ITALY: Prada to open 260 stores over next three years
By Katie Smith | 25 May 2012
Italian luxury fashion house Prada plans to open around 260 stores worldwide over the next three years.
However, a spokesperson for Prada told just-style that within the global rollout "BRICs will have an important presence", adding: "Our plan is to open an average of 80 stores a year."
Last September, the company said it expects to open 80 stores a year on average until 2013, with about 50% of them in Asia.
The spokesprson confirmed that of the 260 stores expected to open worldwide, 12-15 of those will be in China in 2012.
Last year Prada began trading on the Hong Kong Stock Exchange, with chief executive Patrizio Bertelli saying the move heralded "a new wave for the luxury goods sector". He added: "We're positive that the greater China region is going to be one of the most interesting prospects in the luxury industry."
In March, the company posted a 72.2% jump in full-year net profit to EUR431.9m (US$572.9m).
Sectors: Apparel, Footwear, Retail
Companies: Prada
View next/previous articles
25 May 2012 -
25 May 2012 -
Currently reading -
ITALY: Prada to open 260 stores over next three years
25 May 2012 -
25 May 2012 -
Related research
Global Luxury Retailing: Market Size, Brand Strategies and Competitor Performance
Following a steep but short decline in sales in 2009 the global luxury market is thriving once more. Affluent consumers are returning to premium brands, and those with newfound wealth are discovering them for the first time. This report forecasts tha...
Luxury Goods Retailing - Global
“We are on the cusp - in two respects. Longer term trends herald the usurpation by Asia of Europe as the largest luxury goods market by revenues. More immediately, and worryingly, financial crises in Europe and the US threaten a stalling of the globa...
This report analyses the Global market for Luxury Goods in US$ Billion by the following product segments- Luxury Watches, Menswear, Womenswear, Luxury Cosmetics, Leather Goods, Fragrances, Jewellery, and Shoes. Annual estimates and forecasts are pr...
Related articles
Spotlight on...Making UK manufacturing work
The feasibility of reviving the UK manufacturing sector and moving garment production back onshore has been a key topic of discussion among British brands and retailers. While niche and high-end firms like cashmere specialist Johnstons of Elgin and countrywear brand J Barbour & Sons are synonymous with UK-based production, it can also be done for high street brands on a large scale, according to industry experts.
There are currently no comments on this article
Be the first to comment on this article