Prada plans 120 store openings and expects 9% turnover growth
Prada has recently confirmed it expects its 2014 turnover to grow by 9% and its profitability to improve ”significantly” by 2016. Within the next 3 years, Prada plans to open 120 stores globally, of which 50 dedicated to men’s. In 2014, Prada’s retail expansion includes 50 new mono-brand stores. In the U.S., Prada will pursue to develop its already strong e-commerce, as well as its men’s retail expansion.
Prada has also confirmed its entry this year into South Africa and flagship store opening in Saudi Arabia. The company also sees growth opportunities in China, Indonesia and Australia.
In 2013, Prada Group reported a turnover increase of 8,8% to a total of 3,59 billion euros (+13,3% at constant exchange rates), led by +11% growth of the Prada brand. Prada Group’s performance to 31st January 2014 registered an EBTIDA increase of 8,6% (1,14 billion euros) and +5,6% increase EBIT to 932,2 million euros.