Yesterday, Italian luxury label, Prada S.p.A., said it made an operating profit in its last financial year that surpassed its own forecast
By Jennifer Denby
Prada, designed by Miuccia Prada - youngest granddaughter of founder Mario Prada - said that preliminary figures showed operating profit for the financial year ended January 31 had improved from last year.
Results have outdone its own forecasts that were made when Prada’s budget was initially completed.
The fashion house, one of the most influential on the fashion scene, attributes the success to a rise of more than 14 percent in retail network sales.
Last year, Prada invested over 120 million euro in its development plan, which was self-financed.
Prada made a net profit of 99 million euro in the previous year, down 22 percent on revenue of 1.65 billion euro in comparison with the year before.
Edited by Chris Farnell