Prada to Open Several New Stores in the Asia Pacific Region

Prada has already operates 326 stores, which are directly managed by designer Miuccia Prada, and Patrizio Bertelli. Asia Pacific provides the fastest growing market for luxury products. Last  year’s  luxury good’s overall growth  in Asia Pacific  resulted  in  a higher revenue  which was due to the tourists  inflow in great numbers , and luxury goods craze of the consumers.

Italian fashion house Prada is observing the market where there is a large disposable income,  and after scrutinizing the most attractive areas they seem to have concluded that Asia Pacific is THE reason to be. Fashion house Prada said that the increase in last year sales resulted in a net income which almost doubled. Its net profit, sales surge throughout world in these 6 months would be 150.7  million Euros.

The luxury-goods maker has already prepared an upcoming list in Hong Kong which is the business hub in Asia Pacific region, it includes China too which is the largest earning place as Prada owns Miu Miu and Church’s which owned is by 95% of share  in the family members except five percent which is owned by Italian bank Intesa Sanpaolo SpA .

Luxury brand Prada is planning to raise its profile in Asia and Hong Kong to attract affluent consumers so that they could sell more of their products. Italian fashion house Prada SpA plans to open 80 stores by the end of the year. Its net income has increased 150.4% to EUR250.8 million. Prada filed a web proof information pack on the Hong Kong stock exchange’s website Friday. It would offer Hong Kong about $2 billion as public offer.

Via: Bloomberg


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