ITALY: Prada posts 31% annual sales growth
Italian fashion house Prada has ended fiscal 2010 with consolidated revenues of EUR2bn (US$2.7bn), showing 31% growth.
The company's retail sales rose 44% during the period, with like-for-like sales rising 22%.
In percentage terms the company's Japanese sales grew most at 48%, followed by the US at 29% and Europe at 18%.
Patrizio Bertelli, chief executive of Prada, said: "These results confirm that the retail network expansion is a winning strategy and exceeding the threshold of two billion revenues is a target which now allows us to set further challenging goals."
Prada last month announced plans to list the company's shares on the Hong Kong Stock Exchange.
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