spa and the consolidated financial statements for the year ended January 31, 2012.

In 2011, the PRADA Group successfully pursued its strategy of growth on the global luxury goods market. For the second consecutive year, by combining an ongoing search for stylistic quality and innovation, the international expansion of its retail network and constant attention to efficiency, the Group achieved one of the highest growth in the sector and a further, significant improvement in profitability.

Consolidated net revenues totaled Euro 2,555.6 million, a 24.9% increase (+26.4% at constant exchange rates) on the Euro 2,046.7 million reported in 2010.

EBITDA amounted to Euro 759.3 million, a 41.7% increase on 2010, and represented 29.7% of net revenues.

EBIT amounted to Euro 628.9 million, a 50.3% increase on prior year, and represented 24.6% of net revenues.

Net income increased by 72.2% from Euro 250.8 million in 2010 to Euro 431.9 million this year and represented 16.9% of consolidated net revenues.

Cash flows from the share capital increase from the IPO and, above all, the high level of operating cash flow enabled the Group to finance its capital investment during the year and achieve a positive net financial position of Euro 15.8 million at January 31, 2012.
Earnings per share rose from Euro 0.10 to Euro 0.17 per share.

The Board proposes payment of a dividend of Euro 0.05 per share. This proposal will be subject for approval to the Annual General Meeting to be convened on May 22, 2012 in Hong Kong.

Distribution Channels
In line with Group strategy, sales growth has been driven by the retail channel where a 37.6% increase on 2010 (+39.2% at constant exchange rates) was achieved thanks to newly opened DOS and like for like growth.

Like-for-like growth of 23% was recorded in 2011, in excess of +20% for the second consecutive year.

The retail channel now contributes 77.9% of the Group's net revenues, a significant increase on the 70.8% contributed in prior year.

Coherently with the selective strategy now followed by the Group for some years, the wholesale channel contracted by 5.2% while contributing 22.1% of consolidated net revenues.

Brands and products
All regions performed well with an increasingly important role played by the Asia Pacific market which was once again the leading market, both in absolute terms and for growth: it generated net revenues of Euro 873 million (+42.2% compared to 2010 and +45.1% at constant exchange rates) while its contribution towards consolidated net revenues rose from 30.4% to 34.6%. Net sales in the Asia Pacific area were almost entirely generated by the retail network which included 115 DOS at January 31, 2012. 8 of the 18 new DOS opened by the Group in the Asia Pacific area are located in China.


Must ReadView All

Textiles | On 19th Aug 2017

New fabric interfaces to interact with computers

As computer capabilities evolve, new fabric-based interfaces are...

Textiles | On 19th Aug 2017

Brazilian cotton prices drop in first fortnight of August

Cotton prices dropped in the Brazilian market in the first fortnight...

Apparel/Garments | On 19th Aug 2017

Target to acquire Grand Junction for faster deliveries

Target Corporation has announced that it has agreed to acquire Grand...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search