Prada optimistic despite drop in sales
15/02/2017
Despite this dip, the group said it had seen a “clear improvement” in the second half of the year and “positive results” in January. It added that the decline was in line with market expectations.
Sales were down across all regions. Revenue from Asia Pacific fell 12%, although there was an upturn during the last six months. Prada said the reduction in tourist flows continued to affect its European business, which saw a 5% drop in sales. Revenue also dropped in the Americas (-12%), Japan (-13%) and the Middle East (10%).
With regards to its footwear and leathergoods business, the fashion house revealed that there had been “an excellent market response” to the latest collections. It didn’t provide any figures.
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