Italy Luxury Group Prada Net Profit Fell Nine In The First 26.3% Months.

Italy brand Prada was founded in Milan in 1913.

The unique talent of Miuccia Prada lies in its unremitting pursuit of new ideas, the integration of curiosity and cultural interest in knowledge, and thus pioneers.

It is understood that the Asia Pacific region sales continued to slump, the strength of the dollar weakened the US market, and the leather goods market was bleak. These factors affected the Prada SpA of Italy luxury group in the first nine months of this year.

According to the news, as of the first nine months of October 31st,

Prada net profit fell 26.3%, to 235 million 100 thousand euros ($261 million), compared with the same period last year, the value of 319 million 300 thousand euros (427 million 800 thousand U.S. dollars).

The group was positively affected by the performance of the direct store. The company's revenue grew by 1.2% to 2 billion 580 million euros ($2 billion 860 million), compared with 2 billion 550 million euros ($3 billion 410 million) last year.

Prada CEO Patrizio Bertelli said: "in the past few months, we have seen the deterioration of the macroeconomic environment: especially the continued fluctuations in the financial market, the continuous rise of social panic and the change of political structure, which made consumers reluctant to consume, and the number of tourists in some countries decreased correspondingly.

Against this background,

The field is also changing in a subtle way. We are further enhancing business and product oriented innovative measures to enhance our relationship with increasingly complex consumers.

At the same time, we have further achieved cost control and can measure all business process reviews. "

Patrizio Bertelli added: "in the medium term, we are optimistic and confident about the future of the market segments. There is no doubt that our brand and leadership are unique. Our extensive retail network has covered the whole world. This will be the key factor to face the challenges ahead."

The two brands of Prada and Miu Miu of Prada group launched the lowest half off promotions in Hongkong in November 27th, with no deadline.

As the worst performing luxury group in the past two years, Prada's share price has dropped to a new low. Since the beginning of this year, the stock market value of Prada has evaporated 37%.

Insiders believe that

The move is aimed at boosting the consumption power of local stores in Hongkong, because mainland consumers in the past year are more inclined to buy luxury goods in Japan, Europe and other places. Sales in Hongkong, China have been sluggish, resulting in a decline in earnings and so on. For the declining Prada, consumer trust Du Zheng is gradually weakening. At this time, the introduction of large discount activities is not the right time, or further damage to the brand image.