Prada pursues retail expansion with 80 stores planned for 2013
Prada Group has recently confirmed it will pursue the retail expansion of its Miu Miu brand in China, despite the changing market conditions. As for the Prada brand, Donatello Galli (CFO of Prada Group) indicates that 75 to 80 new stores will be opened in 2013, with a focus on Asia, Gulf countries (GCC) and North America. Prada currently operates 196 stores in Asia and 185 in the Western hemisphere. In 2012 alone, Prada Group invested 265 milion euros in retail expansion alone.
After annoucing the opening later this year of its largest worldwide store in Milan covering over 5000 sqm in Galleria Vittorio Emanuele (the site of Prada very first store), Prada also confirmed the acquisition of a historical palace in Florence for 70 million euros. Details of Prada’s future opening in Florence have not yet been announced.