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Prada sees full-year revenues soar

Luxury fashion house Prada has reported a 29% increase in revenues for the full year to January 31, 2013.

Group revenues reached €3.29bn (£2.79bn) in the period, while EBITDA climbed 38.6% to €1.05bn as the brand opened a further 78 directly operated stores.

Prada also refurbished and extended much of its existing store portfolio during the period.

As a result, the group’s retail channel made the greatest contribution revenue growth, representing 81.8% of total revenues.

The wholesale channel saw sales increase by 6% over the year.

Double-digit growth was achieved in all markets, with the Asia-Pacific region seeing the most growth, up by 32.9% compared to the 2011 full-year, although Europe also saw a significant increase up by 28.6%.

Patrizio Bertelli, chief executive of Prada, said: “Based on these results and a sound equity and financial structure, we will proceed along our path of growth with further investment on retail network expansion, confident that, general economic uncertainty notwithstanding, the work that has been done over the past few years has laid the foundations for the future success of our business.”  

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