Asia to account for 50% of Prada sales
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Prada expects that its sales in Asia will account for half of its total sales within one year, while sales in China will be 3 times of current sales in the next 2-3 years.
Deputy Chairman Carlo Mazzi said, “Currently 40 percent of our business comes from Asia, it will rise to 50 percent in the coming year, and I do not think China’s economy will be much affected by the current European economic crisis.”
Prada Brand completed its listing at Hong Kong stock market in June 2011. It also held its spring and summer fashion show in January, 2011 in Beijing.
The brand announced that its sales for the first six months of 2011 rose 38 percent year on year to €223 million.
In addition to Prada Brand, other global fashion brands, such as Burberry, Christian Dior, Rebecca Minkoff are also keenly eyeing the Chinese market.
Questions & Answers
Q.What percentage of Prada's business currently comes from Asia?
What percentage of Prada's business currently comes from Asia?
Forty percent of Prada's current business is generated from Asia. The company anticipates this figure will increase to 50 percent within the next year, driven by growth in the region.
Q.When did Prada complete its listing on the Hong Kong stock market?
When did Prada complete its listing on the Hong Kong stock market?
Prada Brand completed its listing on the Hong Kong stock market in June 2011. This move likely supported its strategic focus on the Asian market for future growth.
Q.How much did Prada's sales increase during the first six months of 2011?
How much did Prada's sales increase during the first six months of 2011?
Prada's sales for the first six months of 2011 rose 38 percent year-on-year. This growth amounted to a total of €223 million, indicating strong performance during that period.
Q.Which other fashion brands are also focusing on the Chinese market?
Which other fashion brands are also focusing on the Chinese market?
Other global fashion brands, including Burberry, Christian Dior, and Rebecca Minkoff, are also keenly observing and targeting the Chinese market, similar to Prada's strategy.
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