Prada witnesses robust growth in 2018; investment on digital assets to continue

by Apparel Resources News-Desk

19-March-2019  |  1 min read

Prada
Image Courtesy: videoblocks.com

The Italian luxury fashion brand Prada’s financial results as on 31 December 2108 witnessed a revenue increase of 6 per cent when compared to 2017, amounting to € 3.14 million.

The brand, during the same period, saw a growth of 7 per cent in its own retail channels and controlled wholesale growth of 1 per cent.

While authenticating on the same, Patrizio Bertello, CEO, Prada S.p.A., averred “Prada S.p.A. is entering a “new phase of strategic renewal.” The company’s board of directors had recently met to approve its Consolidated Financial Statement for 2018.

The Asia Pacific region witnessed the maximum growth at 10 per cent, with Japan and the Middle East running close at 7 and 5 per cents, respectively.

Among Prada S.p.A.’s brands, Prada clocked the maximum growth rate at 7 per cent for the same period. Another of Group’s fully owned subsidiary, Miu Miu, registered an increase of 2 per cent in sales.

“It is clear that the digital transformation has radically altered relationships with consumers, making them ever more aware of their purchasing choices,” said Bertello.

He further added that the company will continue to invest in all their digital assets to create an increasingly immersive brand experience with a unique and engaging involvement at all touch points.

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