PRADA sales in China to triple in the next two to three years

Deputy chairman of PRADA Group, Carlo MazziI confirmed this week his company expects sales to triple in the next two to three years. “About 40% of our business is from Asia, and it may rise to 50% next year,” Mazzi said. “I don’t think China’s economy will be seriously hit by the global economic crisis.”

Prada’s confidence in China remains high because of strong domestic demand and the country’s ability to increase investment in areas such as infrastructure, which bodes well for growth. For the first six months of 2011, Prada’s Greater China sales (includes Hong Kong and Macau) totaled 223 million euros, up 38% from a year ago and account for about 20% of total sales.

adapted from Red-Luxury.Com