.Prada's Patrizio Bertelli could easily tout Prada’s first-half figures with a resounding, “I told you so.”
MILAN — Patrizio Bertelli could easily tout Prada’s first-half figures with a resounding, “I told you so.”
In the six months ended June 30, the group reported a net profit of 97 million euros, which compares with a loss of 180 million euros in the same period last year. “In the first half, we reached break-even with Miu Miu, which is going through a turnaround, adapting products to different requirements, and it has a huge potential to express,” Bertelli said. “I strongly believe in the second half it will increase its margins and that we will see strong results in two years. Miu Miu is extremely successful in China and [South] Korea and we will extend this positive [business] to other markets.
Bertelli defended the “know-how and industrial capability” of Church’s Northampton plant and said the brand suffered in the first half due to a dependence on the European market — 90 percent of its business — and the store closures in the U.K. “After the pandemic, it will return to pre-COVID-19 levels,” he predicted.
Leather goods remained the group’s core business, representing 55 percent of sales, and this category was up 51 percent to 703 million euros. Compared with 2019, sales were up 4 percent. Sales in the Americas rose 163 percent to 232 million euros, and gained 53 percent compared with 2019. The region in the first half of 2021 represented 18 percent of total revenues, and shopping was driven by locals.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Athleta Launches Fitness Platform AthletaWellThe social networking platform is part of the athletic apparel and accessory brand’s long-term growth strategy to reach $2 billion by 2023.
Leer más »
Simone Biles Has Her Teammates’ Support: “She’s Not a Quitter”'I am her teammate, I am her best friend.”
Leer más »
Prada, Burberry, and More Are Massively Discounted at Nordstrom's Anniversary Sale$26 $65 (60% off)
Leer más »
Chinese Property Titan Teeters as Investor Confidence FadesChina Evergrande Group’s debt-fueled growth powered its ascent, before problems started to mount.
Leer más »