Home / Knowledge / News / Fashion / Prada Group H1 FY20 revenues drop to €938 mn

Prada Group H1 FY20 revenues drop to €938 mn

Aug '20
Pic: Shutterstock
Pic: Shutterstock
Prada Group, an Italy-based global leader in luxury goods industry, reported decline in its net revenues to €938 million in first half (H1) period for fiscal 2020 ended on June 30, 2020 compared to revenues of €1.5 billion in same period last year. Group incurred a net loss for the six months of €180 million compared to income of €155 million in H1 FY19.
“The first half of 2020 saw a temporary interruption of our growth trajectory which, in a situation of progressive control of the pandemic, we are confident will gradually resume from the second half of 2020, when our store network will again be fully operational,” Patrizio Bertelli, Prada Group CEO, said in a press release. 
“The excellent response of local consumers after the re-openings, confirms the desirability of our products and the strong relationship with our customers, which has been further strengthened by our continued focus on digital technology,” Bertelli said.
Gross margin during H1 FY20 were €660 million (H1 FY19: €1.12 billion). Operating expenses reported a loss of €743 million (€975 million). Group’s EBITDA for the period fell to €155 million (€491 million).
H1 FY20 retail sales were down 32 per cent to €835 million (€1.23 billion). While, wholesale plunged 71 per cent to €91 million (€314 million) during H1 FY20.
In Europe, group’s revenues fell 41 per cent to €228 million. The region saw strong double-digit growth in January and February interrupted by lockdowns. However, group reported a good response to store re-openings from local consumers but still impacted by the lack of tourists.
For Asia Pacific, revenues were down to €370 million. Strong double-digit sales growth since April in Mainland China, while South Korea and Taiwan ROC were registered. 
In Americas revenues were €96 million with double-digit growth in January and February but interrupted by lockdown in the later months. Revenues in Japan slipped 39 per cent to €113 million where the group is seeing a recovery driven by local consumption. Whereas, in Middle East revenues dropped 44 per cent to €28 million showing mixed trends with Dubai still suffering from the lack of tourism but other markets in the region sustained by better local consumption.

Fibre2Fashion News Desk (JL)

Must ReadView All

Pic: Shutterstock

Textiles | On 10th Aug 2020

Govt changes status of textile research associations

In consonance with the Government of India's vision of “Minimum...

Pic: Shutterstock

Retail | On 10th Aug 2020

EU retail trade volume level returns to pre-COVID level

In June 2020, a month marked by some relaxation of COVID-19...

Pic: Shutterstock

Textiles | On 10th Aug 2020

Pak TPB to rationalise textile sector tariff structure

Pakistan's Tariff Policy Board has decided to rationalise the tariff...

Interviews View All

Software Firms, Head honchos

Software Firms
Head honchos

AI / robotics may challenge existing long value chains

Rajiv Sirohi, Shara

Rajiv Sirohi

‘Portugal is taking away a major share of the mill made sector.’

Anshul Sood, Oceedee

Anshul Sood

‘Indian footwear market is nascent and largely a trend follower’

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Priyanka Salot,

Priyanka Salot

The Sleep Company was established to upgrade the sleep quality of every...

Alphonse Reddy,

Alphonse Reddy

Bangalore-based Sunday designs and makes mattresses and accessories that...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Davide Vigano, Sensoria

Davide Vigano

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

July 2020

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

Advanced Search