PRADA shows signs of recovery and pursues expansion
PRADA recently reported a 29% increase in revenues for the first half of 2010, reaching a total of EUR 930 million, with sales growing by 70% in Asia, 40% in the U.S. and 37% in Europe. Over 90% of total sales are made by Prada and Miu Miu, while the rest of 10% is made by the other 2 brands of the group Church’s and Car Shoe. The highest growing category of products has been shoes, Prada and Miu Miu selling together a total of 3 million pairs.
The company opened 91 stores this year, among the key locations being: Las Vegas, Singapore, Shanghai. The most recent opening of a PRADA boutique was, this week, in Frankfurt, Germany, with a store covering 250 sqm spread on two floors. Future openings include Doha and Dubai.