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Italy Prada Group, A Luxury Goods Supplier, Announced Its Financial Results.

2013/8/10 16:15:00 39

Italy Prada group, a luxury goods supplier, reported on Thursday that sales growth in all regions contributed to the increase in revenue in the first half of this fiscal year. The company will continue to focus on global retail expansion to achieve long-term growth goals. 
Less than six months ended July 31st, the net income of the company was 1 billion 730 million euros ($2 billion 300 million), which is 12% higher than that of 1 billion 550 million euros in the same period last year, according to data released by Prada P. If we use constant exchange rate, this increase should be 15%. 
"P" Prada CEO Bertelli Bertelli said that Prada will continue to build its long-term growth strategy on the international expansion of the balance of the retail network, which will be efficient in all regions and seek long-term quality and style innovation. "Patrizio" 
Prada group, which listed in Hongkong, has opened 30 stores in the first half of 2013. By July 31st, the total number of stores directly operated by the company has reached 491, according to P. The Asia Pacific region is still the largest market, with an increase of nearly 19% in terms of constant exchange rate. "This is attributable to the significant contribution of Greater China". Prada and Japan also had a 16% growth in the same period. Benefiting from tourists' purchases, the European market also has a 6.7% increase in revenue from a constant exchange rate. 
 Prada pointed out that its retail sector is still the main driver of revenue growth. Revenue in the first half rose 20% to 1 billion 400 million euros, while wholesale channel sales declined by 3%. According to the financial report, the reduction in wholesale sales is due to the "selective strategy adopted by the group, which has reduced the number of wholesale partners by more than 100". 
Other luxury brands including Louis Weedon and Gucci have recently adopted a strategy to increase revenue by strengthening retail business, but the result is not very satisfactory. Gucci, named Gucci group, has added 17 new stores in the first half of 2013. These new stores, mainly in emerging markets, helped the company's retail outlets reach 446 by the end of June. But the company's sales increased by only 1.6% over the same period. 
 MOET & CHANDON Hennessy Louis Weedon group opened a flagship store in Venice and Munich in the first half of the year, but the sales volume of the fashion and leather Department dominated by Louis Weedon was only 1.2% higher in the first half of the group.