Prada reports China sales growing at a fast pace
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Sales of luxury Prada items in China have exceeded last year’s levels since the brand’s physical stores reopened following the coronavirus pandemic.
The Chinese appetite for luxury items has rebounded strongly despite the impact of Covid-19, even as global sales are hit with a decline of 35 percent.
“To date, the Prada Group’s sales in China have already largely exceeded the levels of 2019, showing double-digit growth since the beginning of the year,” said Prada CEO Patrizio Bertelli.
Prada’s growth within China has exceeded more than 60 percent since March, with a sales record hit on August 25, this year’s Chinese Valentine’s Day.
The firm’s projections suggest the trend will continue in the coming months, according to Bertelli.
Questions & Answers
Q.How do Prada's sales in China compare to their performance last year and in 2019?
How do Prada's sales in China compare to their performance last year and in 2019?
Sales in China have already exceeded last year's levels since stores reopened. The Prada Group's sales in China have largely surpassed 2019 levels, showing double-digit growth since the beginning of the year.
Q.What is the specific growth rate for Prada in China since March?
What is the specific growth rate for Prada in China since March?
Prada's growth within China has exceeded more than 60 percent since March. The firm also hit a sales record on August 25, which was this year's Chinese Valentine's Day.
Q.How does Prada's performance in China contrast with its global sales trend?
How does Prada's performance in China contrast with its global sales trend?
While Prada's sales in China show strong growth and have rebounded, global sales for the brand are currently experiencing a decline of 35 percent. China's market is performing significantly better than the global average.
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