Prada Reports 75% Profit Boost in First Nine Months
Prada has reported a significant boost in profits and sales for the first nine months of its fiscal year. The luxury fashion house has seen a 75% increase in net profit to 273.2 million euros, with both Prada and Miu Miu brands registering increases of over 25%.
Sales have risen to 1.730.4 million euros, marking a 25% increase from the same period last year. The multi-brand channel's sales have remained stable. Asia-Pacific continues to be Prada's main market, with a 39% sales increase. Prada's own stores, accounting for 75% of total sales, have grown by 36%. The company has invested 178.1 million euros so far this year, primarily for the development of its distribution network. All geographical areas have experienced double-digit growth.
The new CEO of the Prada Group, Andrea Guerra, will succeed Gianfranco D'Attis, who is leaving the company at the end of the month.
Prada's strong performance in the first nine months of the fiscal year reflects the brand's resilience and growth potential. With a new CEO at the helm, the company looks set to continue its positive trajectory.
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