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Prada achieves satisfying results in first six months

25
Sep '12
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Leather goods once again recorded the highest rate of growth, +52% and now represent 61% of consolidated sales.  Clothing and footwear recorded increases of 17% and 14%, respectively; their significant contribution of € 564 million to sales for the six-month period reflects client appreciation of the Group’s stylistic excellence.

Investment

The international expansion of the retail network continues both in mature markets, where the Group’s direct presence is not yet complete, and in emerging markets, where the Group brands are either absent or underrepresented.

During the period, investment in retail network expansion represented 74% of total capital expenditure that was € 122.7 million.

The 28 new stores opened during the period included stores in new markets such as Morocco, Brazil, Mexico and Ukraine.

At July 31, 2012, the retail network comprised a total of 414 DOS, including 263 Prada stores, 102 Miu Miu, 43 Church’s and 6 Car Shoe.

Patrizio Bertelli, Chief Executive Officer of Prada Spa commented “The Prada Group has again achieved extremely satisfying results in the first six months of 2012.  Our growth rates are among the highest in the sector and have been achieved in a very tough economic environment.

“The market continues to reward Prada’s unwavering commitment to style and dedication to quality. We are aware of the negative market trend but, counting on the strength of our brands and our ability to pursue our objectives, we look forward with confidence to the near future without altering our strategy based on achieving our long-term growth targets.”

The PRADA Group is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories.  The Group also operates, under licensing agreements, in the eyewear, fragrances and mobile telephone sectors. 

Prada Group


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