PRADA revenues increase by 30% in the first nine months
Luxury group PRADA announced this week that its nine-month profit tripled due to major sales growth in Asia. Net income rose to 156 million euros and revenue increased 31 percent to 1.39 billion euros. PRADA registered sales growth in all markets, rising 51 percent in Asia, excluding Japan, 27 percent in the U.S. and 20 percent in Europe.
Revenue increased in both the wholesale and retail channels, with stores directly operated by Prada posting 44 percent growth, Prada said. Excluding new stores and currency fluctuations, retail sales climbed 23 percent. Sales by third- party distributors rose 9 percent, Prada said.