Prada Groupreports a 12 percent increase in first-half sales, boosted by demand in Asia, revenue totalling 1.73 billion euros ($2.3 billion) in the six months through July. Analysts predicted 1.75 billion euros according to the average of three estimates compiled by Bloomberg. Sales climbed 15 percent, excluding currency moves. Best performing markets for Prada in first half 2013: Asia-Pacific (+19%), U.S. (+16%), Japan (16%) and Europe (6,7%).
Prada Group CEO Patrizio Bertelli’s statement about a ‘more balanced retail expansion’ may indicate the company’s growing concern that over-exposure could lead to a gradual loss of luxury positioning and desirability.