Prada reports progressive recovery in sales

Worldwide
Published:  12 January, 2021

The Italian luxury fashion label said that, despite being impacted by ongoing store closures averaging 9% of the network, it observed a progressive recovery in sales in the second half of 2020.

Prada said that retail sales in December recorded a full recovery to compared with 2019 levels. In the second half, the impact of the pandemic on the retail channel was limited to an average of -6% at constant exchange rates. According to the company, Europe and Japan were penalised by the lack of tourist flows, while the Americas, the Middle East, Russia and, particularly, the Asia Pacific recorded positive performances, with China sales up 52%. Currently, the retail channel accounts for around 90% of Prada’s total sales.