PRADA accelerates international expansion
Prada is looking to open 90 stores this year as demand for its high-end product continues to soar. Full year sales are forecast to be almost Euro 2 billion for the year to January 31st, while earnings before interest, tax, depreciation and amortisation is expected to be close to Euro 500 million.
The Italian luxury brand aims to accelerate its store expansion to around 90 stores new openings in 2011. Prada is also expected to proceed with an initial public offering by the end of the month, after scrapping the move four times in eleven years.
The group, which also owns the Miu Miu, Car Shoe and Church’s brands, could have a valuation of at least Euro 7.5 billion based on current estimates. Ealier this month, Prada announced it would open by summer design offices in Paris in Hong Kong to keep up with the fast changing international luxury market.