German premium brand ESCADA inaugurated last week its mono-brand store in the Romanian ...
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Prada opened last week two stand alone stores, marking the official entry on the Moroccan ...
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French luxury group PPR, parent company of Gucci, Bottega Veneta, Boucheron has teamed up ...
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French luxury maison Chanel announced the opening of its 6th store in Australia, in the ...
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Italian luxury group TOD'S which includes the Tod's, Hogan, Fay and Roger Vivier brands, ...
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The biggest rally in three years for luxury-goods makers in Europe is fizzling on concern ...
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PRADA desperately searches re-financing solutions
News 05 June 2009
PRADA group, owned by Miuccia Prada and her husband Patrizio Bertelli is seeking urgent solutions for its EUR 1,2 billion lines of financing. A group lead by Intensa Bank is currently looking at ways to reduce debt. At the moment the entire cash flow of Prada goes to the banks. Prada opened 34 new directly operated stores in 2009 so far and has scheduled other openings. We believe Pradas strategy to open directly operated stores in Eastern Europe and South America in the coming 2 years will take its toll and diminish its competitive advantage in front of Hermes and Gucci, the only real competitors.