Leather goods sales slightly down at Prada

Italy
Published:  07 August, 2014

The consolidated net revenues of the Prada Group for the six months ended July 31, 2014 amount to €1,750 million, a slight increase compared to the same period in 2013, +1%. The business has been impacted by currency exchange rate fluctuations.

Clothing and footwear performed extremely well with growth of 18% and 23%, respectively, at constant exchange rates (+14% and +19% at current exchange rates). Meanwhile, revenues from sales of leather goods decreased by 1% at constant exchange rates (-5% at current exchange rates) because of the fall in the number of tourists whose spending is more oriented towards this product category. The Men’s segment again enjoyed double digit growth, in line with Group strategy, which aims to develop sales of men’s collections in all geographical areas.

Church’s, +12% at constant exchange rates and +14% at current exchange rates, and Car Shoe, +3% at constant exchange rates and +2% at current exchange rates, also enjoyed positive revenue trends.

Performance in the six month period was conditioned by unfavorable exchange rate trends: at constant exchange rates, revenues grew by 4%.

The Prada Group is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. Its products are sold in 70 countries worldwide through a network that included 566 directly operated stores at July 31, 2014 and a select network of luxury department stores, independent retailers and franchise stores.