Prada, the reputed Italian luxury brand, has defied all challenges to post good revenue numbers.
The fashion giant saw its year-on-year (Y-o-Y) revenue jump by 22 per cent to € 1.9 billion in the half-yearly period that ended 30 June 2022.
What makes the numbers noteworthy is that Prada achieved it despite frequent lockdowns and the Russia-Ukraine war.
While the retail sales rose by 26 per cent Y-o-Y to clock € 1.7 billion, the wholesale sales fell slightly by 3 per cent to € 194 million.
Product-wise, ready-to-wear grew by an impressive 32 per cent and footwear soared by 39 per cent. Leather goods saw a decent Y-o-Y growth of 18 per cent during the said period.
The gross profit rose by 32.5 per cent to € 1.5 billion whereas EBID surged by 84 per cent to € 305 million.
Prada’s net cash at the end of the period stood at € 179 million.
The brand, reportedly, said that it continues to invest in creativity, industrial know-how and product innovation – with a long-term perspective.
Founded in 1913 by Mario Prada, Milan-based Prada specialises in apparels, shoes, leather handbags, travel accessories and perfumes, amongst others.
