Day: January 11, 2021

Most Well-liked Women’s Trend Accessories

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You will increase in your understanding of the significance realisation plays in the design process. The main focus will probably be on the designer …

Prada sees full recovery to 2019 levels in December

The second half of 2020, despite being impacted by ongoing store closures averaging 9 per cent of the network, saw a progressive recovery in sales, culminating, for the retail sales, in a full recovery to 2019 levels in the month of December, the board of directors of luxury goods company Prada said on the performance of the Group in the second semester.

In the second half, the impact of the pandemic on the retail channel was limited to an average of -6 per cent (at constant exchange rates). Europe and Japan were penalised by the lack of tourist flows, while the Americas, the Middle East, Russia and, above all, Asia Pacific recorded positive performances, particularly China with +52 per cent, the Group said in its commercial and financial update.

“Wholesale sales reduced in line with the company strategy, launched in 2019 to protect the images of the brands and which has been maintained despite the difficult economic situation. Currently, the retail channel accounts for around 90 per cent of total sales. Careful management of quality and product mix has contributed to margin recovery and offset the deficit incurred in the first half, thus ending FY2020 with EBIT in positive