Growth for Church’s but decline in tourism impacts P - leatherbiz: Lea Leatherbiz

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Growth for Church’s but decline in tourism impacts Prada

07/08/2014
Luxury group Prada has said a decline in the number of tourists, “whose spending is more oriented towards this product category”, affected its leathergoods sales in the first half of the year.

Group revenues rose 1% to €1.7 billion, while sales in its leathergoods division fell 1%.

Revenues at British leather shoe brand Church’s increased 12% while Italy's Car Shoe recorded a 3% rise.

Prada Group CEO Patrizio Bertelli said: “In the first six months of 2014, the group has operated in a more difficult political and macroeconomic environment than expected with unfavourable exchange rates and a general fall in consumption.

“In the coming months, our priority shall be towards monitoring market trends and performance without interrupting the implementation of our plans for growth. At the same time, we will implement a rigorous cost control program with the aim of protecting margins."

Related stories:

Prada 2014 sales flat but Church’s looks healthy 24/02/2015
Prada CEO warns luxury is undergoing a 'readjustment' 08/12/2014
Falling tourism to blame for Prada’s profit dip 22/09/2014
Peter Kaiser appoints new head of design 01/07/2014
Prada blamed for Parlanti closure 10/06/2014
Confident Prada untroubled by falling revenue 09/06/2014
‘Luxury is back’: Survey shows top brands' value rose 16% in a year 22/05/2014
Another year of growth for Prada and Church’s 13/02/2014
Architect admires “abstract” Prada shoes 02/01/2014
Church’s secures deal to create 150 new jobs in Northampton 16/09/2013
Chanel overtakes LVMH in China luxury leathergoods table 01/07/2013

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