Booming results for PRADA in the first half 2011

Italian luxury group PRADA, listed on the Hong Kong Stock Exchange, reported an increase of 21,1% growth in its turnover for the first half of 2011, reaching 1,13 billion euros. Prada reduced its debt from 408,6 million euros in January to 135,2 million d’euros. Prada’s Ebitda jumped by 39,9% to 315 million euros.

Asia Pacific remains the best performing region for Prada Group registering a 35,4% sale increase to 368 million euro. In Europe, sales rose by 17.2%, in the U.S. by 16,4% and Japan with a healthy 8,2%.

Prada plans to open 80 stores within the next three years, especially in Asia, to reach a number of 550 stores worldwide by 2013.