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

Courtesy: AWI

Textiles | On 20th Jan 2017

Australian wool EMI at highest ever level in Au$ terms

The Eastern Market Indicator (EMI) managed to forge ahead by a...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Textiles | On 20th Jan 2017

Xeros to focus on textile sector to develop technology

Xeros technology group plc, the developer and provider of patented...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search