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Prada Financial Group: 2010 Revenue Increased 29% In The First Half Of Last Year.

2010/8/6 15:18:00 37

Beijing time August 4th evening news, according to foreign media reports today,

Italy

Prada Group, a luxury goods company, announced its first half of fiscal year 2010 in.

The report shows that Prada group's revenue in the first half of last year increased by 29% over the same period last year, mainly due to the growth of demand in the Asian market.

Prada

In the first half of July 31st, the group's revenue was 930 million euros (US $1 billion 230 million), the group said in its earnings report.

Prada group did not publish net profit data.

Prada group said

Asian market

"Still the most dynamic market", sales in this market increased by 70% over the same period last year.

Compared with this, Prada group's sales in the US market increased 41% in the first half year, and its sales in the European market increased by 37% over the same period last year.

Luxury goods companies such as French luxury handbags and silk neckties maker Hermes International SCA and Burberry Group Plc, the largest boutique retailer in the UK, have reported that their sales have increased, as consumers are beginning to improve their spending on luxury goods after experiencing the latest recession.

Prada group said in June that the group was tracking market trends to assess when it would be the "most appropriate time" to go public through IPO (initial public offering).

Prada Group operates brand names such as Miu Miu, Car Shoe and Church s, among which Prada and Miao Miao are "special" successes.

Prada group sells luxury goods such as leather goods, clothing and accessories in more than 70 countries around the world.

Supplement:

Prada grew by 2/3 in 2007

Prada group recently said that its revenue grew by about 2/3 in 2007, due to the rapid rise of leather products, accessories and Asian markets.

However, the Italy luxury group, which has many brand lines, has yet to finalize whether it will be able to achieve its listing in 2008.

Prada group's brands include Prada, MiuMiu, CarShoe, Church and so on.

In the 12 months before January 31st this year, Prada group's net profit increased by 65.8% to 126 million 800 thousand euros.

In the same period, sales increased by 14.1% to 1 billion 660 million euros.

Prada's chief executive, said that the listing plan is based on one consideration, that is, listing may be able to push Prada's market sales to achieve greater leapfrog growth.

"We will continue to watch the trend of the financial market cautiously, and we will continue to assess when it will be the best time to list."

Betley said.

Tod 's net profit two digit surge

Italy luxury footwear and leather goods group Tod s said recently that the company's revenue grew by 17.8% in 2007, despite the impact of the downturn in the economic environment, Tod 's still had high confidence in the 2008 market.

Due to the strong demand for high quality footwear in Italy market, coupled with the activity of the whole European market, as of December 31, 2007, under the premise of exchange rate unchanged, several brands of Tod s group including Tod 's, Hogan, Fay and RogerVivier achieved net profit of 78 million 700 thousand euros in 2007.

In the same period, sales increased by 14.7% to 657 million 100 thousand euros.

Excluding interest and taxes, Tod 's group's revenue grew by 11.2% to 126 million 500 thousand euros.

Operating costs account for about 19.7%.

DiegoDellaValle, chairman and chief executive officer of Tod s group, said that in the euro's strong performance situation, the group's revenue and profits continued to achieve two digit growth, indicating that the group finally managed to tide over its business difficulties and increased confidence.