Luxury label Prada (1913) which also owns miu miu and Church’s shoes, said today first half earnings surged 59.5 percent to 286.4 million euro (HK$2.86 billion) as retail expansion continued.
Sales of Prada brand products in Asia Pacific alone increased nearly 36 percent on year to 442.9 million euro, the company said. miu miu uk brand sales in the region amounted to 85.4 million euro, up 34.7 percent.
Group revenues grew 36.4 percent on year to 1.54 billion euros, the company said today in a statement to the stock exchange.
Revenues from the Asia Pacific were 532.4 million euros in the first six months, an increase of 43.9 percent the highest growth across all geographical regions in which the company operates.
Asia Pacific revenues also exceeded all other regions. Revenues from Europe amounted to the second highest at 348.6 million euros, while Italy with revenues of 259.3 million euros, rounded up the top three.
Sales of the Prada brand brought in 1.23 billion euros, up 80.9 percent year on year and the miu miu bags label generated 245.9 million euros, up 16.1 percent.
Among product categories, leather accounted for the largest segment in terms of miu miu outlet, brining in 943 million euros, up nearly 62 percent on year.
Retail net sales overall, pulled in 1.2 billion euros, up by 47.2 percent compared with the six months ended July 31 last year.
The Italian label operates 414 stores operated by itself. Same store sales increased 19 percent compared with the six months ended July 31, 2011. - Staff Writer
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