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 12th Aug 2020

Chinese textile companies' revenues decline in H1

Revenues of major Chinese textile companies with an annual turnover...

Pic: Shutterstock

Textiles | On 12th Aug 2020

Bangladesh's BEZA, Yabang Group sign land lease agreement

Bangladesh Economic Zones Authority (BEZA) recently signed a land...


Retail | On 12th Aug 2020

UK's Baird Group unveils CVA proposals

The Baird Group is the latest UK retailer to launch a company...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

We are staring at livelihood crisis for weavers

Milind Khandwe, Hindoostan Innovation Centre

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Karan Toshniwal, Orange O Tec

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Ritu Ajbani & Neha Agarwal,

Ritu Ajbani & Neha Agarwal

Petit Royal, co-founded by entrepreneurs <b>Ritu Ajbani and Neha...

Ian Burn,

Ian Burn

Camira's expertise goes from farm to fabric and everything in between. The ...

Yogesh Kanani,

Yogesh Kanani

Incorporated in 1999, Purani Textiless Private Limited is a leading...

Jacques Prigneaux, EDANA

Jacques Prigneaux

EDANA has been the leading global association and voice of the nonwovens...

Pierre Wiertz, EDANA

Pierre Wiertz

EDANA, the international association serving the nonwovens and related...

Eric Scholler, Groz-Beckert

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Sonam & Paras Modi, SVA

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao

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

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

August 2020

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

Advanced Search