Prada closed the 2013 fiscal year with growing revenues of 9%.
The Italian fashion house listed in Hong Kong recorded preliminary revenues of 31 million euros in the year ended 3.586 January. At constant exchange rates, the increase was 13%. Sales of the wholesale channel fell by 7% (-6% at constant rates), while those of directly managed stores (where sales reached 2.996 million euros) show growth of 12%.
Geographically, Europe saw a limited 5% increase in sales, while Asia and the Americas both saw increases of 11%. Japan rose 24% at constant exchange rates, although the yen's weakness led to growth of just 1% at current exchange rates. The Greater China area contributed 826 million euros (+15% at constant exchange rates) to the group's 2013 revenues. Prada opened 79 new stores last year, bringing the number of directly operated stores (DOS) to 540 at the end of January, including 330 Prada, 150 Miu Miu, 52 Church's and 8 Car Shoe.
In terms of brands, Prada did well (+11%) and Miu Miu (+1%) and Church's (+3%) also grew. On the other hand, the Car Shoe brand was down, influenced by the contraction of wholesale.
“2013 was the fourth consecutive year of strong growth – declared Prada CEO Patrizio Bertelli -. We maintained a trend among the highest in the sector and continued consistently to pursue our retail development objectives, in a context unfavorable by exchange rate volatility and the continuing negative economic situation in Europe. We have also launched an investment program in Italy for the strengthening of production structures and for the training of human resources, aimed at the continuous improvement of quality and the growth of industrial culture. The investments made, combined with the important marketing initiatives to support the image of our brands, allow us to look forward to further progress in 2014 with confidence”
At 14 the title gains +0,55% on the Hong Kong Stock Exchange.
