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Asia Pacific region drives strong first-half sales for Prada

Luxury Italian fashion brand Prada has reported strong sales and profits in the first half of its financial year to July 31.

The brand said that strong performances in both the Asia Pacific region and Europe, helped drive revenues in the first six months of 2012 to €1.5m (£1.19m), an increase of 36.5% on the same period a year ago.

Prada’s retail channel contributed to 80.6% or €1.2m (£0.95m) of total sales in the half, compared to 47.2% of sales in the first half of 2011.

Wholesale sales increased by 4.8% during the period, with all geographical regions performing strongly.

The biggest growth in the period was driven by the Asia Pacific region which was up by 45% followed closely by Europe which was up by 37.3%.

According to the business, its Prada and Miu Miu brands were the strongest performing in the half, up by 40.5% and 23.6% respectively.

The group opened 28 new stores worldwide during the period, taking the total number of group stores to 414 comprising of 263 Prada, 102 Miu Miu, 43 Church’s and 6 Car Shoe stores.

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