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Prada Reports 29% Sales Gain in First Half

In Industry News, Reports, What's New by Accessories StaffLeave a Comment

Milan–Prada Group is the latest luxury goods company to report a rebound—an increase of 29% in its first half, largely due to increasing demand in Asia.

Sales rose to 930 million euros ($1.23 billion) in the six months ending July 31, the company said Wednesday.

Asia “still remains the most dynamic market,” Prada said, adding sales in the area surged by 70%. Revenue rose 41% in the United States and 37% in Europe.

The closely held fashion house, which operates Miu Miu, Car Shoe and Church’s brands, didn’t report figures for profit. In June, Prada said it was following market trends to “evaluate the most suitable moment” to sell shares in an initial public offering.

Prada and Miu Miu brands were “especially” successful, the company said. Prada sells its leathergoods, apparel and accessories in more than 70 countries.

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