Prada announces rise in sales from first half of 2018
The first six months of 2018 saw a rise in sales for the Italian luxury fashion brand, Prada.
The company’s retail sales increased by 9.7% at constant exchange rates in the first half of the year.
With the rise in sales, revenue hit €1.54bn (US$1.8bn) – higher than the forecast €1.52 ($1.77bn).
Milan-based Prada saw its net income increase by 10.7% in the review period, reaching €105.7mn ($123.29mn).
“Prada Group achieved very satisfactory results in the first half of 2018 with revenue growth across brands, markets and products, along with margin progression, despite continued investment in product quality and innovation, visibility of the brands and the digital evolution,” stated Patrizio Bertelli, CEO of Prada.
“We are always working to reshape the Prada Group to adapt to the rapid changes in society and to interpret the spirit of new generations without losing our brand integrity.”
“Today the results of this transformation are visible and supported by many positive signs from the market, confirming the soundness of our strategic choices.”
“We will continue our path of sustainable growth, based on the creative leadership of our brands and the attractiveness of our retail network, where we see great potential to be unlocked through integration with digital technologies.”
- Fast fashion giant Shein continues to take Europe by stormCorporate Finance
- How Next is expanding its global retail empireCorporate Finance
- WWF Italy and Bain & Co report on sustainable fashion trendsSustainability
- Dubai to Switzerland – hotels where you can pay in cryptoLeadership & Strategy