PRADA reports record results in 2011
Italian luxury group Prada had its best financial performance in its history in 2011 with record results, thanks to Asia, the company confirmed on Thursday. Net income for the Milan group, listed on the Stock Exchange of Hong Kong since June last year, jumped 72.2% to 431.9 million euros in 2011. Its gross operating profit (EBITDA) rose 41.7% turn to 759.3 million and its turnover by 24.9% to 2.55 billion.
The group, which owns the Prada, Miu Miu, Church’s and Car Shoe brands has primarily benefited from a surge in sales of 42.2% to 873 million euros in Asia Pacific, which is the company’s main market.
Prada has focused especially on China where it opened eight stores last year reaching a total of 18 stores new openings in Asia in 2011. Worldwide, Prada Group posted solid the growth, 16.2% in Japan, 16.8% in Europe and 20.2% in the United States.
Prada has been focusing on expanding through directly operated mono-brand stores, with 75 new openings in 2011, reaching a total of 388 stores internationally.