PRADA first half sales jump 36 percent, despite crisis

Italian fashion group Prada said Monday that 2012 first-half sales leapt by a provisional 36.5 percent amid strong demand in most regions of the world, and Asia in particular.

Prada recorded revenues of 1.547 million euros ($1.9 billion) in the first six months of the year, a gain of 36.5 percent from the same period a year earlier, the company said in a statement. The results were driven by soaring sales in the Asia Pacific region, which gained 45 percent, as well as a significant sales increase in Europe (up 37.3 percent), Japan (up 34.2 percent) and the Americas (up 31 percent).

Prada flagship store, Dubai

“The growth of the business was driven mainly by the Prada and Miu Miu brands which grew by 40.5 percent and 23.6 percent, respectively,” Prada said.  The luxury brand continued to develop its retail network in the first half of the year, opening 28 new shops and bringing the total number of directly operated stores to 414 at the end of July.

The results “were achieved in an extremely difficult economic environment with the market continuing to reward Prada for its unyielding commitment to style and the pursuit of quality,” the statement said.