Prada sales are growing despite declining demand in the US – Kommersant

Today the Italian fashion house Prada Group reportedthat in the third quarter, sales increased by 10% compared to the same period last year, and in the first nine months – by 17%, to €2.9 billion. Sales of Prada brand products have increased by 13% since the beginning of the year, and sales of the Prada Group brand Miu Miu – by 49%.

The Prada Group managed to achieve these results despite the decline in demand in the Americas region – since the beginning of the year, sales there have decreased by 1%. In turn, in the Asia-Pacific region sales have increased by 21% since the beginning of the year, in Europe by 17%, and in the Middle East by 12%. Growth was noted across all Prada Group product categories: ready-to-wear by 32%, leather goods by 7% and footwear by 16%.

After the publication of results for the third quarter and the first nine months of the year, Prada Group shares rose 2.5%.

Evgeny Khvostik