Prada clocks 24.9% growth in 2011 sales

30 Mar '12

5 min read

The other markets also enjoyed strong rates of growth: Europe +16.8%, the United States +20.2% (+26.1% at constant exchange rates) and Japan which confirmed itself a solid market with 16.2% growth (+ 11.9% at constant exchange rates).

Brands and products
Growth was driven mainly by Prada and Miu Miu which both enjoyed growth of around 25%.

All product categories contributed towards the Group's net revenue growth. Leather goods (+40.7%) now account for more than 56% of consolidated sales while clothing and footwear (+6% and +11.3%, respectively) confirm the Group's ability to lead the way in all soft luxury goods categories.

During the year, the Group continued to expand its network of Directly Operated Stores (DOS), increasing its presence both in high growth markets for the luxury goods industry and in more mature markets not yet fully covered by the retail network.

The Group opened 75 new DOS in 2011 and refurbished and extended existing stores. The new stores were opened across 17 different countries, including Russia and the United Arab Emirates where the Group did not have a direct presence. At January 31, 2012, the retail network included a total of 388 DOS.

Prada's remains committed to art in its various forms of expression, as a means of interacting with society as a whole, and this is reflected in the identity of the Group brands. The agreement with the Conseil Economique, Social et Environnemental, allowing the Palais d'Iéna in Paris to host Miu Miu fashion shows, is in keeping with this spirit as was the “24 hour Museum” event held there with Francesco Vezzoli.

The Group has also confirmed its strong relationship with Fondazione Prada which inaugurated Ca' Corner della Regina, and historic building on the Grand Canal in Venice, as its new exhibition venue in 2011.

On a different note but very important in terms of communications and increasing brand awareness, the Group will once again support “Luna Rossa” in its challenge for the 34th edition of the America's Cup to be held in San Francisco, California in 2013.

Patrizio Bertelli, Chief Executive Officer of Prada Spa, is extremely satisfied with the results achieved and commented “Our Group enjoyed its best ever year, an important phase that saw the successful listing of Prada Spa shares on the Hong Kong Stock Exchange. In recent years, we have focused on our brands and on developing the retail network, pursuing a strategy that has enabled us to cope well during difficult times for the market while also making the most of the best opportunities available at times of growth. What has been achieved so far with drive and commitment will form the basis for further growth in future.”

“We will aim to consolidate the Group's position as a leading luxury goods business on all international markets and will continue to draw on innovation, quality and respect for tradition.”

The PRADA Group- is amongst the world's leaders in the luxury market, and it operates through its Prada, Miu Miu, Church's and Car Shoe brands in the production and marketing of high-quality bags, leather goods, footwear, ready-to-wear, and accessories.

The Prada Spa

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