Prada Group

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Press Release


Date of publication Title

  • 2017-10-16 Prada Rong Zhai, a historic mansion in central Shanghai reimagined as a flexible site for cultural activities, opens to the public.

    Prada Rong Zhai, a historic mansion in central Shanghai reimagined as a flexible site for cultural activities, to open to the public.

    On October 17, 2017, Prada opens Prada Rong Zhai, a meticulously restored historic early twentieth-century mansion in central Shanghai. Designed for the distinguished family of Yung Tsoong-King a century ago, Rong Zhai is one of Shanghai’s finest Western-style garden villas. In 2011, Milan-based global fashion brand Prada began working with renovation specialist Architect Roberto Baciocchi on an epic revival of the stunning home. The result is as an emblem of Miuccia Prada and Patrizio Bertelli’s admiration of Chinese aesthetic heritage and a deep commitment to the city of Shanghai. The mansion serves as a unique site for the company’s diverse activities in China. Prada has extensive experience in rigorous historic preservation projects around the world, including the renovation of sections of the Galleria Vittorio Emanuele II, the grand nineteenth-century shopping arcade in Milan, and palazzo Ca’ Corner della Regina, an opulent baroque-era palace on the Grand Canal in Venice reconfigured as an art space. The restoration of Rong Zhai combines that experience in historic building, an abiding belief in the value of traditional handcraftsmanship, and a dynamic collaboration between Western architects and Chinese scholars and artisans. The result is a true hybrid: a dialogue between Milan and Shanghai that stands as a testament to the family that commissioned it, the numerous architects and artists who shaped it, and the teams of Chinese and Italian specialists who brought it back to its rightful grandeur.

    The restoration campaign aimed to both repair damage and reinstate the historic appearance of the building’s interiors and exterior, while also making necessary structural reinforcements and functional updates. A team of Italian and Chinese specialist craftsmen was hand-selected to undertake the conservation of the building’s many ornamental and structural elements, including plasterwork, wooden paneling, stained glass, and multiple types of decorative tile. Whenever possible, fabrication and installation techniques were modeled on the traditional methods and materials utilized by the craftsmen who originally built Rong Zhai over a century ago. Deemed a Jing’an district cultural relic in 2004 and designated one of Shanghai’s remarkable historic buildings in 2005, Prada Rong Zhai is now opened to the public through a preservation effort rooted in a reverence for detail and handcraft, and the enduring relevance of historic architecture.

    Prada Rong Zhai opens to the public from October 17 to November 12, 2017. On display now is an exhibition showcasing the villa restoration process as well as some of Prada’s past architectural explorations, including the restorations of Galleria Vittorio Emanuele II in Milan and Ca’ Corner della Regina in Venice overseen by Architect Roberto Baciocchi , and Epicenters in New York, Los Angeles, and Tokyo designed by OMA and Herzog & de Meuron, respectively.

    “Rong Zhai has a deep connection with my family. My father, Mr. Rong Zongjing, first bought this place in 1918 after he made a successful career; he sought this place to facilitate his business management and to live with the family. After nearly 100 years, the residence was reduced from a magnificent house to an obsolete building. This renovation has been carried out in a very careful way — even the walls and stained glass were given special care to regain their original appearance. Upon completion, this residence was endowed with a brand new look, which is full of vitality and liveliness. I would like to extend my heartfelt thanks to Prada Group for bringing back the charm and grandeur to the residence. Thanks to its elaborated planning, the residence will surely become a fashion landmark of Shanghai and welcome elites and celebrities from everywhere. I believe that my father, were he still alive, would be much delighted to see it.”
    — Chairman H.C. Yung

    “Prada has always drawn inspiration from the arts, not least of all architecture. The study of the practical, commercial, and historical implications of buildings has played an essential role to the development of Prada’s practice, as we have been deeply involved in both contemporary architectural experimentation and meticulous historic preservation. Separately, China — the country itself and the European perception of it — has maintained a valued place in the imagination of Prada. As our various cultural activities have expanded both through the fashion company and the Fondazione Prada, we have searched for opportunities to extend our architectural and otherwise artistic explorations back to China. It was this imperative that led us to Rong Zhai, a historical landmark that can appropriately manifest our abiding commitment to Chinese culture and the European/Chinese dialogue.”
    — Miuccia Prada and Patrizio Bertelli

    * Yung Tsoong-King (1873–1938) was a famous tycoon, known in his day as the Flour King of China and remembered as a self-made entrepreneur with strong ties to Shanghai and the surrounding area.

    FOR FURTHER INFORMATION: PRADA PRESS OFFICE +39 02 541921 UFFICIO.STAMPA@PRADA.COM

    PRADA RONG ZHAI NO.186 NORTH SHAAN XI ROAD, JING'AN DISTRICT, SHANGHAI

    THURSDAY–SATURDAY 10AM–9PM SUNDAY, TUESDAY, WEDNESDAY 10AM–5PM CLOSED ON MONDAY

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  • 2017-09-21 PRADA SS18 WOMEN’S FASHION SHOW

    In June, the Prada Spring/Summer 2018 Men’s show space – designed by AMO and 2x4 - featured new designs in overlapping graphic panels both on the runway and via social media channels (“a story within a story within a story”). On September 21, 2017, the Spring/Summer 2018 Women’s show takes on the same space, only now immersed in depictions of women drawn by women. For the new graphic elements, Prada worked with eight visionary artists, spanning the generational spectrum, each of whom has illustrated women in a uniquely empowering way — Brigid Elva, Joëlle Jones, Stellar Leuna, Giuliana Maldini, Natsume Ono, Emma Ríos, Trina Robbins and Fiona Staples — and with the archive of Tarpé Mills, creator of the first female action hero. Within this diversified space, drawn lines expand, meeting contemporary with classic comic design and collaging blatant activism with more understated subversion that test fixed categories. Women’s fashion inherently tries to evaluate the depiction of femininity and feminism, looking outside itself to tell its own story. This new narrative works to find intersections between existing arcs, and to offer new possibilities and visions.

    Credits: Concept and design, 2x4 New York City

  • 2017-09-08 Prada Group H1 2017 Results

    PRADA spa

    PRESS RELEASE
    PRADA SPA APPROVES GROUP RESULTS TO 31 JULY 2017

    Extensive Group restructuring continues

    Rapid progress in digital transformation

    Patrizio Bertelli: "We are in a phase of profound change; we are committed to growth but we will always remain true to our identity"

    Highlights


    • Total net revenues of €1,469 million, down 5.5% on H1 2016
      1. Very good performance in RTW for both Prada and Miu Miu
      2. Excellent results in all markets for the new Leather Goods collections – work
        continues to widen the offer at all price ranges
      3. Reduced use of markdown sales
      4. Positive business results in both eyewear and fragrances
      5. Considerable headway in the implementation of the digital strategy: the ecommerce retail sales channel is growing while collaboration with strategic e-tailer partners is widened
    • Gross Margin remains high and stable at 72% thanks to relentless focus on industrial efficiencies
    • Cost structure under control despite major investments in digital and communications
    • EBITDA of €279.6 million at 19.1% of net revenues (21.2% in the first half of 2016)
    • EBIT of €166.8 million at 11.4% of net revenues (13.8% in the first half of 2016)
    • Net Income of €116 million at 7.9% of net revenues (9.1% in the first half of 2016)
    • Strong operating cash flow generation of €208 million (from €267 million in H1 2016) and net working capital in line with 2016 levels

       

    Patrizio Bertelli, CEO


    “The complex task of restructuring our operating processes, which is aimed at providing the Group with the tools needed to access an increasingly competitive market, is progressing well; however, more remains to be done.

    Having one of the best known and most respected international brands, with undisputed leadership in design and innovation, means we have to make choices in the pursuit of growth that privilege the preservation of the cultural and stylistic fundamentals that our brand identity is based on.

    The positive trends in Ready-to-Wear, which has been growing over many seasons, are confirmed as well as in the new products in the Leather goods segment which have had an excellent reception in all markets. We remain committed to creating a balanced offer in terms of price ranges.

    Our digital transformation continues apace, enhanced by the launch of e-commerce in all markets, including China. Meanwhile our dedicated team has expanded significantly to complete the digital PRADA spa presence of Group brands and to pursue the important aim of offering a seamless online and off-line shopping experience.

    The extensive overhaul of Prada Group’s cost structure creates operating leverage that will allow Group profits to benefit rapidly from revenue growth. In the meantime, we will continue to protect cash generation by keeping Net Working Capital and investments under control.

    We are confident that our action plan is the best way to return to steady growth in revenues and margins, albeit aware that benefits may take longer than expected. Our cash flow and Balance Sheet remain solid, allowing us to focus on value creation for shareholders over a broad time horizon.”

    Results for First Half 2017


    Milan, 8 September 2017 The Board of Directors of Prada S.p.A meeting on the above date, has examined and approved the consolidated financial results for the six month period to July 31st, 2017.

    Net Revenues Revenues in the period totalled €1,469 million, a decline of 5.5% (5.7% at constant FX) compared to the same period in 2016

    Geographical breakdown: 

    • Asia Pacific bucked the trend with revenues in line with H1 2016, up 0.4% (down 0.6% at constant FX). Greater China delivered a positive performance, with sales up 5.2% at constant exchange rate and growth also seen across Macau and Hong Kong
    • The Americas market contained the decline compared with 2016, with sales down just 3.7% (down 5.8% at constant FX). A positive performance for the period was seen in both Mexico and Canada
    • The European market was down 7.7% (down 6.6% at constant FX), penalised by the strength of the euro, especially in the second quarter, as well as the stabilization of the UK market
    • Market conditions in Japan remained unchanged, with sales declining by 14.2% at current and constant exchange rates, highlighting weak consumption by both domestic customers and tourists
    • The Middle East registered a negative trend down 11.7% (down 13.1% at constant FX), due to ongoing geopolitical tension which impacted tourist flows within the region 

    Economic and financial results – The cost review program, launched last year and applied to all operating processes, has continued to deliver concrete results, despite the increased costs in support of the digital and communications strategy.

    Gross Margin has grown to 74.1% (from 72.2% in the previous six months) and benefits from improved quality of sales, supported by reduction in markdown sales

    The sales network optimization plan continued: the Group opened 6 sales outlets and closed 13, during the period. As of July 31, 2017, the group's retail network consisted of 613 DOS

     

    EBITDA amounted to €279.6 million, representing a margin of 19.1% of sales (21.2% for H1 2016)

    EBIT of €166.8 million, representing a margin of 11.4% (13.8% for H1 2016)

    Net income of €116 million, representing 7.9% of consolidated revenues (9.1% in 2016)

    The Group generated strong operating cash flow of €208 million (from €267 million in H1 2016) during the period. Net working capital remains unchanged compared to FY levels, despite a slight increase in inventory, ready for more efficient restocking of retail inventory.

    Investments for the period amounted to €105.6 million and were allocated both to enhancing the retail network, where the Group has completed 100 projects aimed at bringing the image of the stores in-line with new design concepts, and to the strengthening of the supply chain to further develop the Group's industrial and logistics capabilities.

    Net Financial Position at 31st July 2017 was negative at €223 million following the payment of dividends amounting €307 million.

     

    For further information, please contact:

    Prada Press Office
    +39.02.541921
    ufficio.stampa@prada.com

     

    PRADA Group

    The PRADA Group (HKSE Code: 1913) is a world leader in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. In 2014, Prada acquired 80% of Marchesi srl, owner of the historic Milanese patisserie founded in 1824. The Group also operates, under licensing agreements, in the eyewear and fragrance sectors. Its products are sold in 70 countries worldwide through a network that includes 613 directly operated stores (DOS) (as at July 31st, 2017) and a select network of luxury department stores, independent retailers and franchise stores.

     

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  • 2017-07-31 PRADA AND GALERIES LAFAYETTE HAUSSMANN, PARIS

    Prada and Galeries Lafayette Haussmann Paris
    Special window displays and two exclusive pop-ups
    from July 31st to August 20th 2017

    Milan, July 31st, 2017 – Prada presents special window displays and two pop-ups, featuring women’s bags and accessories and a selection of men’s accessories and ready-to-wear collections, respectively, from July 31st to August 20th in Galeries Lafayette, Paris’s iconic department store.

    In addition to the eleven large and prestigious windows on boulevard Haussmann, Prada also occupies the four windows at the menswear entrance plus a window on rue de Mogador devoted to perfumes. The Prada "takeover" is completed by two pop-ups on the ground floor in the two main entrances to Galeries Lafayette plus the branding of the skybridge linking the two buildings, decorated with a special giant version of the Prada’s iconic Trick Robots, available by special order.

    The windows project consists in a maxi billposting: a sequence of posters highlighting Prada’s view of woman’s role in contemporary society completely covers the window spaces and the building’s façade. Closely linked with Prada’s 2017 Autumn/Winter runway show and its setting, indoor and outdoor boundaries overlap and influence one another. The window dressing assumes a domestic vibe through the use of wood panelling which divides the spaces into two clearly distinctive sectors highlighted by the use of strong, contrasting colours. On one side is the product with a ‘private’ attitude; on the other, posters which ‘publicly’ communicate the brand content.

    The pop-ups, too, have this contrast. On one hand, the woman’s pop-up presents a ‘private’ setting, a round, shell-like video wall, a kind of lantern which draws attention to while cordoning off the snug, intimate retail space decorated in iconic pastel green. On the other, the men’s pop-up is completely visible through a grille structure that delimits the space to offer a ‘public’ setting in which the black-and-white chequered flooring is the only distinctive element.

    For further information:
    Prada Press Office
    Tel. +39.02.541921
    e-mail: ufficio.stampa@prada.com

     

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  • 2017-07-04 MIU MIU CLUB RETURNS TO PARIS

    Continuing a tradition established in celebration of their Croisiere collections, Miu Miu presented Croisiere 2018 with a new iteration of the Miu Miu Club in Paris on July 2nd, 2017 at 9pm. The club opened with a performance by self-described “fetish rapper” Tommy Genesis, followed by a fashion show set to a soundtrack by Frederic Sanchez. The night continued with an informal dinner by chef Chicco Cerea of Da Vittorio and DJ sets by Siobhan Bell, Valentine Fillol-Cordier, and Slick Woods.

    The location was the Parisian seat of the historical Automobile Club de France—the world’s first automobile club—reinterpreted by AMO. Originally founded in 1895, the club was moved several years later from a location near the Paris Opera to an august site on the Place de la Concorde originally designed by the preeminent Ange-Jacques Gabriel for King Louis XV and reimagined by Gustave Rives, a French architect known for his “opulent eclecticism.”  “L’Auto” comprises spaces for recreation, education, entertainment, grooming, drinking, and dining. Most notably, though, the club played an important role in the development of the automobile. In 1906, for instance, l’Auto organized the races that evolved into Formula One.

    For Miu Miu Club 2017, the space was customized for innovation over incubation. AMO transformed the library into a car-themed lounge that reconciles the progressive spirit of the club with the grandeur of the late Rococo. Classic boiserie contrasted with hot pink carpet installed for the fashion show; 19th-century ornamentation set off metal tables inspired by the details of classic cars. The dining rooms were restituted to their original pomp with Louis Quinze furniture and brocade-embellished hallways that added new luster to the extant gilded decorations. For the presentation of the collection, the models, illuminated by theatrical follow spots, traced a graphic circuit that linked the stage and the lounge. True to the Miu Miu tradition, glittering young stars composed individual scenes, collaging sounds and styles over an atmosphere rich with creative history, while guests frequented the bar, dining room, and spectacular terrace that overlooked the luminous city.

    Guests included Elle Fanning, Emma Greenwell, Gwendoline Christie, Milla Jovovich, Millie Brady, Stacy Martin, Teresa Palmer, Anna Brewster, Alexa Chung, Aymeline Valade, Chiara Ferragni, Doutzen Kroes, Elena Perminova, Josephine de la Baume, Lauren Santo Domingo, Leaf Greener, Mariana Ximenes, Natasha Goldenberg, Sofia Sanchez de Betak, Tina Leung, Veronika Heilbrunner.

  • 2017-06-18 PRADA SS18 MEN’S FASHION SHOW

    PRADA SS18 MEN’S FASHION SHOW

    On June 18th , 2017, Prada unveils its Spring/Summer 2018 Men’s collection in the Via Fogazzaro fashion show space in Milan.

    The ability to exchange stories makes us human. We live in a jumble of overlapping narratives, some deep and sustaining, others fragmentary, truncated, partially realized or incomplete. If storytelling is the root of all communication, the manner in which we choose to tell them – abstract and complex or simple and direct – is significant. A fashion show is a story told in an architectural space: a story in a story. For the Spring/Summero 2018 Prada Man Show, however, the architectural installation has been erased and the extant structural elements of the building outlined to create frames for seemingly-simple yet evocative picture stories. Following the logic of comic strips and graphic novels, fragments of incomplete narratives cover all the visible surfaces, the black-edged architectural features providing the infrastructure for the storytelling. Even the guests are drawn into the narrative, embedded in sunken frames, as models parade on an illustrated surface weaving between the spectator boxes. The show will be broadcast live on Prada.com (and for the first time on InstagramLive), and so inject its story into countless other far-flung lives through ubiquitous digital frames linked by global social networks: a story in a story in a story.   

    Credits: AMO and 2x4

  • 2017-05-11 A MODULAR DESIGN FOR PRADA IN VENICE

    A MODULAR DESIGN FOR PRADA IN VENICE

    The "Graphic Rooms"

    Milan, May 11th, 2017 – On the occasion of the Biennale Arte 2017 inauguration, Prada Venice store in Salizada San Moisè unveils the ‘Graphic Rooms’, an evolution of the ‘modular design’ project, a system of continuously updated interchangeable elements placed in the shop.

    The space offers a unique setting, inspired by the theme of traditional Chinese screens. A painting, taken from an original Chinese screen from the 18th century, has been reinterpreted in a contemporary way and with colour schemes representative of the brand: black and white with touches of green for the background landscape; floral designs highlighted by the use of white and turquoise with a stencil technique.

    The area devoted to the women’s leather goods collection is defined by Osvaldo Borsani’s strawberry pink velvet chairs, reproduced exclusively for Prada, creating a new atmosphere which envelopes the customer in an intimate and feminine space.

    On the ground floor, the spaces dedicated to the women’s collections provide access to the area where men’s collections are displayed through black Marquinia marble portals, where video-wall screens offer content relating to the current collections and the special projects connected with them.

    On the first floor, the men’s ready-to-wear collections are showcased in an area featuring a graphic motif carpeting create a highly contrasting yet modern effect.

    For further information:
    Prada Press Office
    Tel. +39.02.541921
    e-mail: ufficio.stampa@prada.com

     

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  • 2017-05-07 PRADA WOMENSWEAR RESORT 2018 FASHION SHOW SPACE

    On May 7th, 2017, Prada unveils its Resort 2018 collection in Osservatorio, Fondazione Prada’s new exhibition space dedicated to photography in Galleria Vittorio Emanuele II.
    The set is conceived as a confrontation between real and manufactured moments.

    The linear arrangement of the seating orientates the guests towards the cupola placed beyond the large windows. Enhanced by both reflective and translucent columns, the guests have a transfigured view of the chiseled profile of Mengoni’s architecture. Models walk along the windows, glowing in the afternoon sun, suspended between the sky and the ornate iron dome that acts as the silent backdrop for the show.
    On the other side of the room this scene is deconstructed and magnified. A continuous mirror running along the wall echoes the overall scene, augmenting the room’s proportions. Distorted fragments of Galleria and evanescent details of the collection cover the surfaces of a series of screens in reflective and pastel colors, blending the spectacle into the set, creating an ephemeral ensemble.

  • 2017-04-13 PRADA PRESENTS A NEW STORE IMAGE IN PORTO CERVO

    PRADA PRESENTS A NEW STORE IMAGE IN PORTO CERVO

    Milan, April 13th, 2017 – Prada stores in Porto Cervo, the fashionable resort on the Costa Smeralda, present a unique, innovative image for the 2017 season: an original design with a holiday vibe to create an exclusive, contemporary shopping experience.

    Located on La Passeggiata, the stores have surface areas of 170 and 100 square metres respectively, and offer womenswear and menswear collections, accessories and footwear as well as a selection of special products.

    The store concept combines the long-standing classic elements of Prada’s identity – its iconic black-and-white chequered marble floor and green cloth-covered walls – with natural materials such as teak wood, in a setting with a sunny atmosphere. The original white-and- yellow striped ceiling is a modern interpretation of the classic coffered ceiling.

    The women’s space is flooded with natural light which filters through the large windows and wooden brise soleils. In the men’s shop, the brise soleils is also in the skylight.

    The walls are covered with original, creative fabrics, some of which are printed with revisited classic patterns from the Prada collections. Products are displayed in a brightly coloured setting which can be modified to suit the season, creating a sophisticated yet laid- back atmosphere.

    The engaging product display layout brings to mind the idea of a bazaar.

    To complete the furnishings, rare design pieces such as metal tubing-framed wicker armchairs from the Fifties and rattan armchairs designed by Franco Albini create intimate spaces for relaxing moments of leisure.

    Through this new image, Prada’s Porto Cervo stores convey the feeling of a luxurious, relaxing holiday in a setting that is authentically Prada yet also contemporary and new, even unexplored.

     

    For further information:
    Prada Press Office
    Tel.+39. 02.541921
    e-mail: ufficio.stampa@prada.com

     

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  • 2017-04-12 PRADA GROUP FULL YEAR 2016 RESULTS

    PRADA spa

    PRESS RELEASE
    PRADA SPA FULL YEAR 2016 RESULTS ANNOUNCEMENT

    Pathway to sustainable growth: action plan to meet the needs of a constantly evolving marketplace is already delivering improved sales trends and stabilising margins

    Highlights


    • Net Revenues trend improved in H2 to end year in-line with expectations at €3.2bn (at constant exchange rate -9% for FY16; -6% for H216)
    • Gross Margin remains high and stable at 72% thanks to relentless focus on industrial efficiencies
    • Substantial progress on cost savings programme, with operating expenses down by 10% compared to
    • 2015
    • Robust operating margins, with EBITDA at 21% and EBIT at 14%, stabilising in the second half
    • Strong Operating Cash Flow at €632m (€368m in 2015) driven by more efficient management of Net
      Working Capital
    • Fully self-financed Capital Expenditure of €251m, with investment focus shifted from retail network
      expansion to store refurbishments
    • Positive Net Financial Position, even after dividends, thanks to strong free cash flow

       

    Patrizio Bertelli, CEO


    “The Prada Group has delivered a satisfactory set of results in-line with market expectations for 2016, a challenging year of transition for the company.

    Our offer has been enriched with products that stand out for their innovative style and quality, while at the same time we have also streamlined and rationalised the cost structure across all business lines.

    The retail strategy has shifted from geographical expansion to network rationalisation and digital integration. We have created new store concepts to enhance customer experiences, with initial encouraging results.

    To integrate the retail and online channels, we will continue to dedicate significant resources to developing an omni-channel offer, through the roll-out of our global digital platform, collaboration with e-tailers, and in-store digital integration. With this goal we have built a new team that will bring further expertise to the Group’s digital strategy.

    I am confident that our creative vision combined with investment in online and offline engagement with our customers put us firmly on the path to sustainable growth.

    The strong cash flow generation and the confidence in the future growth of the business enable us to propose a dividend of 12 cents per share at the next Shareholders’ Meeting, an increase of 9% on last year.”

    Full Year Results 2016


    The Board of Directors of Prada S.p.A met today and examined and approved the consolidated financial results for the year ended 31st January 2017.

    Net Revenues - totalled €3,184.1 million, representing a decline of 9% at constant FX compared to the same period in 2015 (-10% at current FX).

    • Retail Channel – fell 13% at constant FX to €2,634.9 million (-14% at current FX), with progressive improvement in the trend in the second half of the year, especially in the final months.
    • Wholesale Channel – increased by 15% at constant FX to €504.4 million (+13% at current FX), a significant increase on last year thanks to encouraging results from new partnerships with leading e- tailers.
    • Licenses – Licensed business grew by 3% as both eyewear and fragrances saw positive trends, generating royalties of €45 million.

    Net Sales by geography

    • Trading conditions in Europe were mixed for most of the period and ended the year with a decline of 5% at constant FX. Growth in the UK was driven by local consumption and tourists taking advantage of the weaker sterling while continued outperformance in Russia generated double-digit growth over the year. The rest of Europe continued to be impacted by the decline in tourist flows, particularly in France, which in the final quarter of the year however saw significant signs of improvement.
    • Notwithstanding an overall negative performance (-12% at constant FX), Asia Pacific was very dynamic in the second half of the year. China recovered in the third quarter and began to deliver rapid growth. Hong Kong and Macau have significantly reduced levels of sales contractions seen in recent years, with notable recoveries towards the end of the year.
    • Sales in the Americas were down 12% at constant FX, impacted by falling tourist flows in the United States. Positive performances were seen however in Brazil and Mexico.
    • After five years of consecutive growth, sales in Japan declined 13% at constant FX as the stronger yen discouraged Chinese tourists.
    • The Middle East declined 10% at constant FX. Our action plan in recent months to make the shopping experience more exclusive and immersive and to enrich the offer with highly innovative products is already producing concrete results: Ready-to-Wear grew throughout the second half of the year, and we saw excellent market responses to the latest collections in
      Footwear and Leather Goods.

    Financial results


    The implementation of our rationalisation program to streamline operational and management processes significantly mitigated the impact on margins of the decline in revenue. We have maintained a high gross margin of 72% and optimised our cost structure, reducing operating expenses by 10% YoY and creating a leaner, more efficient business.

    EBITDA amounted to €653.4 million: 20.5% of revenues (22.6% FY 2015)

    EBIT amounted to €431.2 million: 13.5% of revenues (14.2% in FY 2015)

    Net income amounted to €278.3 million: 8.7% of revenues (9.3% in FY 2015)

    During the year, the Group generated a strong operating cash flow of €632m (up from €368m in 2015) thanks to the efficient management of net working capital, in particular to the significant reduction in inventory levels. This cash flow has allowed us to fully self-finance the capital expenditure of €251 million, as well as significantly improving our net financial position, which moved from a negative value at year-end 2015 (-€111 million) to a positive position by 31st January 2017 of +€23 million, even after a dividend distribution of €281 million.

    The Board has proposed to the Shareholders’ Meeting, called for 31st May, a dividend of 12 euro cents per share, up 9% compared to the 2015 dividend.

    For further information, please contact:

    Prada Press Office
    +39.02.541921
    ufficio.stampa@prada.com

     

    PRADA Group

    The PRADA Group (HKSE Code: 1913) is a world leader in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. In 2014, Prada acquired 80% of Marchesi srl, owner of the historic Milanese patisserie founded in 1824. The Group also operates, under licensing agreements in the eyewear and fragrance sectors. Its products are sold in 70 countries worldwide through a network that includes 620 directly operated stores (DOS) (at January 31st, 2017) and a select network of luxury department stores, independent retailers and franchise stores. 

     

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  • 2017-03-23 PRADA GROUP CONFERENCE SHAPING A CREATIVE FUTURE

    PRADA GROUP CONFERENCE SHAPING A CREATIVE FUTURE

     

    On Monday, 20th and Tuesday, March 21st the Prada Group hosted in Milan the conference “Shaping a Creative Future”, an event organized in collaboration with the Yale School of Management and the Politecnico di Milano School of Management.

    The two-day debate was an opportunity to explore new connections between sustainability and innovation and provoke stimulating conversations among international leading  personalities in the academic, creative and business world.

    The first day, at the Fondazione Prada, featured the “Parallel Thinking Groups” activity, in which creative working groups developed a critical point of view that opened the discussion of the following day.

    On March 21st, at the Prada headquarters, the keynote speakers and roundtable guests of the plenary conference animated the four round tables on the themes “Brand heritage and market value”, “Design for sustainability through innovation and tradition”, “Sustainability and value creation” and “Driving creative excellence”, moderated by professors of the Yale and Politecnico di Milano Schools of Management.

    Moreover, to complete the first theme, the winning video of the students’ contest organized by MIP Politecnico di Milano was presented on stage and at the beginning of the afternoon working session, the insights of a group of 64 students from the University of Hertfordshire, the Yale School of Management and the Politecnico di Milano School of Management were presented on the theme of “retail experience”.

  • 2017-03-15 SHAPING A CREATIVE FUTURE

    SHAPING A CREATIVE FUTURE

     

    The Prada Group will launch “Shaping a Creative Future” on Monday 20th  nd Tuesday 21st March in Milan, a conference in partnership with Yale School of Management and Politecnico di Milano School of Management.

    The event will focus on the interplay between sustainability and innovation, and feature a series of stimulating conversations, debates and discussions with leading international academic, creative and business figures, moderated by the two universities.

    The first day, hosted at Fondazione Prada, will see representatives from leading businesses meet with Yale School of Management and Politecnico di Milano School of Management professors and alumni for discussions on sustainability and innovation.

    On the second day, a plenary conference will be hosted at Prada’s headquarters, where reflections from the first day will form the basis of all debate. Professors will moderate a series of panels with business leaders and representatives of international organizations, who will debate the topics and add their inspiring insights and experience to the conversation. Students from both universities will contribute their research and theses on the topics to the event.

  • 2017-03-07 MIU MIU FALL WINTER 2017 FASHION SHOW

    On March 7th, 2017, Miu Miu unveils its Fall/Winter 2017 collection in the Palais d’Iena show space in Paris.

    For the Fall/Winter 2017 Miu Miu fashion show, AMO wraps the main architectural elements of August Perret’s Palais d’Iéna in Paris in purple eco-fur as an antidote to the otherwise rigorous architecture.

    The show begins with an ironic reinterpretation of the monumental staircase in the ‘salle hypostyle’ whose details, from handrail to columns and stairs, are accentuated by an elegant layer of eco-fur.

    A series of soft benches are arranged along the perimeter freeing the central nave whilst generating a new sense of solemnity. The show unfolds between the rough concrete and the fuzzy additions while the proportions of the room are augmented by the insertion of a sequence of mirrors.

    The design of The Soft Enfilade challenges a spatial organization that subverts the everyday hierarchy of the Palais.

  • 2017-02-24 PRADA FW17 WOMEN’S FASHION SHOW

    PRADA FW17 WOMEN’S FASHION SHOW

     

    On February 23rd, 2017, Prada unveils its Fall/Winter 2017 Women’s collection in the Via Fogazzaro fashion show space in Milan.

    Fashion is about the everyday and the everyday is the political stage of our freedoms.

    For the Prada Women’s Fall/Winter 2017 fashion show, AMO questions and looks at the role that women have in shaping modern society, their political participation and social achievements. In the current moment – one where we are confronted with several cultural uncertainties – it is hard to think that any form of creative production will be exiled from taking a position in favor of the liberal values we share. The scenography identifies the intangible centrality of the contemporary female role both at the domestic and public scale.

    The set is organized concentrically: while the center maintains an intimate scale, the perimeter is conceived as an abstract exterior.

    A continuous wooden partition divides the space into a series of consecutive sceneries.

    This ideal boiserie traces sinuously along the perimeter of the rooms giving an intimate /controlled scale to the set. The sense of domesticity is amplified by the presence of beds, benches and ordinary lamps spread throughout the room defining the rhythm for the overall composition.

    Beyond the boiserie, the existing wall is invaded by a series of posters that simulate an urban front.

  • 2017-02-17 A MODULAR DESIGN FOR PRADA – The ‘Graphic Rooms’

    A MODULAR DESIGN FOR PRADA
    The ‘Graphic Rooms’

     

    Milan, February 17th, 2017 – On the occasion of London, Milan and Paris fashion weeks, Prada presents the 'Graphic Rooms', an evolution of the 'modular design' project which was inaugurated last December in the Harrods and Monte-Carlo stores. This is a system of continuously updated interchangeable elements placed in the shop when introducing new products.

    The Prada stores in London Old Bond Street, Milan Monte Napoleone and Paris Avenue Montaigne offer unique and original settings, inspired this time by the theme of traditional Chinese screens.

    A painting, taken from an original Chinese screen from the 18th century, has been reinterpreted in a contemporary way and with colour schemes representative of the brand: black and white with touches of green for the background landscape; floral designs highlighted by the use of white and turquoise with a stencil technique. The graphic motif is then completed by a contrasting abstract theme: a group of clouds in shades of pink and smoke 'contaminate' the traditional landscape until they reach the ceiling, transforming it into a starry sky.

    A new atmosphere which envelopes the customer in an intimate and feminine space.




    For further information:
    Prada Press Office
    Tel. +39.02.541921
    e-mail: ufficio.stampa@prada.com

     

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  • 2017-02-16 PRADA OPENS A NEW SPACE AT SAKS FIFTH AVENUE

    PRADA OPENS A NEW SPACE AT SAKS FIFTH AVENUE

     

    Milan, February 16th, 2017 – As part of strategy to strengthen presence within prestigious retail destinations, Prada is pleased to announce the opening of a new boutiqueat Saks Fifth Avenue’s New York City flagship, dedicated exclusively to the brand’s womenswear collections.

    At approximately 100 square metres, located on the third floor of the store, the space reflects Prada’s aesthetic principles and strong brand identity. Three wide black marble gateways frame the two entrances and a large window.

    The interior is defined by a green watercolour canvas wall and the signature black-and-white marble chequered flooring, a legacy of Prada identity worldwide, here reinterpreted in an original way through geometric-patterned coloured carpeting.

    The womenswear collection is displayed in light, clear acrylic glass cases and the furnishings are completed by steel-and-glass tables, clear acrylic glass low tables and Osvaldo Borsani’s green velvet chairs, reproduced exclusively for Prada. 

     

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  • 2017-02-13 PRADA GROUP PRELIMINARY SALES FIGURES OF FINANCIAL YEAR 2016

    PRADA GROUP PRELIMINARY SALES FIGURES FOR FISCAL YEAR 2016 ENDED JANUARY 31st 2017

    2016 GROUP SALES AT EURO 3,184 MILLION

    CLEAR IMPROVEMENT IN SECOND HALF OF YEAR 

    POSITIVE RESULTS IN JANUARY

     


     

    Improving trend evident in last months: the fiscal year ended with the month of January back to positive results

    Europe and Asia are the most dynamic areas: from the third quarter China returned to growth, with a strong, accelerating trend

    Recent product and marketing initiatives producing clear and satisfactory results

     


    Milan, February 13, 2017 - The Prada Group ended its 2016 fiscal year with consolidated revenues of Euro 3,184 million, down by 9% at constant exchange rates (-10% at current exchange rates), in line with market expectations.

    Total Sales by Country:

    • Asia Pacific (-12% at constant exchange rates) was very dynamic in the second half of the year: China resumed rapid growth in the third quarter and Hong Kong and Macau saw reduced level of sales contractions versus past years. Greater China reported higher sales in the last quarter of the year.
       
    • The European market (-5% at constant exchange rates) was adversely affected for most of the year by the reduction of tourist flows, especially in Italy and France, although France showed clear signs of recovery in the fourth quarter. Particularly positive was the performance of Russia, with double-digit growth, and the U.K., which reversed the decline of the first six months to end the year with strong growth.
    • The American market (-12% at constant exchange rates) continued to be affected by falling tourist flows in the U.S.A., as well as generally soft spending patterns since the first part of the year, whereas Mexico and Brazil had positive growth.
       
    • After five years of consecutive growth, in 2016 sales declined in Japan (by 13% at constant exchange rates) essentially as a consequence of the reduced flow of tourists from China due in part to the yen appreciation.
       
    • The Middle East presents a decrease by 10% at constant exchange rates compared to the prior fiscal year.

    With respect to each brand and the various types of products, both Prada and Miu Miu showed improving trends.

    The efforts of recent months to make the shopping experience more exclusive and immersive and to enrich the offer with highly creative and innovative products are already producing concrete results in the Ready-to-Wear segment, which saw improved results throughout the entire second half of the year, along with Footwear and Leather Goods, where we saw an excellent market response to the latest collections.

    With respect to the Retail Channel, the Group's 620 Directly Operated Stores produced revenues of Euro 2,635 million in 2016, a decline of 13% at constant exchange rates and 14% at current exchange rates. However positive progress in sales trend were seen in the second half of the year, particularly in December 2016 and January 2017.

    Wholesale Channel - initial encouraging results from the recent collaboration with leading electronic retailers (“e-tailers”) are evident, in a segment where the Group has implemented an important business plan. Sales across the entire wholesale channel rose to Euro 504 million, up by 14% at constant exchange rates and 13% at current exchange rates.

    Licenses – Licensed business grew by 3%; both eyewear and fragrances experienced positive trends, with royalties of Euro 45 million.

    Patrizio Bertelli, CEO

    "As noted in my comments on the first six-month results, this past year we implemented a profound phase of business process rationalization - still underway - and identified important strategies to secure the Group's future growth.

    This included revising our digital strategy with the creation of a highly skilled team with professional experience from the digital technology and new media industries. In the meantime we are strengthening the retail management structure with the aim of integrating online channels with traditional channels in a truly innovative dimension.

    I am confident that this new global vision will enable our brands to fully express their strong potential, and generate sustainable growth: high-quality products, high level of creativity in both communications and customer relationships.”
     

    For additional information please contact:

    Prada Press Office
    +39. 02.541921
    ufficio.stampa@prada.com

    PRADA Group

    The PRADA Group – HKSE Code 1913 – is a global leader in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. Moreover, in 2014, Prada acquired 80% of Marchesi srl, owner of the historic Milanese patisserie founded in 1824. The Group also operates in the eyewear and fragrance industries under licensing agreements. As of January 31, 2017, products are sold in 70 countries worldwide through 620 directly operated stores and a selected network of luxury department stores, independent retailers and franchise stores. 

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  • 2017-01-25 MIU MIU AUTOMNE 2017

    On Monday January 23rd, 2017, Miu Miu unveils its Automne 2017 collection in its Place Beauvau boutique.

  • 2017-01-20 PRADA OPENS IN MANILA

    PRADA OPENS IN MANILA
     

    Milan, January 20th, 2017 – Prada opens its second store in Manila, Philippines, inside the prestigious Solaire Resort and Casino.

    The space covers a total surface area of 105 square metres on a single level and houses the women’s and men’s leather goods and accessories collections.

    The façade is defined by a backlit white canvas curtain enclosed in a crystal box, which frames the entrance, the wide light-boxes and the display windows.

    The space is characterized by the signature black-and-white marble chequered flooring, a legacy of Prada identity worldwide, reinterpreted in an original way through geometric- patterned carpeting. The walls, covered with fabric in the shades of green, are graced by the classic Prada display niches.

    Steel and glass countertops with brightly colored displays and Osvaldo Borsani’s green velvet chairs, reproduced exclusively for Prada, enrich the atmosphere.



    For further information:
    Prada Press Office
    Tel. +39.02.541921
    e-mail: ufficio.stampa@prada.com

     

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  • 2017-01-15 PRADA FW17 MEN’S AND WOMEN’S FASHION SHOW

    PRADA FW17 MEN’S AND WOMEN’S FASHION SHOW


    On January 15th, 2017, Prada unveils its Fall/Winter 2017 Men’s and Women’s collection in the Via Fogazzaro fashion show space in Milan.

    In the current moment – when issues of simplicity and essentiality are becoming increasingly relevant – AMO and PRADA felt the need to go back to basics, to abandon the construction of hyper-realistic and fully immersive sets in favor of a modest and domestic design, in which the experience of the audience is triggered more by the relationship with the physical space than by visual impact. They also advocate a return to reality and to the possibility of an intimate, unmediated experience between audience and fashion.

    For the Prada Men’s and Women’s Fall/Winter 2017 show, AMO stages the bare simplicity of everyday life.

    A continuous wooden partition divides the space into a series of consecutive sceneries. This ideal boiserie traces sinuously along the perimeter of the rooms giving an intimate scale to the set. The sense of domesticity is amplified by the combination of the wood with ordinary materials: terrazzo, tiles and formica. Together, with the use of beds and benches, they define a rhythm for the overall composition.

    The audience is accommodated along the seating structure. The layout provides each guest with a unique perspective that manifests once one is immersed into the space. The partitions, with their limited height, act as a screen between the different rooms, providing an individual perspective to each observer, while still allowing views of the models behind the boiserie. All the guests share the same personal yet collective experience.

    The sharp contrast between the meticulous sequence of scenes with the roughness of the existing venue expresses a sense of bold essentiality.

  • 2017-01-13 A NEW IMAGE FOR PRADA AT SOGO

    A NEW IMAGE FOR PRADA AT SOGO
     

    Milan, January, 13th, 2017 – Prada celebrates the reopening of its recently expanded and renovated store in Hong Kong, inside the prestigious Sogo Mall, in the Causeway Bay district.

    The space covers a total surface area of about 240 square metres over two floors and houses the women’s and men’s leather goods and accessories collections. The two levels, connected internally by a staircase in green marble, are defined by the signature black-and-white marble chequered flooring – a legacy of Prada identity worldwide – as well as video wall screens offering content relating to the current collections and special projects.

    On the ground floor, the space is characterized by panel walls covered in shades of deep green fabric with a watercolor effect that serve as backdrops for display cases in polished steel and glass, a reinterpretation of the Prada iconic display niches, and shelves of green marble. Steel and glass countertops and Osvaldo Borsani’s green velvet chairs, reproduced exclusively for Prada, complete the setting.

    A wide entrance with window displays welcomes the client on the upper level. This is where the men’s leather goods collection is mainly hosted, with walls covered in air force blue fabric, again with a watercolor effect, display shelves in black lacquered cherry and chairs in grey velvet and wood.

     

    For further information:
    Prada Press Office
    Tel. +39.02.541921
    e-mail: ufficio.stampa@prada.com 

     

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  • 2016-12-23 PRADA OPENS IN NARITA

    PRADA OPENS IN NARITA
     

    Milan, December 23rd , 2016 – Prada strengthens its presence in Japan by opening a new space inside Narita International Airport’s Terminal 2.

    Occupying a total surface area of some 200 square metres, the store houses the women’s and men’s leather goods and accessories collections.

    The façade, on three sides, is clad in black Marquinia marble, framing the light boxes and, on the two opposite sides, the two large entrances.

    The interior is divided in three areas defined by the signature black-and-white marble chequered flooring – a legacy of Prada’s identity worldwide – and deep green watercolour-painted canvas wall covering into which green marble shelving and glass display cabinets are set. A sitting area with elegant green velvet sofas and polished-steel and glass display counters complete the atmosphere.

     

    For further information:
    Prada Press Office
    Tel. +39.02.541921
    e-mail: ufficio.stampa@prada.com

     

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  • 2016-12-09 A NEW IMAGE FOR PRADA IN HANGZHOU, CHINA

    A NEW IMAGE FOR PRADA IN HANGZHOU, CHINA
     

    Milan, December 9th, 2016 – Prada celebrates the reopening of its recently expanded and renovated store in Hangzhou, China, inside the prestigious Hangzhou Tower shopping mall, in the Xiacheng district.

    The new store – located on the first floor - houses the men’s collections in an area of 150 square metres and is united with the pre-existing store dedicated to the women’s collections.

    The store has a new, second entrance. Inside the mall, the façade is clad in black Marquinia marble with alternating shop windows and light boxes displaying the men’s collections.

    The first area, which continues on from the women’s store, is defined by the signature black- and-white marble chequered flooring – a legacy of Prada identity worldwide – here reinterpreted in an original way through geometric-patterned carpeting.

    The women’s space is characterized by sitting areas furnished with Osvaldo Borsani’s green and red velvet chairs, reproduced exclusively for Prada.

    The men’s leather goods and accessories area features deep green watercolour-painted canvas wall coverings and Alpine green marble display shelving.

    The rooms for the men’s ready-to-wear and footwear collections are distinguished by a number of elements such as air force blue walls, ebony flooring and colourful, geometric- patterned carpets. Intimate areas with elegant, colourful seating complete the atmosphere.
     

    For further information:
    Prada Press Office
    Tel. +39.02.541921
    e-mail: ufficio.stampa@prada.com

     

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  • 2016-12-06 A MODULAR DESIGN FOR PRADA

    A MODULAR DESIGN FOR PRADA
     

    Milan, December 6th, 2016 – Prada presents a ‘modular design’ in a selection of its stores. This is a system of continuously updated interchangeable elements placed in the shop when introducing new products so the setting acquires a new, original look each time.

    The first to use this new design is the Prada concession in London's iconic department store Harrods, which houses women's leather goods and accessories.

    Occupying an area of 140 square metres, the concession features exclusive wall decorations and unique, colourful furnishings. Graphic artworks reproduce a number of images by Giovanni Battista Piranesi, an 18th-century Italian etcher, and make a significant reference to Romanticism. The exclusive Prada edition of Osvaldo Borsani’s velvet chairs and the geometric- patterned carpet are in shades of strawberry pink. A selection of special products for women – luxury leather goods, accessories and costume jewellery – is displayed on beautiful coloured- velvet trays arranged in elegant glass-and-steel counters.

    In Monte-Carlo, the 170-square-metre Prada store offers the women’s clothing, leather goods, accessories and footwear collections. Here, again, the walls feature artworks of a selection of Giovanni Battista Piranesi’s etchings, while Osvaldo Borsani’s velvet chairs are in pink, as is the classic chequered carpet. In the entrance area, a large video-wall screens content relating to the current collections and the special projects connected with them.

     

    For further information:
    Prada Press Office
    Tel. +39.02.541921
    e-mail: ufficio.stampa@prada.com

     

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  • 2016-11-18 PRADA OPENS IN ST. BARTS

    PRADA OPENS IN ST. BARTS

     

    Milan, November 18th 2016 – To consolidate its presence in Central-American markets, Prada opens its first store on the promenade of Saint Barthe?lemy, a prestigious location of the Caribbean.

    The store, with a total surface area of 200 square metres on a single level, houses the women’s and men’s ready-to-wear, accessories and footwear collections, together with a selection of special products.

    In this iconic location, Prada presents an original design with an exotic vibe to create a unique, contemporary shopping experience. The store concept – inspired by the architecture of 1950s South American mansions – exhibits an exotic reinterpretation of Prada’s classic heritage elements. The checkered marble floor teamed with natural materials such as wood, within a bright atmosphere, creates an elegant yet relaxed setting. The original white-and-yellow striped entrance ceiling is a modern take on a characteristic coffered ceiling. The entire space is flooded with natural light which filters through the large windows and the wooden brise soleils.

    Rooms with original, creative vintage-fabric wall coverings, which were inspired by iconic prints from the Prada collections and reinterpreted in an architectural context, house the special products in a brightly colored versatile setting. The collections are displayed on shelves made of natural wood or printed with graphic motifs. To complete the furnishings, rare design pieces, such as tubular-framed wicker armchairs from the Fifties, original seating by Gio? Ponti and rattan armchairs designed by Franco Albini, create intimate spaces for relaxing moments of leisure.

    The new store exudes a sophisticated atmosphere which gives the feeling of a relaxing, luxury holiday in a unique, original place.



    For more information:
    Prada Press Office
    Tel. +39.02.541921
    e-mail: ufficio.stampa@prada.com

     

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  • 2016-11-14 PRADA OPENS IN COPENHAGEN, DENMARK

    PRADA OPENS IN COPENHAGEN, DENMARK
     

    Milan, November 14th, 2016 – Prada opens its first flagship store in Copenhagen, inside the prestigious department store Illum – which La Rinascente took over in 2013 – located in Ostergade, one of the main shopping streets in the city.

    The external façade is characterised by a sequence of display windows and light-boxes, creating a design in harmony with the architecture of the building.

    The new space covers a total surface area of 900 square metres over two retail levels and offers the women’s and men’s ready-to-wear, footwear, accessories and leather goods collections. The store concept combines Prada’s consolidated heritage with the freshness of modernity. Not forgetting references to iconic Italian designs, such as Osvaldo Borsani’s velvet chairs, reproduced exclusively for Prada.

    The first space features walls covered in watercoloured canvas in shades of deep green, a black-and-white checkerboard floor, glass display cases with green Alpine marble shelves, and beamed ceilings in Prada green; offering a modern interpretation of ceilings found in historic Italian buildings.

    A series of doorways framed in green marble lead to the adjacent areas: shaded-green canvas wall coverings and shelving characterize the area dedicated to the women’s leather goods and accessories collections; light blades of acrylic and display walls distinguish the women’ ready-to-wear one.

    Bold colors define the rooms where footwear is offered: watercoloured canvas is of a turquoise hue, as is the seating upholstery and even the display shelves.

    An Alpine green marble staircase leads to the upper floor. Here, the video walls, the chequered floors and the beamed ceilings give a masculine attitude. The canvas is in shades of air force blue, as is the velvet for the chairs. The men’s footwear room features the air force blue shade, with grey velvet chairs and geometric-patterned carpeting.

    The men’s ready-to-wear collections’ area is distinguished by a number of elements such as the narrow-plank ebony flooring and shaded-green canvas walls. Iron and glass display cases, green velvet chairs and coloured carpeting give the space elegance and character.



    For further information:
    Prada Press Office
    Tel. +39.02.541921
    e-mail: ufficio.stampa@prada.com

     

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  • 2016-10-06 MIU MIU SS17 FASHION SHOW

    MIU MIU SS17 FASHION SHOW

     

    On October 5th, 2016, Miu Miu unveils its Spring/Summer 2017 collection in the Palais d’Iena show space in Paris.

    AMO’s design for the 2017 Spring/Summer Miu Miu show makes use of engineered materials to create an artificial summer landscape in Auguste Perret’s Palais d’Iena.

    The catwalk is contained inside a plywood box, constructed within the Salle Hypostyle. The audience sits on graduated platforms that emerge from the wooden background, set on either side of the linear runway. An interweaving pattern made of matte and shiny PVC covers the floor and catwalk, in places continuing up the tribunes and walls. A series of graphic illustrations recreates naive and colorful landscapes, reminiscent of summer settings.

  • 2016-09-22 PRADA SS17 WOMEN’S FASHION SHOW

    PRADA SS17 WOMEN’S FASHION SHOW


    On September 22nd, 2016, Prada unveils its Spring/Summer Women’s collection in the Via Fogazzaro fashion show space in Milan.

    The set for the Prada Women’s Spring/Summer 2017 show was conceived by AMO as layers of diverse architectures. The new space is built over the remnants of the previous season which serve as both a foundation, and visible background, for the current scenography.

    The central space has been cleared to accommodate a linear structure that divides the room and amplifies its proportions. A straight ramp elevated above the floor serves as the catwalk and risers are arranged along the perimeter accommodate the guests.

    All the elements of the set are shroud in an expanded-metal layer forming an abstract configuration of overlapping mesh. The underlying framework remains visible through the cladding and is revealed with Cartesian precision. Lights filter through the mesh creating a pale glow.

    The center axis of the space contains a 12-screen film installation by the director David O. Russell and the New York design studio 2x4. Russell imagined the installation as a surreal dreamscape with an eclectic cast replaying scenes in shifting combinations. The content is derived from the soon-to-be released short film Past Forward, a collaboration between Russell and Miuccia Prada. Critically acclaimed for his award winning cinema working with ensembles of actors in films such as The Fighter, American Hustle, Silver Linings Playbook, Russell conceived of Past Forward as a complex experiment in cinematic form intended for display in multiple environments: gallery installation, cinema, social media, and online. 
    The full film will be premiered in Los Angeles in November and available thereafter on Prada.com

  • 2016-08-26 PRADA SPA FIRST HALF 2016 RESULTS ANNOUNCEMENT

    PRADA SPA FIRST HALF 2016 RESULTS ANNOUNCEMENT

     

    Highlights


    Mixed H1 impacted by tough trading conditions especially in Q1 but clear improvement seen in following months.

    Total net revenues of €1.6bn, (-13% at constant FX compared with 2015). The decline was focused in the retail channel while wholesale was stable thanks to an initial positive contribution from recent partnerships with international e-tailers; good progress from royalties driven by the success of the new fragrances.

    • EBITDA margin at 21% of revenues (24% in H1 2015) with strong operating cash flow generation at €267 million and a Net Financial Position at -€246 million, improved by €12 million compared with 2015.
    • EBIT margin showed strong improvement from the first quarter (6%) to the second quarter (19%) ending the period at 14% (16% in 2015); progress on cost containment translated into a reduction in operating expenses of 12% compared with 2015.
    • Net income amounted to €142 million, representing 9% of consolidated revenues (10% in 2015).

     

    Milan, August 26th, 2016


    The Board of Directors of Prada S.p.A meeting on the above date, has examined and approved the consolidated financial results for the six month period to July 31st, 2016.

    Net revenues - Revenues in the period totalled €1,554 million, representing a decline of 13% at constant FX) compared to the same period in 2015 (-15% at current FX).

    Retail Channel - Sales through the Group’s retail network fell 16% year-on year at constant FX to €1,277 million:

    • The European market (-18% YoY at constant FX) was particularly impacted by the decline in tourist flows, while domestic consumers have proven more stable. Highlights were Russia, with double digit organic growth, and the UK market which benefited from a more favourable exchange rate as a consequence of Brexit.
    • The American market (-15% YoY at constant FX) was also impacted by the fall in tourist flows. Stores in Mexico and Brazil however performed extremely well.
    • In Asia Pacific (-18% YoY at constant FX), the negative economic backdrop continued to impact performance in both Hong Kong and Macau, but signs of improvement have been visible since July across Greater China.
    • After a period of consistent growth since 2010, sales in Japan fell (-9% YoY at constant FX) mainly due to lower tourist flows from China caused by a less favourable exchange rate.
    • The Middle East performed in-line with the previous year at constant FX, driven by a recovery in local consumption.

    Wholesale Channel – With revenues of €253 million, the Wholesale channel was in line with 2015, showing the positive initial results from the new collaboration with leading e-tailers.

    Licensing – Progress in Licensing was driven both by growth in Eyewear and Fragrances with royalties growing overall by 8%, reaching €25 million.

     

    Financial results


    The fall in margins in the period, attributable to the sales performance, was partially limited by the initial effects of our rigorous operational review, which started last year and is still in progress. Given the structural nature of the review, the long-term benefits will not only show in this half, but will also run throughout the second half and in future years.

    EBITDA amounted to €330 million: 21% of revenues (24% in H1 2015)

    EBIT amounted to €214 million: 14% of revenues (16% in H1 2015)

    Net income amounted to €142 million, representing 9% of revenues (10% in 2015)

    During the six months, the Group generated strong operating cash flow of €267 million thanks to more efficient management of net working capital, with targeted action to reduce inventories. As a result, the Group was able to fully self-finance capital expenditure of €108m, with no further negative impact on the net financial position which stood at -€246 million as at July 31st, 2016, improving by €12 million year-on-year, having also distributed dividends totalling €281 million to shareholders during the period.

     

    Patrizio Bertelli, CEO


    “With the implementation of the first phase of rationalization of various management and operating processes and with the launch of a series of new initiatives that will allow the Group to respond quickly to the requirements of a rapidly evolving market, I see 2016 as a turning point.

    I refer in particular to three principal lines of action:

    • Rolling out our e-commerce platform, giving priority to China, Hong Kong and Singapore with the objective of achieving global coverage within two years. At the same time there will be a constant enhancement of the on-line shopping experience. Our e-commerce offer will also leverage new partnerships with international leaders in the sector.
    • Redefining the components of our offer will prioritise the needs of individual markets and all strategic price points for our brands. At the same time digital communications in support of the collections will be considerably enhanced.
    • Finally, the retail network is currently subject to rigorous review including closure of non- strategic locations and selective openings in high potential markets. Part of this process will also include the launch of new concepts such as the recent restyling of the Prada stores at Plaza 66 in Shanghai and GUM in Moscow, redesigned to offer a new and exclusive shopping experience for increasingly demanding clients.

    These elements are the foundations on which we can base a future of sustainable growth.”

    For further information, please contact:

    Prada Press Office
    +39.02.541921
    ufficio.stampa@prada.com

    Finsbury

    Edward Simpkins
    +44 7947 740 551
    Edward.Simpkins@Finsbury.com

    Benita Barretto
    +44 7957 203 615
    Benita.Barretto@Finsbury.com

    +44 203 7251 3801
    Prada@Finsbury.com

    PRADA Group

    The PRADA Group (HKSE Code: 1913) is a world leader in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. In 2014, Prada acquired 80% of Marchesi srl, owner of the historic Milanese patisserie founded in 1824. The Group also operates, under licensing agreements in the eyewear and fragrance sectors. Its products are sold in 70 countries worldwide through a network that includes 622 directly operated stores (DOS) (at July 31st, 2016) and a select network of luxury department stores, independent retailers and franchise stores.

     

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  • 2016-08-22 PRADA OPENS TWO NEW STORES IN MACAU

    PRADA OPENS TWO NEW STORES IN MACAU

     

    Milan, August 22, 2016 – Prada strengthens its presence in Macau, China, with two new openings located on the ground floor of the prestigious Wynn Palace Mall.

    The internal façades are clad in black Marquinia marble, framing the large entrances and the display windows overlooking the Mall’s common area.

    The store dedicated to women covers a total area of approximately 260 square metres and houses the ready-to-wear, leather goods, accessories and footwear collections.

    The space is designed as a succession of rooms, each featuring a different atmosphere.

    The area dedicated to the women’s leather goods collections features an octagonal layout and is characterised by black-and-white marble chequered carpeting and walls with Prada’s iconic cut-in green fabric-clad niches. Green velvet sofas and steel counters with coloured saffiano leather detailing complete the furnishing.

    From here, the visitor is led to the rooms hosting the women’s ready-to-wear, small leather goods, accessories and footwear collections.
    Green velvet Borsani sofas – showcased in a special edition version exclusively designed for Prada – characterise the area dedicated to footwear.

    Sleek Plexiglas display units and green fabric-clad walls define the spaces devoted to the ready-to-wear collections.

    The men’s store extends over an area of approximately 240 square metres and houses the ready-to-wear, leather goods, accessories and footwear collections.

    The interior is divided into three rooms, defined by the signature black-and-white marble chequered flooring and green fabric-clad walls.
    In the first room, the leather goods and travel collections are nestled into polished steel and crystal display cases.

    Black marble portals lead to the areas dedicated to the ready-to-wear and footwear collections.

    Polished steel counters with drawers covered in coloured saffiano leather and green ostrich leather sofas enrich the space.

     

    For further information:
    Prada Press Office
    Ph. +39.02.541921
    e-mail: ufficio.stampa@prada.com

     

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  • 2016-07-03 THE MIUMIU-CLUB PARIS

    THE MIUMIU-CLUB PARIS

    On July 3rd, 2016 Miu Miu will unveil a new kind of private club in Paris. Transforming an historic location into a contemporary salon of the imagination, themiumiu-club Paris will bring a new sense of occasion to Paris Couture Week, for one night only.

    Miu Miu will reinterpret and revive the ornate private residence of Hotel de la Paiva on the Champs-Elysees into clubrooms including a cinema, restaurant and show house for a presentation of its Croisiere Collection. Mixing histories, layers of cultural meaning and Miu Miu’s underlying spirit of female empowerment, the-miumiu-club Paris will deceive the senses in a merging of the new collection with new encounters.

    Members will be able to view, for the first time, the new Autumn/Winter 2016 campaign and video; sample cuisine by Margot Henderson; listen to a renowned string quartet, Dirty Pretty Strings, and DJ sets by Paul Simonon, Plastiscines, Kate Moss and Katie Grand; watch a showcase of all eleven of the auteur series Miu Miu Women’s Tales and experience the Croisiere collection up close.

    The building’s history is an ironic and colorful backdrop for a club celebrating the many facets of the Miu Miu woman. It was built in the mid-1800s, commissioned by the infamous courtesan Esther Lachmann (known as La Paiva) for her private residence. Legend has it La Paiva was once pushed out of a cab by a customer into the Champs-Elysees, and vowed she would one day build a house there.

    The exquisite rooms of Hotel de la Paiva radiate with extraordinary details. It is famed for its painted ceiling of Day chasing Night away by Paul Baudry (the painter responsible for the ceilings in the Grand Foyer of the Opera Garnier) and its magnificent staircase, carved from Algerian yellow onyx. A Napoleon III style bathtub also in yellow onyx has taps set with precious stones. La Paiva is said to have taken baths of milk, lime-blossom, and even champagne in it.

    La Paiva held some of the most tantalizing and decadent soirees of the age in the lavish mansion. Her circle included members of the literary, artistic, political and intellectual elite, including Gustave Flaubert and Emile Zola. Since 1904, Hotel de la Paiva has been home to the Travellers Club, a gentlemen’s club (10 years ago women began to be admitted), partial to travel and backgammon.

    the-miumiu-club Paris is an evolution of exclusive Miu Miu Clubs held in London, Shanghai, LA, and Macau. the-miumiu-london, held for three days at the Cafe Royal in 2012, was a new kind of members club, celebrating the many facets of the Miu Miu woman. In 2011 Miu Miu took over the iconic Park Hyatt Hotel in Shanghai with a 1940s-themed multi-sensory experience. That same year Miu Miu flew to LA, where a film noir cinema club was created for the premiere of Muta – the second of the Miu Miu Women’s Tales. Lancaster House, an extraordinary private palace in London, was transformed into a temporary Miu Miu dining club in 2010. At Miu Miu’s club on the Peninsula of Macau in 2008, guests experienced a fashion show, dinner and Crazy Horse cabaret performance.

  • 2016-06-20 PRADA SS17 MEN’S AND WOMEN’S FASHION SHOW

    PRADA SS17 MEN’S AND WOMEN’S FASHION SHOW

    On June 19th, 2016, Prada unveils its Spring/Summer 2017 Men’s and Women’s collection in the Via Fogazzaro fashion show space in Milan.

    The central element in the space is a linear structure which divides the room and amplifies its perceived proportions. A straight ramp, between the inserted ceiling and floor, serves as catwalk, while tribunes are arranged along the perimeter to accommodate the guests.

    A continuous metallic surface folds around all the elements of the set: generating an abstract layer, composed of meshes with different patterns and dimensions that overlap to recreate a total space. The transparency of the cladding material unveils the underlying framework with Cartesian precision.

    The psychedelic glow that spreads throughout the space dematerializes all the surfaces, coloring the room, now reminiscent of a post-human scenario. The models walk in the center at a controlled distance from the audience, virtually levitating in the space. They ascend onto the elongated slope of the ramp incessantly, disappearing towards the vanishing point.

     
  • 2016-03-23 PRADA RENOVATES THE STOCKHOLM STORE

    PRADA RENOVATES THE STOCKHOLM STORE

    Milan, March 23rd, 2016 – Prada renovates its store in Stockholm, located on the prestigious Birger Jarslgatan, one of the city’s main luxury shopping streets.

    In the new space – along with the leather goods and accessories collections for women and men, and the women’s ready-to-wear and footwear collections – a selection of the men’s ready-to-wear and footwear collections is now also available.

    The interior covers a total area of 585 square metres. The space is divided into a succession of rooms featuring a different atmosphere and is defined by the signature black-and-white marble chequered flooring – a legacy of Prada’s identity worldwide – and green fabric-clad walls.

    The areas hosting the women’s and men’s leather goods collections are characterised by precious polished steel cases with black Marquinia marble drawers.

    The new space dedicated to the men’s ready-to-wear and footwear collections features green fabric-clad walls with fine cut-in polished steel cases. Display counters with coloured saffiano leather detailing and ostrich leather sofas complete the furnishing.

    The women’s ready-to-wear and footwear collections are showcased in an area defined by transparent perspex display units, curved green velvet sofas and perspex tables.

    For further information:
    Prada Press Office
    Ph: +39.02.541921
    e-mail: ufficio.stampa@prada.com 

     

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  • 2016-02-17 PRADA GROUP PRELIMINARY SALES FIGURES OF FINANCIAL YEAR 2015

    PRESS RELEASE

    PRADA GROUP PRELIMINARY SALES FIGURES FOR FINANCIAL YEAR 2015

    2015 revenues at the same level as in 2014

    Continuation of plan to enhance the contribution of the Retail network while gradually reducing the Wholesale channel

    Healthy progress for Miu Miu and Church’s

    Milan, February 17th, 2016 – The consolidated net revenues of the Prada Group for financial year 2015 amounted to Euro 3,545 million, the same level as reported for 2014 (Euro 3,552 million), thanks to the growth of the retail network which made up for the sales decrease in wholesale channel, in line with the previously announced plan to step up the contribution of the retail network, while reducing the wholesale channel.

    In more detail, wholesale revenues for financial year 2015 amounted to Euro 444 million, with a Euro 88 million decrease. Meanwhile the revenues of the retail network - 618 DOS as of January 31, 2016 – have reached Euro 3,057 million, a Euro 76 million increase at current exchange rates.

    Licensed products (eyewear and fragrances) performed well and royalties, at Euro 44 million on 31 January 2016, were 14% higher; eyewear made its contribution to this growth, as did the first Miu Miu fragrance, which was launched during the second half of the year.

    Retail channel by geographical area and brand

    Europe recorded healthy sales growth of 6% at current exchange rates and 5% at constant exchange rate; a steady stream of tourists, especially from the Asia Pacific region and the United States, sustained sales growth. The results of the Italian market have been even better and remained positive in the fourth quarter.

    The continuing upward trend in the Japanese market – unbroken now since 2010 – saw growth of 11% for the full year at current exchange rates, or 4% at constant rates.

    Thanks to favorable exchange rates, sales on the American market grew by 5%: in real terms, there was a 9% decrease largely because of the significant strengthening of the US Dollar which affected the inflow of tourists to the area.

    The economic situation on the Chinese market remains negative, although there was some improvement in the final quarter. Consequently, in financial year 2015, the entire Asia Pacific area (excluding Japan) recorded a 4% revenue decrease at current exchange rates and a 16% decrease at constant exchange rates.

    Middle East: a good fourth quarter meant the financial year ended with 11% growth at current exchange rates, while limiting the decrease at constant exchange rates to 5%.

    Moving on to the retail channel by individual brand, Prada recorded a 1% increase for the year to Euro 2,486 million, entirely attributable to the exchange rate effect. Meanwhile, Miu Miu enjoyed revenue growth at both current exchange rates (+10%) and constant exchange rates (+1%) and its performance improved in the fourth quarter. Church’s also achieved growth for the year of 14% at current exchange rates and its performance was also positive in constant exchange rates, +7%.

    Patrizio Bertelli, Chief Executive Officer of Prada Spa, commented: “Throughout 2015, we had to deal with an economic environment characterized by extreme volatility in currency markets, as well as by the deteriorating geopolitical situation in many world regions. These two factors have made prices fluctuate widely and diverted tourist traffic in sudden and unpredictable ways. Our retail network –now truly global thanks to investment in recent years – enables us to keep developing a direct relationship with our ever more demanding customer all over the world. In the coming months, the Prada Group will be focusing its energies on the development of new commercial and marketing initiatives to sustain organic growth, also by means of an extensive digital project to strengthen dialogue with our customers. These actions, taken against the background of rigorous and disciplined cost control, will enable us to consolidate our market position with satisfactory margins and returns on investment”.

    Full results regarding performance in the 2015 financial year will be published following the Board of Directors’ meeting which will approve the Financial Statements and will take place in the first half of April 2016.

    Prada Press Office
    Tel. +39.02.541921
    e-mail: ufficio.stampa@prada.com

    PRADA Group
    The PRADA Group –HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. Moreover, in 2014, Prada acquired 80% of Marchesi srl, owner of the historic Milanese patisserie founded in 1824. The Group also operates, under licensing agreements, in the eyewear and fragrance sectors. Its products are sold in 70 countries worldwide through a network that included 618 directly operated stores (DOS) at January 31, 2016 and a select network of luxury department stores, independent retailers and franchise stores. 

     

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  • 2015-12-15 PRADA SPA APPROVES GROUP RESULTS FOR THE NINE MONTHS ENDED OCTOBER 31, 2015

    PRADA SPA APPROVES GROUP RESULTS FOR THE NINE MONTHS ENDED OCTOBER 31, 2015

    Milan, December 15, 2015 – The Prada spa Board of Directors today examined and approved the Consolidated Report for the nine months ended October 31, 2015.

    Consolidated net revenues for the period amounted to Euro 2,582.5 million. This represents a 1.2% increase at current exchange rates on the corresponding period in 2014, entirely thanks to directly operated store sales, while wholesale revenues have decreased as a result of the Group’s decision to keep on reducing its presence in that channel.

    In detail, wholesale channel sales for the period ended October 31, 2015 totaled Euro 295.5 million, down by 15.9% at current exchange rates. In contrast, the Group’s retail network revenues were up by 3.8% and amounted to Euro 2,253.5 million.

    The licensing business (eyewear and fragrances) performed very well. Royalties for the nine months ended October 31, 2015 totaled Euro 33.5 million, a 16.2% increase also thanks to the launch of the first Miu Miu fragrance.

    Retail channel by geographical area and by brand

    The European market has grown in the nine-month period at both current exchange rates (+8.6%) and constant exchange rates (+7.6%). It was boosted by the weakening of the Euro which triggered a notable flow of Asian and American tourists. The Italian market continued to stand out among the various European countries and recorded growth rates well above the average for the area.

    The Japanese market has again performed extremely well with growth at both current exchange rates (+10.4%) and constant exchange rates (+4.6%), driven by the rising number of Chinese tourists.

    Meanwhile, the Asia Pacific market continued to show the issues highlighted in the previous quarters and has recorded a 4.9% decrease at current exchange rates. This is due to reductions in both local consumption and tourist flows within the region, with Hong Kong and Macau particularly affected.

    On the American market sales increased at current exchange rate by 8.5%, but showed a negative underlying trend (-7.6% at constant exchange rates). The significant strengthening of the US Dollar over the period had an adverse impact on tourism, mainly from China and South America, but, at the same time, it encouraged a shift in American consumer spending towards Europe.

    Moving on to the retail channel by brand, Prada recorded a 2.1% increase which was entirely attributable to the exchange rate effect. Meanwhile, Miu Miu has grown with revenues up at both current exchange rates (+11.8%) and constant exchange rates (+1.9%). Church’s has also achieved sales growth (+17.6%), a positive trend also on a like-for-like base.

    Margins for the period were affected by the lack of organic growth accompanied by an increase in selling costs due to retail network expansion. Other cost items have remained broadly stable as a result of the thorough and ongoing review of business processes in all areas, aimed at increasing efficiency.

    EBITDA for the first nine months of the year amounted to Euro 595.4 million or 23.1% of consolidated net revenues and EBIT totaled Euro 373.9 million or 14.5% of consolidated net revenues.

    Net Profit was Euro 235.1 million or 9.1% of consolidated net revenues.

    Patrizio Bertelli, Chief Executive Officer of Prada Spa, commented: “ Over the last few months, we have seen a general worsening of the macroeconomic environment: in particular, continuing volatility on financial markets and rising fears on the social and political landscape have made consumers less willing to spend and decreased tourist flows in some countries. Against this background and also in light of the far-reaching changes underway in the luxury goods segment, we are further stepping up all our commercial and product-related initiatives to strengthen relations with our increasingly sophisticated and demanding customer base. At the same time, we have implemented further cost containment measures following a review of all business processes.

    Stylistic continuity, one of the Group’s core strengths, together with a flexible organization capable of adapting to market changes, will be key features of our strategy in the near future. This will allow us to react to evolution in demand through design and creative decisions always in line with the tradition and positioning of our brands. With this in mind, we are reviewing the Group’s organization in order to streamline processes and further strengthen it with new key personnel. In the medium-term, we remain optimistic about the outlook for the segment and confident that the undoubted stylistic leadership of our brands and our positioning - with global coverage already secured by our extensive retail network - will be key factors in facing up successfully to future challenges”.

    For further information, please contact:

    Prada Press Office
    Tel. +39 02.541921
    e-mail: ufficio.stampa@prada.com

    PRADA Group
    The PRADA Group –HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. Moreover, during 2014, Prada acquired 80% of Marchesi srl, owner of the historic Milanese patisserie founded in 1824. The Group also operates, under licensing agreements, in the eyewear and fragrance sectors. Its products are sold in 70 countries worldwide through a network that included 612 directly operated stores (DOS) at October 31, 2015 and a select network of luxury department stores, independent retailers and franchise stores. 

     

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  • 2015-12-14 A NEW PERSPECTIVE ON THE PRADA GROUP

    A NEW PERSPECTIVE ON THE PRADA GROUP

    Milan, December 14th 2015 – The Prada Group reveals another company initiative on csr.pradagroup.com, presented today at Fondazione Prada in Milan. 

    The site collects stories of passion and commitment, of creativity, of respect and care for the land, of open dialogue with communities, of restoration and enhancement of the artistic legacy.
    The process has arisen spontaneously over more than thirty years of industrial growth, guided by the spirit of the places where we started and now operate and animated by a natural inclination to view the world with curiosity. 

     
    Beauty, creativity and superior quality have always been the Prada Group’s guiding principles. Nature and humanity are the cornerstones of those principles. Respect for the environment and for individuals underpins our behaviour at all times, both within our company and in the relationship with our partners, suppliers, clients and institutions” – said Carlo Mazzi, Chairman of the Board of Directors of Prada Spa –“This is the way we set about our work – and it is only made possible through the unique contributions of all those who collaborate with us day in and day out”.
     
    We believe that corporate social responsibility means broadening one’s scope, becoming aware of the effects of doing business, and of the fact that our actions can contribute to establishing more harmonious relationships with the community. 
     
    This project, introduced through the new website, is an important contribution to the dissemination of practices and values along our value chain and among our stakeholders and it demonstrates our firm commitment to pursuing a common goal together. Moreover, it offers a previously unseen view of the Group, whose protagonists are the skilled hands of artisans, the multifaceted expressions of culture, the reshaping of landscapes, and the people all over the world who, with us, dedicate their daily efforts to achieving excellence. 

    The web site in detail

    “Corporate Social Responsibility” is the title of the main introductory section and it presents our vision in terms of texts, info-graphics, maps, reports and annual figures which will show brief overviews of the main projects and results described in the Prada Group’s yearly report on Corporate Social Responsibility.

    The site is divided into three main sections: “work” as represented by artisanal workmanship and innovation, preservation of know-how and the handing down of skills; “territory” in the sense of the respect for the places in which we work through a harmonious dialogue between architecture and its surroundings; “culture” as a legacy for the future.

    Each section is shown graphically as a bookshelf. The individual projects appear as the titles of books stacked horizontally. When clicked, they open to show the chapters with detailed narrations including text, large images, full-screen photo galleries, videos and complete descriptions. This linear and evocative navigation lets the user change route and access new content at any time.

    Starting from 11.00AM (CET) the website will be online at http://csr.pradagroup.com

    #PradaGroupResponsibility

    For further information:
    Prada Press Office
    Tel. +39 02.541921
    e-mail: ufficio.stampa@prada.com 

     

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  • 2015-11-11 MIU MIU OPENING IN MEXICO CITY, MEXICO

    MIU MIU OPENING IN MEXICO CITY, MEXICO

    November 12th 2015 - Miu Miu opens a new store in Mexico City, in the historic Palacio de Hierro department store.

    El Palacio de Hierro dates back to 1891 and was conceived to rival department stores in Paris, New York and London. Fire destroyed the original building in 1914 and the current Art Nouveau structure opened in 1920.

    Designed by the architect Roberto Baciocchi, the store is located on the ground floor of the mall, extends over a surface area of 162 square metres, and is home to bag, accessory and footwear collections.

    A plate-glass façade is backed by signature perforated metal curtain immediately expressing the innovative character of the brand. Large light boxes, framed in satin- finished steel, showcase Miu Miu’s current print campaign.

    Inside, the boutique is divided into three distinct areas, each dedicated to its own product category.

    Walls are covered with soft, damask drapes that form a backdrop to display niches backed in that same fabric and edged with polished metal. Elegant glass display counters with fine steel frames are placed centrally on floors covered in pale beige carpet.

    Damask-clad armchairs and low-level tables with bevelled-mirror tops finish a look that is both intimate and quintessentially feminine throughout.

    Miu Miu Polanco El Palacio de Hierro, Av. Moliere 222, Col. Los Morales Polanco, Del. Miguel Hidalgo, CP 11570, México, D.F

    For further information:
    Miu Miu Press Office
    Tel +39 02 3498121
    E-mail: pressoffice@miumiu.com 

     

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  • 2015-10-07 MIU MIU SS16 FASHION SHOW

    MIU MIU SS16 FASHION SHOW

    On October 7th, 2015 Miu Miu unveils its Spring/Summer 2016 collection in the Palais d’Iena show space in Paris.

    For the Miu Miu show AMO invades the monumental architecture of August Perret’s Palais d’Iena in Paris with a timeless ruin, introducing a dramatic counterpart to the rigorous linearity of the Palais.

    The volume, embedded in the hypostyle, is carved following the model’s path.

    Concealing and revealing the columns, an organic dialogue is established with the existing architecture.

    The complex geometry of the installation is clad with a set of industrial reflective materials amplifying its extraneous presence to the surrounding environment.

    Based on this concentric organization, the show unfolds around the brutal volume that becomes both path and background for the models.

    The audience is organized linearly along the perimeter of the hypostyle facing the constant changing relationship between the Palais, the injected architecture and the fashion.

     
  • 2015-09-24 PRADA SS16 WOMEN’S FASHION SHOW

    PRADA SS16 WOMEN’S FASHION SHOW

    On September 24, 2015 Prada unveils its Spring/Summer 2016 Women’s collection in the Via Fogazzaro show space in Milan.

    Plastic sheets hang down acting as a virtual mold that defines the catwalk and seating areas, while the concrete ground area acts as the negative of the above scene.

    The fiberglass and polycarbonate stalactites manipulate the proportions and perspectives of the brutal and industrial space. These alternating levels of views and transparencies introduce the guests to a blurred horizon.

    A synthetic dawn spreads through the room radiating opalescent reflections. Iridescent lights shine through the ceiling highlighting the defined geometries of its modules. 

    Arranged in elliptical benches that are determined by the ceiling installation, they never perceive the room as a whole.
    The wall, floor and seats, covered in concrete, emerge as a remnant, disturbing the boundaries between seating and catwalk.

  • 2015-09-15 PRESS RELEASE PRADA SPA APPROVES GROUP RESULTS TO JULY 31, 2015

    PRESS RELEASE

    PRADA SPA APPROVES GROUP RESULTS TO JULY 31, 2015

    REVENUE GROWTH OF 4.2% AT CURRENT EXCHANGE RATES COMPARED TO FIRST HALF OF 2014. DIFFICULTY ON ASIA-PACIFIC MARKET MORE THAN COMPENSATED FOR BY GROWTH ON MARKETS IN EUROPE, AMERICAS, MIDDLE EAST AND JAPAN

    IN LINE WITH SELECTIVE STRATEGY ADOPTED, RETAIL NETWORK SALES HAVE INCREASED MORE THAN WHOLESALE CHANNEL SALES.

    THANKS TO INCISIVE MEASURES TO IMPROVE BUSINESS PROCESSES, EBITDA FOR THE SECOND QUARTER HAS REACHED 27.8%, SIGNIFICANTLY IMPROVED ON THE FIRST QUARTER (19.6%), TAKING EBITDA MARGIN FOR THE FIRST HALF OF THE YEAR TO 24.1%.

    THE EBIT TREND IS EVEN MORE POSITIVE: 20.3% IN THE SECOND QUARTER AGAINST 11.0% IN THE FIRST QUARTER AND 16.1% ON CONSOLIDATED NET REVENUES FOR THE FIRST HALF OF THE YEAR AS A WHOLE.

    NET PROFIT FOR THE FIRST HALF OF THE YEAR AMOUNTED TO € 188.6 M OF WHICH € 58.7 M GENERATED IN THE FIRST QUARTER AND € 129.9 M IN THE SECOND QUARTER.

    Milan, September 15, 2015 – The Prada SpA Board of Directors today reviewed and approved the Consolidated Interim Report for the six months ended July 31, 2015, together with the results for the second quarter of the year.

    Consolidated net revenues for the six months ended July 31, 2015 amounted to Euro 1,824.4 million, with a 4.2% increase, at current exchange rates, on the corresponding period in 2014. The increase is entirely attributable to the retail channel, as a result of the selective strategy pursued by the Group with the aim of further enhancing the activities of its Directly Operated Stores.

    Consequently, wholesale channel sales for the period ended July 31, 2015 decreased to stand at Euro 249 million (-13.8% at current exchange rates), in line with the ongoing rationalization of the network of wholesale partners.

    Meanwhile, the sales of the Group’s retail network have grown by 7.6% at current exchange rates to stand at Euro 1,552.4 million. On top of the positive exchange rate effect, the 605 Directly Operated Stores (DOS) also benefited from general improvement in sales performance.

    Retail channel by geographical area and by brand

    The European market has continued to grow with revenues for the first six months of the year up at both current exchange rates (+12.4%) and constant exchange rates (+10.8%) thanks to a steady flow of tourists together with a recovery in consumption by domestic customers.

    The Japanese market has also performed extremely well with growth at both current exchange rates (+11.7%) and constant exchange rates (+4.9%); double digit rates of growth were achieved throughout the second quarter.

    Meanwhile, the Asia Pacific market shows the same negative trend as in the first quarter of the year, offset by a positive exchange rate effect. Hong Kong and Macau remain the markets which mainly affected the weak performance in this geographical area.

    At current exchange rates, sales increased in the Americas and in the Middle East (both by 15%); in the Middle East, performance improved significantly in real terms in the second quarter.

    Moving on to the retail channel by brand, Prada has recorded a 5.4% increase at current exchange rates, entirely attributable to the exchange rate effect, and has been impacted by the negative economic situation in the Asian market. Meanwhile, Miu Miu continues to grow with revenues up at both current exchange rates (+18.7%) and constant exchange rates (+6%) and an acceleration achieved in the second quarter of the year. Church’s has also achieved sales growth (+18.6% at current exchange rates) with the volumes trend also remaining largely positive. Finally, Car Shoe has performed broadly in line with prior year.

    Margins for the period benefited from the initial effects of the broad review of main business processes aimed at increasing efficiency. This is confirmed by the significant improvement in EBITDA and EBIT in the second quarter compared to the first three months of the year.

    EBITDA for the first half of the year amounted to Euro 440.1 million or 24.1% of consolidated net revenues, while EBIT stood at Euro 293.2 million or 16.1% of consolidated net revenues.

    Net Profit was Euro 188.6 million or 10.3% of consolidated net revenues.

    Patrizio Bertelli, Chief Executive Officer of Prada Spa, commented: “The luxury goods market is undergoing a period of significant change which must be met with a far-reaching, long-term strategy. Our commitment remains centered on creative dynamics and the spirit of innovation, so that we can constantly increase the levels of excellence of our products. In operational terms, we will continue with our thorough review of business processes in order to make them more efficient.

    The Group’s primary objective remains the creation of value in the long-term for shareholders, our customers and employees.”

    For further information, please contact:

    Prada Press Office

    Tel. +39 02.541921
    e-mail: ufficio.stampa@prada.com

    PRADA GROUP

    The PRADA Group –HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. Moreover, in 2014, Prada acquires the 80% of Angelo Marchesi srl, owners of the historic Milanese pastry shop founded in 1824. The Group operates, under licensing agreements, in the eyewear and fragrance sectors. Its products are sold in 70 countries worldwide through a network that included 605 directly operated stores (DOS) at July 31, 2015 and a select network of luxury department stores, independent retailers and franchise stores. 

     

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  • 2015-08-07 PRADA GROUP PRELIMINARY SALES FIGURES FOR THE FIRST HALF OF 2015

    PRADA GROUP PRELIMINARY SALES FIGURES FOR THE FIRST HALF OF 2015

     

    Milan, August 7, 2015

    The consolidated net revenues of the Prada Group for the six months ended July 31, 2015 amounted to Euro 1,823 million, with a 4% increase compared to the corresponding period in 2014, entirely thanks to the retail channel which more than compensated for a decrease in wholesale channel sales.

    Indeed, the sales of the wholesale channel for the period ended July 31, 2015 totaled Euro 248 million and are down by 14% at current exchange rates, in keeping with the strategy of rationalization of the network of wholesale partners. 

    Retail channel by geographical area

    Vice-versa, the sales of the Group’s retail network have grown by 8% at current exchange rates to stand at Euro 1,552 million, benefiting from the positive effect of exchange rates accompanied by a general improvement in sales performance.

    The European market has continued to grow with revenues up at both current exchange rates +12% and constant exchange rates +11%, thanks to a steady flow of tourists together with a recovery in consumption by domestic customers. 

    The Japanese market has also performed extremely well with growth at both current exchange rates +12% and constant exchange rates +5%; double digit rates of growth were achieved throughout the second quarter. 

    Meanwhile, the Asia Pacific market shows a similar negative trend, as in the first quarter of the year, offset by a positive rate exchange effect. Hong Kong and Macau remain the main drivers affecting the performance in this geographical area.

    At current exchange rates, sales increased in the Americas and in the Middle East reaching 15% growth in both markets; in the Middle East, performance improved significantly in real terms in the second quarter. 

    Retail channel by brand

    The Prada brand has recorded 5% growth at current exchange rates which is entirely attributable to the exchange rate effect, mainly because of the adverse economic situation in the Asian market. Meanwhile, Miu Miu continues to grow with revenues up at both current exchange rates +19% and constant exchange rates +6%, showing an acceleration in the second quarter of the year. Church’s has also achieved sales growth, +19%, with the volumes trend also remaining largely positive. Finally, Car Shoe has performed broadly in line with prior year.

    Patrizio Bertelli, Chief Executive Officer of Prada Spa, commented: “Sales in the first half of 2015 reflect an economic and exchange rate landscape that remains rather volatile with the continuing weakness of important markets like Hong Kong and Macau and the uncertainty that is looming on other Asian markets. Our distribution structure, which has achieved an appropriate global presence, together with our awareness of the specific needs of the various markets, has enabled us to compensate for the drop in sales in Asia Pacific thanks to growth on markets which are currently more dynamic like Europe and Japan. We will continue to prioritize measures intended to sustain long-term growth focusing on our manufacturing tradition and innovation, as again confirmed recently by the success of our latest collections.” 

    Full results for the first half of financial year 2015 will be announced upon approval by the Board of Directors at a meeting provisionally scheduled for September 30, 2015. 


    For further information, please contact: 

    Prada Press Office

    Tel. +39 02 541921
    e-mail: ufficio.stampa@prada.com

     

    PRADA GROUP
    The PRADA Group –HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. Moreover, in 2014, Prada acquires the 80% of Angelo Marchesi srl, owners of the historic Milanese pastry shop founded in 1824. The Group operates, under licensing agreements, in the eyewear and fragrance sectors. Its products are sold in 70 countries worldwide through a network that included 605 directly operated stores (DOS) at July 31, 2015 and a select network of luxury department stores, independent retailers and franchise stores. 

     

     

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  • 2015-07-04 MIU MIU TO STAGE A ONE-NIGHT-ONLY CLUB IN PARIS TO UNVEIL THE 2016 CROISIÈRE COLLECTION AND INTRODUCE THE FIRST MIU MIU FRAGRANCE

    MIU MIU TO STAGE A ONE-NIGHT-ONLY CLUB IN PARIS TO UNVEIL THE 2016 CROISIÈRE COLLECTION AND INTRODUCE THE FIRST MIU MIU FRAGRANCE

    From the lavender hues of the Howling Cat, to the cabarets of Les Folies Bergères, to le jazz wafting from the caves of Montmartre, Paris nightlife thrives in the abstract, the secret, the seductive.

    July 4, 2015, in celebration of the unveiling of the 2016 Croisière collection and the introduction of the first house fragrance, Miu Miu opens the Miu Miu Club, a one-night-only intervention in the 1937 Palais d’Iena in the 16th arrondissement of Paris.

    Inspired by the rich tradition and dark evocation of Parisian nightlife, the Miu Miu Club features a cocktail gathering, exclusive dinner, fashion show, musical performances, and a late night party. In addition the Club includes a special powder room dedicated to experiencing the first Miu Miu fragrance. Music features prominently with guest appearances by long-time Miu Miu collaborator sound artist Frederic Sanchez, tech house DJ Craig Richards, American DJ and producer Seth Troxler, and Dutch DJ Cassy.

    Located in the grand hypostyle hall of Auguste Perret’s Palais d’Iena, the familiar location of the Miu Miu fashion shows, the main club space is defined by a ring of scaffolding that creates a room-within-a-room.
    The scaffold supports a raised catwalk that runs the length of the hall following the rhythm of the architecture on which models parade overhead. Under the scaffolding a long series of lounges accommodate the guests both for dinner and conversation. Juxtaposed against the concrete structure of the Palais, the thin metallic profiles of the scaffold ring provide material contrast and plastic sheets define the exterior boundaries, reinforcing the casual insouciance of the environment. In contrast to temporal language of the set, white carpet-upholstered furniture lends a subtle sense of luxury. In keeping with the club atmosphere, the lighting is low and mysterious occasionally punctuated by lively signs in red and light blue neon. The center of the room is left open to provide a dance floor oriented towards a scenographic DJ wall.

    The powder room is an intimate space, evocative of a ladies salon, for guests to experience Miu Miu’s first fragrance. Visitors are led through two mirrored corridors displaying images from the fragrance campaign featuring Stacy Martin and photographed by Steven Meisel. Glowing within the dimly lit hemicycle hall, the iconic dome and chandelier are faintly visible above the powder room. Enclosed by a ring of projection screens displaying subtly moving images, vanities, mirrors, banquets and poufs offer a space for small gatherings. White and blue carpet covers the floors and furniture and gold and mirrored accents create a soft environment. Fragrance bottles are arranged at each vanity, giving the opportunity to test the perfume, which highlights the joyful lily of the valley with the unexpected earthy undertone of Akigalawood®.

    The Miu Miu Club offers an alternative environment for experiencing fashion and fragrance. Rather than promoting a quick view and fast departure, the space welcomes guests to spend the entire evening.

    For further information:
    Miu Miu Press Office
    Tel +39 02 3498121
    E-mail: pressoffice@miumiu.com

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  • 2015-06-21 PRADA SS16 MEN’S AND WOMEN’S FASHION SHOW

    PRADA SS16 MEN’S AND WOMEN’S FASHION SHOW

    On June 21, 2015 Prada unveils its Spring/Summer 2016 Men’s and Women’s collection in the Via Fogazzaro show space in Milan.

    Plastic sheets hang down acting as a virtual mold that defines the catwalk and seating areas, while the concrete ground area acts as the negative of the above scene.

    The  fiberglass and polycarbonate stalactites manipulate the proportions and perspectives of the brutal and industrial space.

    These alternating levels of views and transparencies introduce the guests to a blurred horizon. Arranged in elliptical benches that are determined by the ceiling installation, they never perceive the room as a whole.

    The wall, floor and seats, covered in concrete, emerge as a remnant, disturbing the boundaries between seating and catwalk.

  • 2015-03-30 PRADA APPROVES ITS 2014 ANNUAL REPORT

    PRADA APPROVES ITS 2014 ANNUAL REPORT

    Consolidated net revenues of Euro 3,552 million
    EBITDA of Euro 954 million
    EBIT of Euro 702 million
    Net income of Euro 451 million
    Positive Net Financial Position of Euro 189 million
    Dividend of Euro 0.11 per share

    Milan, March 30, 2015 – The Prada Spa Board of Directors met on March 27 to review and approve the separate financial statements of Prada Spa and the consolidated financial statements of the Group, for the twelve months ended January 31, 2015.

    Revenue
    Consolidated net revenues for the period totaled Euro 3,551.7 million, slightly down on 2013:
    -1.0% at both current and constant exchange rates.

    Wholesale channel

    In line with forecast and Group’s distribution strategy, for several years focused on the development of the retail channel, wholesale channel sales, for the 2014 financial year, have decreased by 3.4% (-4.7% at constant exchange rates) to stand at Euro 532.5 million. The contraction essentially regarded the European and American markets, where the long-term process of rationalization is still on going. Meanwhile, strong sales growth was achieved by the network of franchise stores in Asia Pacific (DFS), which are benefiting from an increasing flow of Chinese consumers.

    Retail channel by geographical area

    As at January 31, 2015, the Group’s retail network consisted of 594 DOS (Directly Operated Stores). Sales in that channel totaled Euro 2,980.9 million, broadly in line with 2013 at both current and constant exchange rates, but with significant variation from one geographical area to another: the growth recorded in Japan, the Americas and the Middle East was eroded by a fall in sales in the Far East, where market conditions gradually deteriorated in the second semester.

    In detail:

    - in Europe, sales decreased by 1.1% compared to prior year due to the reduced flow of tourists and continuing weakness in domestic demand. However, the trend did improve in the final quarter of the year when there was a return to growth.

    - in the fourth quarter, the American market confirmed the good performance already shown in the rest of the year. For the entire fiscal year, it recorded a +7.7% increase at current exchange rates (+7.2% at constant exchange rates) thanks to strong domestic demand.

    - the situation in Asia Pacific was somewhat more difficult and it recorded a 5.5% drop in sales at current exchange rates in 2014 (-6.5% at constant exchange rates). The sales contraction in this area was mainly due to the weak performance of Hong Kong and Macau where market conditions deteriorated significantly in the second half of the year. In addition, the different timing of the Chinese New Year affected sales performance in the month of January throughout the Greater China area.

    - the Japanese market continues to grow and performed well again in the fourth quarter. Sales growth for 2014 as a whole was +7.7% at current exchange rates (+13.3% at constant exchange rates).

    - in the Middle East, sales grew by a 9.9% at current exchange rates (+8.5% at constant exchange rates) despite a fall in the number of Russian tourists.

    Retail channel by brand

    In 2014, the Prada brand, which now accounts for 83% of consolidated net revenues, recorded a 1.7% decrease in sales at current exchange rates (-1.5% at constant exchange rates). Performance varied from one geographical area to another, along the lines of total sales revenue as described above. Men’s collections achieved growth in all geographical area.

    Miu Miu achieved 4% revenue growth at current exchange rates in 2014 (+4.4% at constant exchange rates). Except in Europe, the brand recorded good rates of growth on all markets, including the Far East.

    Church’s also performed well with +14.8% revenue growth at current exchange rates (+12.0% at constant exchange rates), as did Car Shoe with +12.2% growth at current exchange rates (+11.0% at constant exchange rates).

    Financial highlights

    Margins remained satisfactory despite additional costs, incurred for the retail network expansion, that were not fully absorbed due to the broadly static revenues levels. There were 54 new DOS openings (net) in the last twelve months, including 32 Prada, 19 Miu Miu and 3 Church’s.

    EBITDA totaled Euro 954.2 million: 26.9% of consolidated net revenues.

    EBIT amounted to Euro 701.6 million: 19.8% of consolidated net revenues.

    Net income, amounting to Euro 450.7 million, represented 12.7% of consolidated net revenues.

    At January 31, 2015, the Net Financial Position was positive by Euro 188.8 million. Operating cash flows for the period of Euro 484 million were used to finance capex totaling Euro 450 million. During the period, dividends of Euro 282 million were also distributed to the shareholders.

    The Board of Directors proposed payment of a Dividend of Euro 0.11 per share, i.e. a pay-out of 62%. This proposal will be put to the Shareholders’ General Meeting convened on May 26, 2015

    Patrizio Bertelli, Chief Executive Officer of Prada Spa, commented: “As already highlighted, the financial year 2014 represented a year of transition for the Prada Group on its journey of growth. Operating profit slowed down temporarily after the Group preferred to take a medium/long-term view with the continuation of its investment program. Our balance sheet and the operating cash flow generation remain strong and enable us to confirm our investment plans in production and research, while also optimizing the retail network. The next challenges will regard our ability to adapt to the rapidly evolving market and we are confident to face this challenge leveraging on the strength of our brands and on our innovative capacity which has always made the Group stand out”.

    For further information, please contact:

    Prada Press Office
    Tel. +39.02.541921
    e-mail: ufficio.stampa@prada.com

    PRADA Group
    The PRADA Group –HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. The Group also operates, under licensing agreements, in the eyewear, fragrances and mobile telephone sectors. Its products are sold in 70 countries worldwide through 594 directly operated stores (DOS) at January 31, 2015 and a select network of luxury department stores, independent retailers and franchise stores.

     

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  • 2015-02-22 PRADA GROUP PRELIMINARY SALES FIGURES OF FINANCIAL YEAR 2014

    PRESS RELEASE
     
    PRADA GROUP PRELIMINARY SALES FIGURES FOR FINANCIAL YEAR 2014

    Milan, February 22, 2015 – The preliminary sales reported by the Prada Group – listed on the Hong Kong Stock Exchange (1913HK) – for the financial year ended January 31, 2015 amount to Euro 3,552 million, slightly down compared to the previous financial year (-1%).

    Wholesale channel

    In line with our forecast and Group strategy which has, for some years, prioritized retail channel development, the wholesale channel ended financial year 2014 with sales of Euro 532 million, a decrease of 4% (-5% at constant exchange rates). This decrease is essentially due to the European and American markets where we continued our rationalization program. In contrast, there was strong sales growth for the network of franchise stores in the Asia Pacific region (DFS) which have benefited from an increasing flow of Chinese consumers.
     
    Retail channel by geographical area
     
    As at January 31, 2015, the Group retail network comprised 594 DOS and its sales for the financial year then ended totaled Euro 2,981 million, broadly in line with financial year 2013 at both current and constant exchange rates. There were clear differences between the various geographical areas: the growth recorded in Japan, the Americas and the Middle East was offset by a fall in sales in the Far East, where market conditions gradually deteriorated in the second half of the year.
     
    In more detail:
     
    - in Europe sales revenue decreased by 1% compared to the previous financial year because of a fall in the tourists’ spending and a still weak domestic demand. However, the trend did improve in the fourth quarter when a sales increase was recorded.
     
    - in the fourth quarter, the Americas market confirmed the strong performance recorded earlier in the year, thanks to buoyant domestic consumption: the twelve months growth was 8% at current exchange rates (+7% at constant exchange rates).
     
    - the situation was more difficult in Asia Pacific and sales for financial year 2014 were 5% down on prior year at current exchange rates (-7% at constant exchange rates). The fall in sales in this area originated primarily in Hong Kong and Macau, where market conditions deteriorated significantly during the second half of the year. The different timing of the Chinese New Year also affected performance for the month of January throughout the Greater China area.
     
    - the Japanese market continued its robust growth even in the fourth quarter. Sales for financial year 2014 as a whole, increased by 8% at current exchange rates, (+13% at constant exchange rates).
     
    - there was healthy growth in the Middle East, although performance was affected by a slump in the number of Russian tourists. Overall sales growth in the area amounted to 10% at current exchange rates (+9% at constant exchange rates).
     
    Retail channel by brand
     
    The Prada brand now accounts for 83% of consolidated sales. In financial year 2014, it recorded a 1.7% decrease at current exchange rates ( -1.6% at constant exchange rates) and performance varied from one geographical area to another, in line with the variations in total sales described above. The Men’s segment achieved sales growth in all geographical areas.
     
    Miu Miu recorded a 4% increase in sales at current exchange rates in financial year 2014 (+4.4% at constant exchange rates). Except for Europe, the brand achieved good rates of growth on all markets, including the Far East.
     
    Sales increases were also achieved by both Church’s, +14.8% at current exchange rates (+12.2% at constant exchange rates), and Car Shoe, +12.7% at current exchange rates (+11.5% at constant exchange rates).
     
    Patrizio Bertelli, Chief Executive Officer of Prada Spa, commented: “Throughout financial year 2014, we operated under a geopolitical and monetary environment which was more uncertain and complex than could have been envisaged. This situation has temporarily held up the Group’s path of growth, but it will not affect our medium/long-term growth objectives. We shall continue to pursue said objectives, adapting our strategy and organizational structure to the constantly evolving global environment. Thanks to operational decisions taken in recent years, we now have a balanced, global retail presence which enables us to maintain and develop direct relations with our customer base and makes a daily contribution to broadening the image of our brands around the world. The Group’s medium-term plan shall continue with the focused industrial, marketing and retail investments needed to guarantee solid future growth. The closest attention is always paid to costs, in order to safeguard profit margins and yield satisfactory returns on investments”.
     
    Full results regarding performance in the 2014 financial year will be published following approval by the Board of Directors at the meeting provisionally scheduled for March 26, 2015.
     
     
    For further information, please contact:
     
    Prada Press Office
    Tel. +39 02.541921
    e-mail: ufficio.stampa@prada.com
     
    PRADA Group
    The PRADA Group – HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. The Group also operates, under licensing agreements, in the eyewear and fragrances sectors. Its products are sold in 70 countries worldwide through 594 directly operated stores (DOS) at January 31, 2015 and a select network of luxury department stores, independent retailers and franchise stores.

     

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  • 2015-01-18 PRADA FW15 MEN’S AND WOMEN’S FASHION SHOW

    PRADA FW15 MEN’S AND WOMEN’S FASHION SHOW

    On January 18, 2015 Prada unveils its Fall/Winter 2015 Men’s and Women’s collection in the Via Fogazzaro show space in Milan.

    The existing room is disguised into a classic enfilade of rooms, gradually changing proportions as in an abstract mannerist perspective. As opposed to a single stage, the new sequence of spaces multiplies and fragments the show into a series of intimate moments.

    The progression through the connected rooms simulates endless repetitions and symmetries, while providing the illusion of an infinite palace. As the models move linearly across the enfilade the audience, divided into small groups, are pushed to close and intimate proximity with the collection.

    Blue and black (false) marble cover the floors and walls transforming each space into a tridimensional excavation. In this disorientating landscape aluminum geometric inserts in the ground mark the sequence of spaces.

  • 2014-12-05 PRADA SPA APPROVES GROUP RESULTS FOR THE NINE MONTHS ENDED OCTOBER 31, 2014

    PRADA SPA APPROVES GROUP RESULTS FOR THE
    NINE MONTHS ENDED OCTOBER 31, 2014

    CONSOLIDATED NET REVENUES OF EURO 2,552 MILLION,
    NET PROFIT OF EURO 319.3 MILLION

    Milan, December 5, 2014 – The Prada spa Board of Directors today examined and approved the Interim Consolidated Report for the nine months ended October 31, 2014.

    The results for the first nine months of the 2014 financial year should be viewed in light of the somewhat complex political, economic and forex environment, also taking account of strategic and organizational initiatives undertaken by the Group.

    Consolidated net revenues

    Consolidated net revenues for the period amount to Euro 2,552 million, broadly in line

    with 2013 : -0.9% at current exchange rates, +0.5% at constant exchange rates.

    Wholesale channel

    In line with Group distribution strategy which has, for several years, concentrated on the development of the DOS (Directly Operated Stores) network, wholesale channel sales have decreased by 3.7% (-4.2% at constant exchange rates) to stand at Euro 351.5 million.

    Retail channel by geographical area

    Retail channel sales total Euro 2,171.7 million: -0.5% at current exchange rates, +1.3% at constant exchange rates. As at October 31, 2014, the retail network included 580 DOS, 40 of them opened during the current financial year.

    The Asia Pacific area reports decreases of 4.3% at current exchange rates and 2.8% at constant exchange rates. Sales in said area were primarily conditioned by the Hong Kong market which was already weak in the previous months and deteriorated further in October following the well known facts. China, the largest market in the Asia Pacific area in terms of sales, has recorded a positive revenue trend.

    The Americas market has grown thanks to domestic demand and has recorded revenue increases of +6% at current exchange rates and +8.8% at constant exchange rates.

    Meanwhile, in Europe, revenues have fallen by 1.8% at both current and constant exchange rates. Sales in this area have been negatively influenced by two main factors: a fall in the volume of tourism - triggered by geopolitical tension in certain areas and by forex trends - and the lack of economic recovery which continues to depress local consumer spending.

    The Japanese market recorded a positive trend and achieved strong growth in the period under review: +8% at current exchange rates and +15.3% at constant exchange rates.

    The Middle East also achieved revenue growth in the nine months ended October 31, 2014: +9.8% at current exchange rates and +11.7% at constant exchange rates.

    Retail channel by brand

    At current exchange rates, the Prada brand recorded a small -1.5% decrease in sales whereas, at constant exchange rates, the brand’s sales were broadly in line with 2013 (+0.3%). The Men’s segment performed particularly well, in line with Group strategy focused on achieving growth for men’s collections in all geographical areas.

    Miu Miu continued to grow with a +6.1% increase at constant exchange rates (+3.9% at current exchange rates). Except in Europe, the brand continues to record good rates of growth on all markets.

    Church’s has also performed well with +11.1% sales growth at constant exchange rates (+13.3% at current exchange rates), as has Car Shoe retail network,with +7.5% growth at constant exchange rates (+7.6% at current exchange rates).

    Margins

    Margins have been conditioned by the revenue trend which didn’t allow to absorb the additional costs due to retail network expansion: 64 new store openings in the last twelve months, including 38 Prada, 21 Miu Miu and 5 Church’s.

    EBITDA amounted to Euro 681.7 million, or 26.7% of consolidated net revenues.

    EBIT totaled Euro 496.4 million or 19.5% of consolidated net revenues.

    Net profit was Euro 319.3 million or 12.5% of consolidated net revenues.

    Patrizio Bertelli, Chief Executive Officer of Prada Spa, commented: “2014 is proving to be a more challenging year than expected. On top of the ongoing difficult international economic environment, the luxury goods market is undergoing a certain readjustment, the extent of which is not yet entirely clear. We are confident in the medium-term growth prospects of the market, but also aware of its increasing level of complexity. Consequently, we remain convinced that we have made the right choice in continuing to prioritize the Group’s medium-term development, through investments focused on achieving qualitative and stylistic excellence. We are also working on making our business structures more efficient and improving the operating performance of our stores, in order to ensure the Group achieves satisfactory levels of profitability”

    For further information, contact:

    Prada Press Office
    Tel. 02.541921
    e-mail: ufficio.stampa@prada.com

    PRADA Group
    The PRADA Group – HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. The Group also operates, under licensing agreements, in the eyewear, fragrance and mobile telephone sectors. Its products are sold in 70 countries worldwide through 580 directly operated stores (DOS) at October 31, 2014 and a select network of luxury department stores, independent retailers and franchise stores.

     

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  • 2014-11-18 PRADASPHERE COMES TO HONG KONG

    PRADASPHERE COMES TO HONG KONG

    Prada: A cosmos of its own
    composed of heavenly bodies
    set in complex orbit.
    A universe of contradictions
    and endless elaborations—
    noble causes and base temptations—
    where idealism meets vanity,
    intelligence meets passion,
    fashion meets fiction.
    Welcome to the Pradasphere


    Milan, Italy, November 18th, 2014 — Pradasphere, a special exhibition exploring the universe of Prada, is unveiled on November 18th in Hong Kong, situated on the top of Central Ferry Pier 4, with dramatic views across the harbour to Kowloon. Debuted in London in May 2014, the exhibition traces the multivalent obsessions of one of the world’s most iconic brands.

    Conceived as a natural history of Prada, Pradasphere is a collection of archival objects arranged to reveal the complex, often intertwined, references of Miuccia Prada, her atelier, and a tight-knit circle of collaborators. The singular Prada vision is manifest in everything from fashion and accessories to art, architecture, film, and culture. Pradasphere posits that there are core ideas engaging beauty, taste, embellishment, gender, vanity, and power, which are repeatedly reworked through those diverse channels. The Prada oeuvre represents both an aesthetic journey and a critique enacted through the products of fashion. But it is also an unabashed celebration of exquisite materiality and craftsmanship, a paean to the rare and the finely wrought, and a wholehearted endorsement of the stylistic iconoclast.

    The centrepiece of Pradasphere comprises six towering showcases dedicated to the central themes that have distinguished the work of Prada. The displays combine work from diverse collections to demonstrate the recurrent concepts present in the work. In addition, the exhibition includes: heritage items from the Prada archives; shoes and bags from the past collections organized by theme; examples of exquisite fabrics and materials; Prada history timeline; a screening room presenting short films; architectural projects; and a library of publications.

    Each of the sections follows a specific methodology and curatorial approach:

    ORIGINS includes authentic artifacts from the period that Mario Prada opened the first boutique in 1913 in Milan’s prestigious Galleria Vittorio Emanuele II shopping arcade. The casework follows the design of the elegant displays that Prada has preserved at the original site.

    TYPOLOGIES dominates the centre of the hall, with six freestanding dioramas each dedicated to a specific obsessions or fascination.

    Modernism: Classic, minimal composition.
    Figuration: The passion for prints.
    Continentalism: Homage to European history.
    Excessivity: Testing the limits of extravagance.
    Animality: Inspiration from the natural world.
    Femasculinity: The crossover of the sexes.

    EVOLUTION is a detailed Prada timeline divided into multiple trajectories on a long electronic screen. The timeline juxtaposes men’s and women’s collections, as well as accompanying advertising campaigns and fashion show spaces, with art projects, architectural projects, and other special Prada events. In addition, adjacent display cases house architectural models from frequent collaborators Rem Koolhaas/oma and Herzog & de Meuron, books, exhibition catalogues, and other ephemera.

    SPECIMENS brings together shoes and bags from diverse seasons and recombines them to illustrate essential qualities that run through all collections. Surrounding vitrines focus on the painstaking process of design and prototyping that goes into every product.

    CONSTRUCTION includes a floor-to-ceiling video display that organises many of Prada’s most iconic looks by colour. The moving images are all drawn from runway footage shot during the fashion shows. Large-scale table vitrines present the precious, exotic, delicate, handmade textiles and innovative materials that make up Prada’s most exclusive designs.
    OBSERVATION is a screening room with a program of some of Prada’s most ambitious film/video projects produced in collaboration with directors including Ridley Scott, Roman Polanski, and Wes Anderson.

    Curated by Prada creative director Fabio Zambernardi in collaboration with New York-based designer and writer Michael Rock and his studio 2×4, the exhibition attempts to reveal something of the Prada method. “Pradasphere is a depiction of a collective, often exuberant, wildly creative design process.” notes Rock. “It is a story told primarily through things because design is a way of making in the world. And these things are extraordinary, both in their sensuality and as the manifestation of critical issues engaged by design that deals with the body— especially the female body— in such a direct way.” Revolving around these diverse references and influences, heritage and history, the iconic and the idiosyncratic, Pradasphere portrays a disruptive approach to design, style, art, and culture that is unique in the world of fashion today.

    Pradasphere is free and open to the public from November 19, 2014 to December 5, 2014.

    To find out more about Pradasphere, go to www.prada.com and follow Prada on Facebook and @Prada #Pradasphere on Twitter and Instagram.

    For further information:
    Prada Press Office
    +39 02541921
    ufficio.stampa@prada.com

     

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  • 2014-10-08 PRADA SPA ANNOUNCES THE ACQUISITION OF FRENCH TANNERY "TANNERIE MEGISSERIE HERVY"

    PRADA SPA ANNOUNCES THE ACQUISITION OF FRENCH TANNERY TANNERIE MEGISSERIE HERVY

    Milan, October 8, 2014 - Prada SpA announces the acquisition of the historic tannery Tannerie Mégisserie Hervy, located in Isle, near Limoges. The acquisition was made as a joint venture with Santa Croce-based Conceria Superior SpA, a company that has been the Prada Group’s industrial partner for a long time.

    The new company’s name, controlled by Prada SpA, will be Tannerie Limoges SAS.

    The purpose of the acquisition is to ensure the re-launch of a production facility that represents excellence in the tradition of lambskin tanning, and “plongé nappa leather” in particular, with the aim of preserving valuable artisanal know-how.

    Employment of the qualified local workforce will be maintained; preservation and conservation works will be carried out on the architectural site of the company, which has operated in the industry for over seventy years.

    Patrizio Bertelli, Prada Group CEO, stated: “We are very proud of this acquisition. The tannery is a highly skilled manufacture with a precious know-how and long tradition. We are also grateful for the French Ministry of Economy and Finance for allowing us to carry out this acquisition”.

    For further information:
    Prada Press Office
    Tel. +39.02.541921
    e-mail: ufficio.stampa@prada.com

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  • 2014-10-01 MIU MIU WOMENSWEAR SS15 FASHION SHOW

    On October 1st, 2014 Miu Miu unveils its Spring/Summer 2015 Women’s collection in Paris.

    The enduring architecture of Perret’s Palais d'Iena is confronted by the superimposition of a new structure. In parallel to the well-ordered composition of the Palais, AMO’s design aims to defy its cubic architecture by creating a field of arches, establishing newly framed views through the building.

    The linearity of this strategy is broken by an oval catwalk generating different relationships between the elements that compose the show.

  • 2014-09-19 PRADA SPA APPROVES GROUP RESULTS TO 31 JULY 2014 THE GROUP CONFIRMS MEDIUM-TERM GROWTH STRATEGY

    PRADA SPA APPROVES GROUP RESULTS TO 31 JULY 2014
    THE GROUP CONFIRMS MEDIUM-TERM GROWTH STRATEGY

    Milan, 19 September 2014 – The Prada SpA Board of Directors today examined and approved the Consolidated Interim Report for the six months ended July 31, 2014.

    Despite the difficult political and macroeconomic environment and unfavorable forex trends throughout the period, the Prada Group continued to prioritize long-term growth objectives with investment aimed at increasing brand value. At the same time, it sought to reduce short-term pressure on margins with measures to contain costs across the Group.

    Consolidated net revenues

    Consolidated net revenues totaled € 1,751.3 million, a 1.3% increase (+4.5% at constant exchange rates) on the € 1,728.1 million reported for the first half of 2013.

    Wholesale channel

    The rationalization of the wholesale channel is close to completion and sales in that channel grew by 1.3% (+1.8% at constant exchange rates) to reach Euro 288.7 million.

    Retail channel by geographical area

    The retail channel, which currently represents more than 83% of consolidated sales, also recorded growth of 1.4% at current exchange rates and 5.1% at constant exchange rates. Even though they were penalized by unfavorable exchange rates, the 566 Directly Operated Stores (DOS) generated sales of Euro 1,442.2 million.

    The Asia Pacific area shows a 2.1% decrease at current exchange rates but overall growth of 2.1% at constant exchange rates. Performance remains weak in Korea, Hong Kong and Singapore while China has accelerated with 11.8% growth at constant exchange rates and other Asian markets have maintained healthy rates of growth.

    The Americas market shows some positive signs, sustained by both domestic consumption and a greater contribution from tourist spending. The Group’s retail channel recorded 8.2% growth at current exchange rates and 14.2% growth at constant exchange rates in this geographical area.

    Europe remains penalized by weaker tourist flow and by the negative general economic environment which has hit domestic consumption. Sales fell slightly at constant exchange rates.

    Sales on the Japanese market again grew strongly despite the expected slowdown in purchases after the VAT increase at the beginning of April: +9.8% at current exchange rates, +19.5% at constant exchange rates.

    The Middle East has done extremely well with growth in the first half of the year standing at +16.1% at current exchange rates and +21% at constant exchange rates.

    Retail channel by brand

    Prada, which represents around 83% of Group sales, achieved 4.6% revenue growth at constant exchange rates and 0.9% growth at current exchange rates. The Men’s segment performed particularly well, in line with Group strategy focused on achieving growth for men’s collections in all geographical areas.

    Miu Miu continued to grow with a +7.1% increase at constant exchange rates (+2.9% at current exchange rates). Except in Europe, the brand continues to record excellent rates of growth on all markets.

    Church’s also did well with +12.4% growth at constant exchange rates (+13.8% at current exchange rates), as did Car Shoe with +3.6% growth at constant exchange rates (+2.7% at current exchange rates).

    Retail channel by product category

    Clothing and footwear performed well with growth of 18.3% and 22.6%, respectively, at constant exchange rates (+13.9% and +18.8% at current exchange rates). Meanwhile, revenues from sales of leather goods decreased by 1.4% at constant exchange rates (- 4.9% at current exchange rates), mainly because of a decrease in tourist footfall in the main shopping destinations in Europe and Asia since their spending is more oriented towards this product category.

    Margins

    Margins for the period were conditioned by the unfavorable forex trends and by the broadly stable level of revenues which was insufficient to absorb the increase in costs due to retail network expansion: 75 new store openings in the last twelve months, including 41 Prada, 29 Miu Miu and 5 Church’s.

    EBITDA amounted to Euro 492.8 million, or 28.1% of consolidated net revenues.

    EBIT totaled Euro 373.2 million or 21.3% of consolidated net revenues.

    Net profit was Euro 244.8 million or 14% of consolidated net revenues.

    Patrizio Bertelli, Chief Executive Officer of Prada Spa, commented: “Despite the current scenario is not showing signs of improvement and the difficult economic and geopolitical conditions are negatively influencing consumers attitude, we remain confident that the luxury goods market – especially the high-end segment where the Prada Group operates with success – will continue to offer interesting growth prospects in the medium-term. In recent years, we have been dedicated to the development of a balanced, global retail network, which has enabled us to establish a direct connection with our customer base and increased the value of our brands. The position now reached by the Group on the luxury goods market constitutes a solid base for medium-term growth of revenues and margins. We shall pursue such growth, paying ever greater attention to excellence, through a focused investment policy and the constant monitoring of costs.”

    For further information, please contact:

    Prada Press Office
    Tel. 02.541921
    e-mail: ufficio.stampa@prada.com

    PRADA Group
    The PRADA Group –HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. The Group also operates, under licensing agreements, in the eyewear, fragrance and mobile telephone sectors. Its products are sold in 70 countries worldwide through 566 directly operated stores (DOS) at July 31, 2014 and a select network of luxury department stores, independent retailers and franchise stores.

     

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  • 2014-09-18 PRADA WOMENSWEAR SS15 FASHION SHOW

    On September 18, 2014 Prada unveils its Spring/Summer 2015 Women’s collection in the Via Fogazzaro show space in Milan.

    Based on a concentric organization, the room develops around the central and irregular sand surface: a series of brown carpet covered steps runs along the perimeter, while a thin line of technical lights marks the perfectly white walls as a horizon.

    The combination between the irregular sand volumes and the geometry of the tribunes modifies constantly the relationship between the spectators and the fashion.

  • 2014-08-06 PRELIMINARY SALES FIGURES FIRST HALF OF FINANCIAL YEAR 2014

    PRELIMINARY SALES FIGURES FIRST HALF OF FINANCIAL YEAR 2014

    Milan, August 6th, 2014

    The consolidated net revenues of the Prada Group for the six months ended July 31, 2014 amount to Euro 1,750 million, a slight increase compared to the same period in 2013, +1% .

    Performance in the six month period was conditioned by unfavorable exchange rate trends: at constant exchange rates, revenues grew by 4%.

    Wholesale channel

    Wholesale channel sales recovered in the second quarter and recorded an overall increase of 1%, +2% at constant exchange rates, to stand at Euro 288 million.

    Retail channel by geographical area

    In a market environment characterized by a general fall in consumption also the retail channel, representing more than 83% of total sales, has held up well, recording revenues of Euro 1,442 million with a 1% increase compared to the first half of 2013; at constant exchange rates, the 566 directly operated stores achieved revenue growth of 5%.

    The trend differed somewhat from one geographical area to another:

    - the Asia Pacific markets recorded overall revenue growth of 2% at constant exchange rates (2% decrease at current exchange rates) with performance remaining weak in Korea, Hong Kong and Singapore, while China accelerated in second quarter, achieving 12% growth at constant exchange rates, and the other Asian markets managed steady rates of growth;

    - the positive trend in the Americas continues. The retail channel recorded 14% growth at constant exchange rates (+8% at current exchange rates) and was sustained by both domestic consumptions and a greater contribution from tourist spending;

    - revenues have fallen slightly compared to the first half of 2013 in Europe, -1% both at constant and current exchange rates, with the market again penalized primarily by a fall in the volume of tourism and by the negative general economic environment which has hit domestic consumption;

    - Japan again achieved another positive growth despite the expected slowdown in purchases after the VAT increase at the beginning of April: +19% at constant exchange rates and +10% at current exchange rates;

    - the revenue trend in the Middle East was excellent with strong growth in the first half of the year of 21% at constant exchange rates and +16% at current exchange rates.

    Retail channel by brand

    Prada brand revenues increased by 5% at constant exchange rates while, at current exchange rates, there was growth of 1%.

    The development for the Miu Miu brand continues: +7% at constant exchange rates and +3% at current exchange rates. Except in Europe, the brand continues to achieve high rates of growth on all markets.

    Church’s, +12% at constant exchange rates and +14% at current exchange rates, and Car Shoe, +3% at constant exchange rates and +2% at current exchange rates, also enjoyed positive revenue trends.

    Retail channel by product category

    Clothing and footwear performed extremely well with growth of 18% and 23%, respectively, at constant exchange rates (+14% and +19% at current exchange rates). Meanwhile, revenues from sales of leather goods decreased by 1% at constant exchange rates (-5% at current exchange rates) because of the fall in the number of tourists whose spending is more oriented towards this product category. The Men’s segment again enjoyed double digit growth, in line with Group strategy which aims to develop sales of men’s collections in all geographical areas.

    Patrizio Bertelli, Chief Executive Officer of Prada Spa, commented: “In the first six months of the 2014, the Group has operated in a more difficult political and macroeconomic environment than expected with unfavorable exchange rates and a general fall in consumption. Against this background, we have continued to focus our efforts on medium/long-term growth: our industrial, marketing and retail investments to sustain the quality of our products and our relationships with clients will continue to bear fruit, supporting the growth of the Group on all markets. In the coming months, our priority commitment shall be towards monitoring market trends and performance without, however, interrupting the implementation of our plans for growth. At the same time, we will implement a rigorous cost control program with the aim of protecting margins. Upon approval of the results for the first half of 2014, the Board of Directors shall – in light of the results achieved in the first half of the year and with a clearer view of the outlook for the months ahead – update its guidance for the year as a whole.

    Full results for the first half of financial year 2014 will be announced upon approval by the Board of Directors at a meeting provisionally scheduled for September 19, 2014.

    For further information please contact:
    Prada Press Office
    Tel. +39 02.541921
    e-mail: ufficio.stampa@prada.com

    PRADA Group
    The PRADA Group –HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. The Group also operates, under licensing agreements, in the eyewear, fragrance and mobile telephone sectors. Its products are sold in 70 countries worldwide through a network that included 566 directly operated stores (DOS) at July 31, 2014 and a select network of luxury department stores, independent retailers and franchise stores.

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  • 2014-07-05 MIU MIU 2014-2015 CROISIÈRE COLLECTION

    MIU MIU 2014-2015 CROISIÈRE COLLECTION

    Saturday, July 5th , Miu Miu took center stage with an exclusive event held at the Palais d’Iena with the attendance of important personalities from the world of cinema, art and fashion.

    The guests were welcomed by the voice of young English singer/songwriter Josephine Oniyama, followed by a presentation of the Miu Miu 2014-2015 Croisière Collection.

    The evening continued with a dinner and ended with a spectacular performance by internationally acclaimed US artist Jack White.

  • 2014-06-17 PRADA MENSWEAR FALL/WINTER 2014 CAMPAIGN

    PRADA MENSWEAR FALL/WINTER 2014 CAMPAIGN

    Annie Leibovitz photographs Golden Globe nominated James McAvoy for the Prada menswear fall/winter campaign.

    A leading man of cinema and style, McAvoy has been celebrated for his outstanding performances in The Last King of Scotland, Atonement and Filth, as well as the star-studded X-Men franchise. In him Leibovitz finds a charismatic and unpredictable conspirator, an introspective hero who brings an effortless intimacy and individuality to the menswear collection.

    The conversation between Prada and architecture is constant.
    The show space in January was designed as an experimental and informal stage for performance. As if in a theatre characters, set, music and costume came together to form an experience – open to the interpretation of the audience provocatively placed around, above and within the show space. From the orchestra pit concert group L’Usignolo performed music from Pina Bausch shows and the songs of Kurt Weill.

    Here McAvoy’s theatre is formed of concrete and stone, the austere landscape shot in black and grey, an homage to the German avant-garde. Concrete staircases, stone paving and a rocky coast swept by a grey sea bring a certainty and magnitude to the atmosphere of the photographs. Against this backdrop Leibovitz and McAvoy interpret the Prada man a play of multiple acts.

    Defiant tailoring, winter coats, utilitarian jackets and shirts with contrasting collars balance the personal and the stylized. A slim, sleek silhouette inspired by uniforms, especially those of military bands, brings an eccentric elegance.

    Gabardine, silk twill, mohair-silk blend and crepe de chine textures contrast the austere surroundings.
    The dramatic effect is an experimental narrative of bold and exceptional individuality.

    Watch the behind the scenes video on prada.com soon.

    For further information:
    Prada Press Office
    +39.02.541921
    ufficio.stampa@prada.com

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  • 2014-06-05 PRADA SPA APPROVES GROUP RESULTS FOR QUARTER ENDED APRIL 30, 2014

    PRADA SPA APPROVES GROUP RESULTS
    FOR QUARTER ENDED APRIL 30, 2014

    A QUARTER OF CONSOLIDATION IN THE GROUP’S GROWTH PROCESS

    Milan, June 5, 2014 – The Prada spa Board of Directors today reviewed and approved the consolidated results for the quarter ended April 30, 2014.

    Analysis of revenues

    Consolidated net revenues amounted to Euro 777.7 million, down by 0.6% (+3.8% at constant exchange rates) on the Euro 782.3 million reported for 1Q13; the decrease was entirely attributable to the wholesale channel.

    Wholesale channel

    The strategy of rationalization adopted in the wholesale channel will be completed in 2014 and has led to a 24.7% fall in wholesale sales (-23.9% at constant exchange rates). This decrease was in line with expectations, regarded all product categories and affected the Miu Miu brand to the greatest extent.

    Retail channel by geographical area

    In contrast, the retail channel has continued to expand and, despite unfavorable foreign exchange trends, the 551 directly operated stores generated sales of Euro 697.8 million, up by 2.8% on the first quarter of 2013; +7.7% at constant exchange rates.

    The Asia Pacific area recorded a 3.9% increase at constant exchange rates (-1.2% at current exchange rates). The performance of this area was affected by a slowdown in Korea, Hong Kong and Singapore while China, Macau and other Asian markets continue to show healthy rates of growth.

    The strong performance in the Americas must be highlighted. In spite of bad weather conditions, the retail channel in that area achieved 16.5% growth at constant exchange rates (+9.5% at current exchange rates).

    Sales in Europe remained broadly in line with 1Q13 with 1.1% increase at constant exchange rates (+0.2% at current exchange rates). Performance was affected mainly by a slump in the tourist footfall because of the further strengthening in Euro and geopolitical problems in Russia.

    Japan continues to perform extremely well and constant exchange rate growth stood at +30.5%. Notwithstanding the weakening of the Yen, Euro growth remained in double digits at +17.1% at current exchange rates.

    Retail channel by brand

    The Prada brand achieved 7.8% sales growth at constant exchange rates (+2.8% at current exchange rates) with excellent performances in Japan and in the Americas. We must highlight the excellent results achieved by all categories of Men’s products, in line with Group strategy which aims to develop Men’s collections in all geographical areas.

    The retail performance of the Miu Miu brand was also positive, +7.3% at constant exchange rates (+1.9% at current exchange rates), with growth achieved in all geographical areas (except Italy) and double digit growth in all important markets like Asia Pacific, the Americas, Japan and the Middle East.

    Church’s also achieved double digit sales growth of +13% at constant exchange rates (+13.5% at current exchange rates) while Car Shoe sales decreased.

    Retail channel by product category

    For some months now, Group strategy has favored more selective growth and a more balanced product portfolio. This has involved giving renewed impulse to innovation in all the collections: apparel, footwear and leather goods.

    As a result of these measures, apparel and footwear have achieved 19.4% and 20.9% growth, respectively, at constant exchange rates (+14.1% and +16.2% at current exchange rates) while sales of leather goods, which in the last two years have grown by 64% (from Euro 1.426 million in 2011 to Euro 2.333 million in 2013), are broadly in line with 1Q13, +2.2% at constant exchange rates (-2.6% at current exchange rates).

    Profitability

    Revenue stability and unfavorable foreign exchange trends have had a temporary impact on profit margins in 1Q14:

    EBITDA amounted to Euro 213.9 million, or 27.5% of consolidated net revenues.

    EBIT stood at Euro 156.3 million, or 20.1% of consolidated net revenues.

    Net profit was Euro 105.3 million, or 13.6% of consolidated net revenues.

    Thanks to cash flows generated during the quarter, the net financial position improved by Euro 53 million to stand at a positive Euro 349 million, after capex for the quarter of Euro 117 million.

    Patrizio Bertelli, Chief Executive Officer of Prada Spa, commended: “When presenting our results for 2013, we stated that our objective for 2014 would be to consolidate the position of the Prada Group at the top of the luxury goods segment with industrial, marketing and retail investments, primarily aimed at reinforcing business know-how, the quality of our products and relations with our customers. We do not believe that the current difficult macroeconomic environment, made all the more complex by unfavorable foreign exchange trends, will impact the plans for corporate growth presented to the market as these plans are geared towards the Group’s expansion in the medium/long-term. The trend of solid growth maintained in the retail channel confirms that we have made the right strategic decisions and encourages us to continue along our current path."

    For more information contact:

    Prada Press Office
    Tel. 02.541921
    e-mail: ufficio.stampa@prada.com

    PRADA Group
    The PRADA Group –HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. The Group also operates, under licensing agreements, in the eyewear, fragrances and mobile telephone sectors. Its products are sold in 70 countries worldwide through a network that included 551 directly operated stores (DOS) at April 30, 2014 and a select network of luxury department stores, independent retailers and franchise stores.

     

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  • 2014-04-30 PRADA COMES TO HARRODS

    PRADA COMES TO HARRODS

    Prada: A cosmos of its own
    composed of heavenly bodies
    set in a complex orbit.
    A universe of contradictions
    and endless elaborations—
    noble causes and base temptations—
    where idealism meets vanity,
    intelligence meets passion,
    fashion meets fiction.
    Welcome to the Pradasphere

    “Any modern city shop, with its elegant vitrines where
    useful and delightful objects are displayed, is more
    aesthetically pleasing than even the most praised passé
    exhibition. A metallic-white, tri-lucent sleek, super clean
    electric flatiron delights the eye more than a puny nude
    statuette perched on a worn-out pedestal repainted
    for the occasion. A typewriter is more architectonic than
    the buildings celebrated in academies and competitions.
    The windows of the perfume shop too, filled with boxes large
    and small, little bottles, and tiny future triple-colored phials,
    all reflected in extremely elegant mirrors; the clever and
    coquettish arrays of delicate ladies’ shoes; the bizarre
    ingenuity of multi-coloured umbrellas; fur, leather goods,
    silverware, all please the eye more than the grimy little
    paintings nailed to the grey walls of the passé painter’s studio.”
    Giacomo Balla
    Futurist Universe, 1918

    LONDON, UK, APRIL 30, 2014
    This May, Harrods Knightsbridge, the world’s most famous department store, hosts Prada as an honoured guest. The month-long celebration includes 40 window displays, a pop-up store, multiple screen displays, an elegant Marchesi café, and Pradasphere: an exhibition that traces the company’s multivalent obsessions—from fashion and accessories to art, architecture, cinema, sport and beyond.

    THE EXHIBITION
    Housed on the Fourth Floor of Harrods, Pradasphere is a collection of archival objects arranged to reveal the complex, often intertwined obsessions of Prada.
    The Prada vision is manifest in everything from fashion and accessories to art, architecture, film, and culture. Pradasphere posits that there are core ideas—beauty, taste, embellishment, gender, vanity, and power—that are repeatedly reworked through those diverse channels. The Prada oeuvre represents both an aesthetic journey and a critique enacted through the products of culture. Yet it is also an unabashed celebration of exquisite craftsmanship, a paean to the rare and the finely wrought, and a wholehearted endorsement of the stylistic iconoclast.

    The centrepiece of Pradasphere comprises six towering showcases dedicated to the central themes that have distinguished the work of Prada. The displays combine ensembles from multiple collections to demonstrate the recurrent concepts present in the products. In addition, the exhibition includes: heritage items from the Prada archives; shoes and bags from past collections organised by theme; examples of exquisite fabrics and materials; a Prada history wall that links the design collections with all of the extracurricular projects, from Fondazione Prada to Luna Rossa; a screening room presenting short films from directors such as Roman Polanski, Wes Anderson, Ridley Scott, and Yang Fudong; architectural projects from Rem Koolhaas/OMA and Herzog & de Meuron; and a library of publications, both physical and digital.

    A private lounge is adjacent to the exhibition space. The walls and ceiling of the intimate room are wrapped entirely in deep green velvet that matches the Clover Leaf sofas—a revival of Verner Panton’s modern classic reproduced exclusively for Prada—that furnish the space. The contrast created between the black-and-white carpeted floor and the velvet-covered walls adds to the aura of contemporary luxury.

    PRADA POP-UP STORE
    The 130m2 Prada pop-up store is on the Ground Floor adjacent to the entrance at the corner of Brompton Road and Hans Crescent. Designed in classic Prada style, the shop features an iconic black-and-white-chequered marble floor, slim polished-steel and crystal display shelves, striking black marble portals, steel and crystal display counters, and lilac velvet ottomans. The boutique showcases women’s leather goods, accessories, jewellery and eyewear.

    WINDOWS
    Harrods’ windows represent Prada’s multifaceted identity. The hybrid approach, a quintessential feature of Prada’s design philosophy, is evident in the recurrent themes and motifs combined in each tableau. The windows serve as an index of classic store elements, from marble floors to green ‘sponge’ walls. The windows also reference Prada’s contributions to popular culture, art, architecture, and film, revealing the complexity of the company’s approach to fashion.

    MARCHESI CAFÉ
    Directly alongside the Pradasphere exhibition, against a backdrop of the London skyline, is the Marchesi café, patisserie, and restaurant. Marchesi is a legendary Milanese patisserie founded in 1824, renowned for its wide range of delicious pastries, chocolates, and Panettone, the traditional Milanese Christmas cake. The original architecture of the balcony room, with its exquisite boiserie and subtle lighting, has been preserved for the temporary café. The wallpaper covering the bar counter features exact replicas of the details and decorations found at the original Marchesi patisserie, and the bar mirrors display images of its early 20th-century splendour. Opposite the bar, a wall with mirrors and crystal-lined alcoves presents a selection of Marchesi products and a display of boxed delicacies.

    Pradasphere is a collaboration between Prada and 2x4 New York

    Pradasphere at Harrods will be open from May 2 – 29, 2014 at the world famous Knightsbridge store. To find out more about Pradasphere at Harrods, go to www.harrods.com and follow @Harrods @Prada #Pradasphere.

    For further information, please contact:
    Prada Press Office +3902541921
    ufficio.stampa@prada.com

    Harrods Press Office
    Selina Katz +44 (0) 20 7893 8122
    selina.katz@harrods.com

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  • 2014-04-02 THE PRADA GROUP APPROVES ITS 2013 ANNUAL REPORT

    THE PRADA GROUP APPROVES ITS 2013 ANNUAL REPORT

    Consolidated net revenues of Euro 3,587 million, +9%
    EBITDA of Euro 1,143 million, +9%
    EBIT of Euro 939 million, +6%
    Net income of Euro 628 million, in line with prior year
    Positive net financial position of Euro 296 million

    Milan, April 2, 2014 – The Prada spa Board of Directors met today to review and approve the separate financial statements of Prada spa and the consolidated financial statements for the year ended January 31, 2014.

    In 2013, the PRADA Group successfully continued its expansion in the global luxury goods market. By combining quality, stylistic innovation, excellent customer service and a retail presence in the most prestigious international locations, for the fourth consecutive year, the Group achieved a high rate of growth and operating profit among the highest in the sector.

    Consolidated net revenues totaled Euro 3,587.3 million, an 8.8% increase (+13.3% at constant exchange rates) on the Euro 3,297.2 million reported for 2012.

    EBITDA grew by 8.6% compared to 2012 to reach Euro 1,143.2 million, remaining stable at 31.9% of consolidated net revenues.

    EBIT also grew by 5.6% to stand at Euro 939.2 million even though the major capex program carried out in recent years has led to higher depreciation and amortization.

    Net income was somewhat hit by foreign exchange losses and a greater tax burden but still amounted to Euro 627.8 million, broadly in line with prior year.

    The net financial position was positive by Euro 296 million and benefited from strong cash flow generation which financed major investing activities during the year – including the purchase of a prestigious property on Old Bond Street, London – and the distribution of dividends of Euro 230 million to the shareholders.

    The Board proposes payment of a dividend of Euro 0.11 per share. This proposal will be put to the Shareholders’ General Meeting convened on May 22.

    Analysis of Revenues

    Distribution channels

    In 2013, the retail channel generated 84.5% of the Group revenues and, once again, was the main revenue growth driver, in line with the Group’s distribution strategy. DOS (“Directly Operated Stores”) sales generated revenues of Euro 2,996.6 million, a 12.5% increase on prior year (+17.8% at constant exchange rates) thanks to both new DOS openings and Like-for-Like growth which totaled 7%.

    During the year, the Group expanded the retail network from 461 DOS at January 31, 2013 to 540 DOS at January 31, 2014, including 330 Prada, 150 Miu Miu, 52 Church’s and 8 Car Shoe.

    The wholesale channel was affected by the ongoing selective approach to the independent customer base in Europe and by the conversion of retail corners in North American department stores into DOS. Wholesale sales revenues totaled Euro 551.6 million, down by 6.9% on prior year (-5.8% at constant exchange rates).

    Geographical areas

    Growth on all markets:

    - the European market held up well given the difficult economic environment and the recent strengthening of the Euro. Revenue growth of 4.8% was recorded (+6% at constant exchange rates), all of it attributable to the retail channel (+10.9% at constant exchange rates) while the wholesale channel recorded a fall in revenues compared to prior year;

    - the Americas Market again performed strongly in the fourth quarter and recorded 10.9% revenue growth for the year as a whole (+15.3% at constant exchange rates). The retail channel did extremely well with 36.3% growth at constant exchange rates;

    - Asia Pacific achieved significant progress in 2013 with 11.4% growth (+14.4% at constant exchange rates). The Greater China area made a key contribution to the growth of the area as a whole, reaching sales of Euro 826 million (+14.7% at constant exchange rates).

    - the period of growth continued in Japan where sales increased by 23.6% at constant exchange rates though the continuing weakness of the Yen meant that Euro equivalent revenues were broadly in line with 2012 ( +1%).

    - the contribution of the Middle East area to Group sales increased greatly: in the twelve months ended January 31, 2014, revenues totaled Euro 91.1 million, almost twice the figure of Euro 44.8 million recorded in 2012.

    Brands

    Prada achieved excellent results with 11.1% revenue growth (+15.6% at constant exchange rates), especially in the retail channel where the brand recorded one of the highest rates of growth in the sector: +19.6% at constant exchange rates.

    Miu Miu also achieved revenue growth of +1.2% (+6.5% at constant exchange rates). In this case, too, the growth was driven by the retail channel (+10.1% at constant exchange rates) with even higher growth recorded in the Americas, China and other emerging markets.

    The Church’s brand also recorded revenue growth in 2013 (+3.2% at constant exchange rates) while Car Shoe revenues decreased because of the downturn in the wholesale channel.

    Patrizio Bertelli, Chief Executive Officer of Prada spa, declared: “We are very satisfied with the work done over the last few years and the results achieved in terms of growth and profitability which encourage us to continue along our path of development. Even though the macroeconomic situation remains difficult and the continuing strength of the Euro does not help with exports, we are confident that the luxury goods sector will continue to grow and that, faced with rapidly changing consumer tastes and preferences, we will draw on our creativity and innovative capacity which enables us to interpret and, often, anticipate market trends”.

    For further information, please contact:

    Prada spa
    Prada Press Office

    Tel. +39.02.541921
    e-mail: ufficio.stampa@prada.com

    PRADA Group
    The PRADA Group –HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. The Group also operates, under licensing agreements, in the eyewear, fragrances and mobile telephone sectors. Its products are sold in 70 countries worldwide through a network that included 540 directly operated stores (DOS) at January 31, 2014 and a selected network of luxury department stores, independent retailers and franchise stores.

     

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  • 2014-03-14 PRADA SPA ANNOUNCES THE ACQUISITION OF 80% OF ANGELO MARCHESI SRL

    PRADA SPA ANNOUNCES THE ACQUISITION OF 80% OF ANGELO MARCHESI SRL

    Milan, 14th March 2014 - Prada SpA announces the acquisition of 80% of Angelo Marchesi Srl, owners of the historic Milanese pastry shop founded in 1824.

    Ever since it opened its doors for the first time, the Pasticceria Marchesi has occupied an 18th-century building in Corso Magenta in Milan. Renowned for the production of high-quality pastries and chocolate, as well as for its typical “Panettone”, it has over the years become a favourite of the sophisticated Milanese public.

    The acquisition seeks to promote and assure the strategic strengthening of the brand within a series of future development projects, both within Milan – in the new Prada spaces in the Galleria Vittorio Emanuele II – and internationally.

    Angelo Giovanni Marchesi will continue to be involved in running the company as Managing Director to ensure the continuity and correct integration with Prada.

    Angelo Giovanni Marchesi declares: “Our goal is to assure the development and continuity of our historic name in accordance with the same principles of quality and excellence that have characterised it in almost two centuries of history. Prada, Milanese in heart and tradition like ourselves, has given us these guarantees and it is thus with satisfaction and confidence for the future that I signed this agreement”.

    Patrizio Bertelli, Managing Director of Prada SpA, declares: “Marchesi represents a symbol of Milanese excellence and I am happy we have stipulated this agreement with the family that founded the historic brand. Our goal is to collaborate in an effective manner in its development and in full respect of its tradition”.

    For further information:
    Prada Press Office
    Tel. +39.02.541921
    e-mail: ufficio.stampa@prada.com

     

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  • 2014-03-06 MIU MIU WOMENSWEAR FW2014 FASHION SHOW

    MIU MIU WOMENSWEAR FW2014 FASHION SHOW

    The FW 2014 Miu Miu show aims to manipulate the grandeur of the Palais d’Iena. A complex and brutal scaffolding structure frames the imposing colonnade of the Salle Hypostyle, defining the central catwalk. Portions of the scaffolding generate social areas along the CESE. Different levels accommodate the guests creating varying conditions to perceive the show. A mantle of transparent pvc enfolds the installation and parts of the building while black recycled rubber is laid on the floor of the structure, softening the hardness of the elements.

  • 2014-02-21 PRADA WOMENSWEAR FW2014 FASHION SHOW

    PRADA WOMENSWEAR FW2014 FASHION SHOW
     
    On February 20, 2014 Prada unveils its Fall/Winter 2014 Women’s collection in the Via Fogazzaro show space in Milan  designed as an experimental and informal stage for performance. A large 1m high platform occupies the center of the room.
    The majority of the audience is orderly arranged around the central stage, while the room is bordered on all sides by metal scaffolding serving as balcony to the rest of the public. Different geometric excavations punctuate the central stage; surprisingly part of the audience sits inside these pockets, becoming part of the overall scenography.
  • 2014-02-12 PRELIMINARY SALES FIGURES OF FINANCIAL YEAR 2013

    PRESS RELEASE

    PRELIMINARY SALES FIGURES FOR FINANCIAL YEAR 2013

    ANOTHER YEAR OF GROWTH FOR THE PRADA GROUP
    Total sales + 13% at constant exchange rates
    Retail sales + 18% at constant exchange rates
    Same Stores Sales Growth + 7 %

    Milan, February 12, 2014

    The Prada Group recorded sales of Euro 3,586 million in the financial year ended January 31, 2014, a 9% increase on financial year 2012. At constant exchange rates, sales grew by 13%.

    Sales channel

    Sales by Directly Operated Stores totaled Euro 2,996 million with a 12% increase on the previous financial year (+18% at constant exchange rates). The growth was thanks to newly opened stores and to Same Store Sales Growth of 7%, which remained constant in all four quarters. Meanwhile, wholesale channel sales decreased by 7% (- 6% at constant exchange rates), entirely as a result of the strategy adopted by the Group in recent years to streamline the wholesale network and, in Europe in particular, to be selective of independent retailers based on quality and reliability.

    Geographical area

    Strong growth on all markets:

    -Asia Pacific achieved important progress in 2013 with growth of 11% (+14% at constant exchange rates). Greater China made a fundamental contribution to growth in this area with sales for the year of Euro 826 million, +15% at constant exchange rates.

    - the American market again performed extremely well in the fourth quarter and achieved 11% growth for the year as a whole (+15% at constant exchange rates), PRADA spa entirely thanks to the retail channel which grew by 36% at constant exchange rates.

    - the European market held up well, bearing in mind the difficult economic environment and the recent strengthening of the Euro, with sales growth of 5% (+6% at constant exchange rates); as in the United States, the growth was driven by the retail channel (+11% at constant exchange rates), while wholesale channel sales were down on the previous financial year.

    - Japan continues its expansionary phase and revenues grew by 24% at constant exchange rates, though the ongoing weakening of the Yen meant that Euro equivalent revenues were broadly in line with 2012 (+1%).

    - the contribution made by the Middle East to Group sales grew strongly: at January 31, 2014, there were some 16 DOS in this area and they generated sales of Euro 90 million.

    Brands

    The Prada brand achieved excellent results with sales growth of +11%, (+16% at constant exchange rates), especially in the retail channel where it recorded one of the highest growth rates in the sector (+20% at constant exchange rates), confirming the strength of the brand.

    Miu Miu also achieved sales growth of +1% (+6% at constant exchange rates). In this case, too, the retail channel drove sales growth (+10% at constant exchange rates) with encouraging signs from emerging markets (including China) and the Americas.

    The Church’s also recorded a positive trend in 2013 with +3% sales growth at constant exchange rates while Car Shoe sales were down because of the decrease in the wholesale channel.

    During the year, in line with its strategy, the Group continued to expand the retail network opening 79 stores (net) and reaching a total of 540 DOS (Directly Operated Stores) at the end of January 2014; this total included 330 Prada DOS, 150 Miu Miu, 52 Church’s and 8 Car Shoe.

    Patrizio Bertelli, Chief Executive Officer of Prada Spa declared “The 2013 financial year was the fourth consecutive year of strong growth. Against an unfavorable background of PRADA spa exchange rate volatility and the ongoing negative economic situation in Europe, we have maintained one of the highest rates of growth in the sector and have continued to pursue our objectives of retail growth. Moreover, in Italy, we launched a program of investment to improve our production structure and train our human resources with the aim of achieving constant improvement of quality and growth of industrial culture. The investments made, together with important marketing initiatives in support of the image of our brands, enable us to look forward with confidence to further progress in 2014.

    The presence of our retail network on all markets, our leadership in terms of creativity and innovation and the strength of our brands will provide a strong foundation for our future strategy.

    Full results regarding performance in the 2013 financial year will be published following approval by the Board of Directors at the meeting provisionally scheduled for April 2, 2014.

    For further information, please contact:

    Prada spa
    Prada Press

    Office Tel. 02.541921
    e-mail: ufficio.stampa@prada.com

    PRADA Group
    The PRADA Group –HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. The Group also operates, under licensing agreements, in the eyewear, fragrances and mobile telephone sectors. Its products are sold in 70 countries worldwide through 540 directly operated stores (DOS) at January 31, 2014 and a select network of luxury department stores, independent retailers and franchise stores.

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  • 2014-01-12 PRADA MENSWEAR FW2014 FASHION SHOW

    PRADA MENSWEAR FW2014 FASHION SHOW

    On January 12, 2014 Prada unveils its Fall/Winter 2014 Men’s collection in the Via Fogazzaro show space in Milan designed as an experimental and informal stage for performance. A large 1m high platform occupies the center of the room.

    The majority of the audience is orderly arranged around the central stage, while the room is bordered on all sides by metal scaffolding serving as balcony to the rest of the public. Different geometric excavations punctuate the central stage; surprisingly part of the audience sits inside these pockets, becoming part of the overall scenography of the show.

  • 2013-12-20 PRADA APPROVES RESULTS FOR THE NINE MONTHS ENDED OCTOBER 31, 2013: THE GROUP AGAIN ACHIEVES SOLID GROWTH

    PRADA APPROVES RESULTS FOR
    THE NINE MONTHS ENDED OCTOBER 31, 2013
    THE GROUP AGAIN ACHIEVES SOLID GROWTH

    Consolidated net revenues of € 2,576.1 million, + 10.1%
    EBITDA of € 821 million, + 12.8%
    EBIT of € 677.8 million, + 10.7%
    Group Net Income of € 440.9 million, + 7.9%
    Positive Net Financial Position of € 303.5 million

    Milan, December 20, 2013 – The Prada SpA Board of Directors, which met today, has examined and approved the Interim Consolidated Report for the nine months ended October 31, 2013.

    CONSOLIDATED NET REVENUES totaled Euro 2,576.1 million, up by 10.1% on the Euro 2,339.3 million reported for the first nine months of 2012. At constant exchange rates, the rate of growth would have been 14.3%.

    EBITDA amounted to Euro 821 million and increased by 12.8% on the same period in 2012, representing 31.9% of consolidated net revenues.

    EBIT amounts to € 677.8 million, 26.3% of consolidated net revenues and up by 10.7% on the first nine months of 2012.

    NET INCOME has increased by 7.9% to Euro 440.9 million and represents 17.1% of consolidated net revenues.

    The net financial position is positive by Euro 303.5 million after financing capex for the period of Euro 416 million and distributing dividends of Euro 230 million to shareholders.

    Distribution channels

    Sales by directly operated stores (516 DOS at October 31, 2013) totaled € 2,182 million with a 13.8% increase compared to the first nine months of 2012 (+18.7% at constant exchange rates). Meanwhile, wholesale channel sales decreased by 6.5% (- 5.5% at constant exchange rates), in line with the selective strategy adopted in relation to independent retailers.

    Markets

    Sustained growth was achieved in all geographical areas:

    - Asia Pacific growth slowed down slightly in the third quarter but continued to be strong at 14.4% (+16.7 at constant exchange rates); a significant contribution was made by DOSs in Greater China.

    - the American market recorded another excellent performance this quarter with growth of 13.5% (+17.5% at constant exchange rates), almost entirely thanks to the retail channel which continues to accelerate.

    - the European market held up well with 5.2% growth (+6.5% at constant exchange rates), though there were contrasting trends in the two distribution channels: sales through the retail network recorded double digit growth, largely thanks to the flow of travelers/tourists, while the wholesale channel recorded a drop in revenues.

    - Japan continues its expansionary phase and revenues grew by 18.6% at constant exchange rates though the ongoing weakening of the Yen meant that Euro equivalent revenues actually fell by 2.9%.

    - the contribution made by the Middle East to Group sales grew strongly: at October 31, 2013, there were some 16 DSOs in this area and they generated revenues of Euro 65 million.

    Brands

    The Prada brand achieved double digit growth of +12.7% (+16.8% at constant exchange rates). Revenue growth was also achieved by Miu Miu, +2% (+7.1% at constant exchange rates) and Church’s, +2.2% (+5.6% at constant exchange rates). Meanwhile, Car Shoe revenues fell, largely because of the decline of the wholesale channel. 

    Investment

    Capex for the period totaled Euro 416 million including the purchase of retail properties in London and St Petersburg. It was mainly invested in the opening of new stores and the expansion and renovation of existing ones.

    Patrizio Bertelli, Chief Executive Officer of Prada Spa commented: “ In a quarter again affected by unfavorable foreign exchange trends and a general slowdown in consumption, the Prada Group continued to grow also through retail network expansion, while maintaining the high levels of profitability already achieved. We are satisfied with these results which encourage us to continue along a path of long-term growth, based on a balanced presence in all markets and on the undisputed stylistic leadership of our brands.

    For further information, please contact:

    Prada Press Office
    Tel. 02.541921
    e-mail: ufficio.stampa@prada.com

    PRADA Group
    The PRADA Group –HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. The Group also operates, under licensing agreements, in the eyewear, fragrances and mobile telephone sectors. Its products are sold in 70 countries worldwide through 516 directly operated stores (DOS) at October 31, 2013 and a select network of luxury department stores, independent retailers and franchise stores.

     

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  • 2013-12-03 BFC HONOURED MIUCCIA PRADA WITH THE INTERNATIONAL DESIGNER OF THE YEAR AWARD

    The British Fashion Council (BFC) honoured Miuccia Prada with the International Designer of the Year award during its annual ceremony which took place in London on December 2, 2013. The award was presented by Gwyneth Paltrow.

    To recognise the ever-increasing globalisation of the fashion industry, the International Designer of the Year award was introduced this year to celebrate an influential international designer making waves on the global fashion scene. The inaugural award was won by Miuccia Prada who is renowned for her season defining collections that consistently set the agenda of the fashion industry.

  • 2013-11-27 CROWN SOVEREIGN 140th ANNIVERSARY

    CROWN SOVEREIGN 140th ANNIVERSARY

    To celebrate their 140th anniversary, Church’s creates a ‘limited edition’ style of the iconic Crown Sovereign.

    Available in both men’s and women’s versions and made in Royal Blue velvet with silver thread embroidery that highlights the classic crown on the front.

    Each piece has been customised by hand from numbers 1 to 800 and presented in special packaging.

    The limited edition will be available in stores this Christmas 2013.

    Church’s - established in 1873 in Northampton (UK) - has ever since been a world leader in manufacturing and distributing men's and women's top-quality footwear. In 1999 it became a part of the PRADA Group, that now owns 100% of its capital.

    For information:
    Flavio Cerbone
    Press Office Church’s
    T +39 02 541921
    pressoffice.church@prada.com
    www.church-footwear.com

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  • 2013-11-12 CASTELLO CAVALCANTI BY WES ANDERSON

    CASTELLO CAVALCANTI BY WES ANDERSON
    PRADA CLASSIC # 3*
     
    Prada is proud to present its latest film collaboration: an eight-minute short by acclaimed American director Wes Anderson.

    Castello Cavalcanti is part of Anderson’s ongoing auteur universe, which includes the ‘modern classics’, The Royal Tenenbaums, The Darjeeling Limited and Moonrise Kingdom — except this time, we’re in Italy, it’s September 1955, and Jason Schwartzman has just crashed his racing car into Jesus Christ.

    What ensues is a ‘Wes Andersonian’ folk tale about fate. Filmed on a pitch-perfect period set in Cinecittà, Castello Cavalcanti finds the urbane, slick Schwartzman stranded in a small town that’s been skipped over by modernity. “Where am I?” he asks. The locals pause from playing cards and point at a brick building: “Castello Cavalcanti.”

    It’s a one piazza kind of place, where everyone’s distantly related to everyone else, the bus comes not very often, and family secrets are shared over spaghetti.

    Suddenly, Schwartzman’s lost outsider realizes that Castello Cavalcanti is not nowhere. It’s somewhere. Special. Ancestral. Nothing happens without reason, and the steering wheel that his brother-in-law put on back to front may be part of a master plan. “In a way I’m glad I crashed,” he confesses. “It’s a warning for me.”

    Castello Cavalcanti is cinematographed by the celebrated Darius Khondji, whose camera darts around the set like a curious telescope. Bright, acid colours of fifties Formica and neon signage glow. A glance of a pretty waitress. The generosity of strangers. It’s home as it used to be.

    Castello Cavalcanti follows on from Prada’s 2012 collaboration with Roman Polanski, A Therapy, which featured Helena Bonham-Carter and Ben Kingsley. The short film will debut, with a world première at the Rome Film Festival on November 13th 2013 as part of the “Special Events Out of Competition” section.

    The film is available on www.prada.com from 6:30 pm CET.

    * Iconoclastic and experimental, the Prada Classics project continues to redefine those boundaries, reachingin to the adjacent fields of art, architecture and film. Castello Cavalcanti is the latest incarnation. From the filmic imagination of Wes Anderson to the history of Italian cinema, it is an extension of the cinematic scope of the Prada universe.

    CAST & CREW
    Jason Schwartzman
    Giada Colagrande

    Written and directed by Wes Anderson
    Cinematography: Darius Khondji
    Editing: Stephen Perkins
    Production Design: Stefano Ortolani
    Costumes Design: Milena Canonero
    Music: Alessandro Casella & Randall Poster
    Production: The Directors Bureau in association with Hi! Production

    For further information:
    Prada Press Office
    Tel. +39.02.541921
    e-mail: ufficio.stampa@prada.com

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  • 2013-10-30 COTY INC. AND PRADA SA ANNOUNCE FRAGRANCE PARTNERSHIP

    COTY INC. AND PRADA SA ANNOUNCE FRAGRANCE PARTNERSHIP
    Renowned Beauty Leader to Debut Signature Scent for the Miu Miu Brand

    NEW YORK, October 30, 2013 – Coty Inc. (NYSE: COTY) and Prada Group (HKSE: Prada, 1913) announced today the formation of an exclusive partnership to create, develop and distribute a signature line of fragrances under the Miu Miu name. Following its successful results as a luxury fashion brand, the partnership marks Miu Miu’s first entrée into the world of prestige fragrances.

    Created in 1993, Miu Miu – the other vision of Miuccia Prada on fashion – is a brand with a strong personality, provocative and sensual as well as free-spirited and avant-garde. During the years, Miu Miu has evolved into one of the leading high-fashion brands in the world, targeting sophisticated women, receptive to new trends and ideas and inspired to explore and experiment in their fashion choices.

    Coty has a proven reputation for faithfully translating the core values of highly selective and sophisticated designer brands into successful fragrance businesses while maintaining great respect for the brands’ DNA and the utmost attention to quality.

    “The agreement with Coty, an internationally recognized reference in the luxury fragrance market, marks a major step forward in Miu Miu's development plan,” said Patrizio Bertelli, CEO, Prada Group “I am therefore sure that, leveraging on Coty’s know-how and Miu Miu’s strong identity, this partnership will be a worldwide success of mutual satisfaction to both companies.”

    “Miu Miu is one of the most refined and respected luxury houses in the world and one of the fastest growing global brands in the whole fashion industry,” said Michele Scannavini, CEO, Coty Inc. “It is an exciting opportunity for Coty to build a worldwide fragrance business for Miu Miu and also to further build our own market share in the prestige fragrance market.”

    The Miu Miu fragrance line is expected to debut in 2015.

    ###

    About Coty Inc.
    Coty is a leading global beauty company with net revenues of $4.6 billion for the fiscal year ended June 30, 2013. Founded in Paris in 1904, Coty is a pure play beauty company with a portfolio of well-known fragrances, color cosmetics and skin & body care products sold in over 130 countries and territories. Coty’s product offerings include such global brands as Balenciaga, Bottega Veneta, Calvin Klein, Chloé and Marc Jacobs.

    For additional information about Coty Inc., please visit www.coty.com.

    About Miu Miu
    The Miu Miu brand, created in 1993, embodies style and sensuality. It is sophisticated yet nonchalant. The Miu Miu style has a strong identity, is creative and possesses an independent spirit. Miu Miu is part of the Prada Group, one of the world leaders in the luxury goods sector where it operates also with the Prada, Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. Its products are sold in 70 countries worldwide through a network that included 491 directly operated stores (DOS) as of July 31, 2013, and a select network of luxury department stores, independent retailers and franchise stores.

    PRESS CONTACTS:

    MIU MIU:
    Miu Miu Press Office
    pressoffice@miumiu.com
    T : +39 02 3498121

    COTY INC.:
    Cysette Burset
    Vice President, Corporate Public Relation
    scysette_burset@cotyinc.com
    T : +1 212 479 4549
    F : +1 212 479 4357

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  • 2013-10-23 PRADA JOURNAL: A PLACE FOR NEW STORIES

    PRADA JOURNAL: a place for new stories

    On October 23rd 2013 in the New York Epicenter at 575 Broadway, Prada unveiled the winners ofthe Prada Journal literary contest.

    To mark this occasion, the Prada Epicenter store was transformed into a contemporary “theater of conversation and exchange”. The inspiration came from the classic literary salon. A three dimensional editorial experience about telling stories. The best environment for reading has been achieved by creating an echo optimized space using acoustic absorption panels and black carpet. A number of dedicated set up interventions transformed the space acoustically as well as visually. The lighting has been conceived as theatrical, dramatic, intimate, dark and warm.

    The contest, launched by Prada in partnership with Giangiacomo Feltrinelli on 18 April 2013, drew participation of new talents from all over the world.

    1.313 accepted the creative challenge and sent in their manuscripts to respond to the query posed by Prada Journal.

    “What are the realities that our eyes give back to us? And how are these realities filtered through lenses?”

    Mattia Conti, Leisl Egan, Angel Mario Fernández, Sarah Harris Waman and Peng Yang are the five winners who will receive the amount of 5000 Euro each.
    Prada and Feltrinelli will then publish the winner’s short stories as a digital book which will be available on prada.com within 2013.

    In a world of images, Prada emphasizes the strength of words: words sharply focused through the lenses of the Prada Journal optical collection. Thus, the glasses become a privileged tool to explore the surrounding reality and reformulate it in words.

    The Event began at 7pm when Jonathan Ames, Zoe Kazan, Anthony Mackie, Jay McInerney and Gary Shteyngart lent their voices to the winning stories during a reading moment. Oliver Platt was the master of ceremony.

    DJ Jeffrey Tonnesen animated the cocktail till late.

    Guests included Mamie Gummer, Paul Dano, Giovanna Battaglia, Zani Gugelmann, Christopher Bollen, Sofia Sanchez Barrenchea, Jessica Joffe, Meredith Melling, Michael Avedon, Valerie Boster and Olivier Rizzo.

    The Winning Authors

    Gli occhi di Malrico – Mattia Conti

    Malrico is short-sighted. So much so that he can’t see anything barely beyond his nose. Not even the pebble glasses his mother had worked so hard to give him were of any help. Then Teresa came. She, on the other hand, was long-sighted. Strangely, the two started seeing one another for no other reason other than they complemented each other. A tale that accompanies us from the main character’s childhood to his old age. A delicate story which, though succinct, succeeds in its intent of talking about a whole lifetime.

    Mattia Conti was born in 1989. He currently lives in Molteno in the province of Lecco, Italy. In 2011he won the Premio Campiello Giovani.

    Punchline - Leisl Egan

    Moptop, Poxy, Vladimir and Big Cheese: a group of clowns who put on shows that no one enjoys anymore. This tragic situation is made worse by Moptop’s fits of depression and the arrival of Moondust, whose performances overshadow the other characters. A story of dignity and lost love in which this motley troupe of actors tries desperately to show its audience an amazing reality. They’ll soon find out that there is no show more moving that true reality, seen and filtered through the only, powerful lens that can make it memorable: our heart.

    Leisl Egan was born in 1980. She lives in Melbourne, Australia, where she writes for television.

    Juan se fue a las estrellas - Angel Mario Fernández

    Carlitos is six and has lost his brother, Juan. When he asks his mother where he has gone she tell shim Juan flew to heaven on a pair of wings. Confused and full of questions, Carlitos spends his time asking himself where his brother could be, if he’s alone and if he really got to heaven. This marks the start of a tender journey in search of a path to the stars. With a mixture of innocence and tenderness, Carlitos walks through the wood behind his home, looking for the secret passage that will lead him to his brother.

    Angel Mario Fernández was born in Argentina in 1959. He lives in Soraluze, in the autonomous community of the Basque Country.

    One Car Hooks Into The Next and Pulls - Sarah Harris Wallman

    A train travels its route and observes its passengers as they get on and off. A silent, disillusioned commentator of human behaviour, its eyes see through the windows and register everything, even its passengers’ most intimate moments. An elegant woman and a businessman, in particular. A reflection on the fickleness of relationships seen through non-human eyes which nonetheless clearly see the pettiness of human mistakes.

    Sarah Harris Wallman was born in 1978 and is a university lecturer and writer. She lives in Connecticut, USA, where she teaches at Albertus Magnus College.

    Gray Story – Peng Yang

    A bizarre storm and a foundling. This is a story peppered with visionary descriptions, exchanges of letters and news articles. A summary of different viewpoints on the life of this little boy dumb from birth yet capable of weaving all kinds of wonderful animals and figures with his hands. As they punctuate the shows of a shadow theatre, these hands have the task of opening others’ eyes as they move elegantly through the languor of a rural setting where we see a floating barge moored in the river, night sky lanterns, bamboo canes and a cobalt moon.

    Peng Yang was born in 1984. He lives in Beijing, China, where he graduated from the Beijing Film Academy. He is a writer.

    The Journal Collection

    The new Prada Journal collection continues along the stylistic lines proposed in the previous season, carrying on the intimate, original narration of a world uniquely captured by lenses, and ultimately by one’s own eyes. The collection reinterprets the classic concept of eyeglasses transforming it into a style object that reflects the multiple facets of the intimate individual world.

    The Journal Collection develops around Prada’s desire to design eyewear capable of expressing individual personality and emphasizing individual style.

    The narration unwinds through two optical models that enrich the Journal Collection and provide fragments of reality with a sharp contour, rearranging them harmoniously with a new language. The women’s versions of the collection feature a sophisticated blend of classic and elaborate forms; in men’s versions, the geometry of the lines and the substantial volumes assert the distinctive character of Prada eyewear.

    The models that comprise the new Prada Journal collection were featured in the Prada Women’s and Prada Men’s advertising campaigns for the 2013 Fall/Winter season.

    VPR14Q – women’s model
    The Women’s optical model of the new Journal collection features a vaguely 50s elegance, with its square acetate front and slight hint of a cat’s eyes shape. Painstakingly finished and smoothed temples create a quasi-vintage 3D effect. Besides the classic Black and middle Tortoiseshell, the colour palette playfully combines Ivory, Cocoa and Purple fronts with Tortoiseshell temples in the Orchid, Sand-Dark Brown and Cocoa-Purple versions.

    VPR11Q – men’s model
    The Men’s of the new Journal collection combines a classic rectangular shape with the creative twist of bold acetate. The clean-shaped geometric temples feature a metal detail that highlights the Prada lettering logo. Along with classic Black and Tortoiseshell, the model is offered in the refined tones of Cocoa and Marbled Black. Exclusive silk-screen acetates with the hounds tooth print of the Prada Menswear FW13 collection enrich the insides of the temples in the black and cocoa variants.

    Prada Group
    The Prada Group is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. The Group also operates, under licensing agreements, in the eyewear, fragrances and mobile telephone sectors. Its products are sold in 70 countries worldwide through a network that included 491 directly operated stores at July 31, 2013 and a select network of luxury department stores, independent retailers and franchise stores. Information on Prada Group is available at www.pradagroup.com.

    Giangiacomo Feltrinelli Editore S.r.l.
    The Giangiacomo Feltrinelli publishing house, established in 1955, is one of the leading Italian publishing organisations, with its over 8,000 catalogue titles, 270 new publications per year and an active booklist including about 3,000 titles.
    With its catalogue and its editorial selection, the publishing house aims at stating the continuity of its civil and political heritage, its taste and need for innovation, experimentation, openness towards new frontiers and new publishing adventures.
    Feltrinelli is proud of being the first Italian publisher of the most significant authors and books on the international scene; amongst others, the house publishes Nobel prize laureates Nadine Gordimer, Imre Kértesz, José Saramago, Doris Lessing, Herta Muller, Muhammad Yunus.
    Italian authors in the catalogue include Roberto Saviano, Antonio Tabucchi, Alessandro Baricco, Erri De Luca, Stefano Benni, Maurizio Maggiani, Cristina Comencini, Simonetta Agnello Hornby for fiction. In non-fiction, the main authors are Umberto Galimberti, Enrico Deaglio, Eugenio Borgna, Carlo Ginzburg, Massimo Recalcati.
    Besides its main non-fiction and fiction collections, and the paperback line Universale Economica Feltrinelli, in relatively recent years the publishing house enriched its production by adding travel fiction, children's fiction, miscellaneous fiction and home cinema series.

    Luxottica Group S.p.A.
    Luxottica Group is a leader in premium, luxury and sports eyewear with approximately 7,000 optical and sun retail stores in North America, Asia-Pacific, China, South Africa, Latin America and Europe, and a strong, well-balanced brand portfolio. Proprietary brands include Ray-Ban, the world’s most famous sun eyewear brand, Oakley, Vogue Eyewear, Persol, Oliver Peoples, Alain Mikli and Arnette, while licensed brands include Giorgio Armani, Bulgari, Burberry, Chanel, Coach, Dolce & Gabbana, Donna Karan, Polo Ralph Lauren, Prada, Starck Eyes, Tiffany and Versace. In addition to a global wholesale network involving 130 different countries, the Group manages leading retail chains in major markets, including LensCrafters, Pearle Vision and ILORI in North America, OPSM and Laubman & Pank in Asia-Pacific, LensCrafters in China, GMO in Latin America and Sunglass Hut worldwide. The Group's products are designed and manufactured at its six manufacturing plants in Italy, two wholly owned plants in the People’s Republic of China, one plant in Brazil and one plant in the United States devoted to the production of sports eyewear. In 2012, Luxottica Group posted net sales of more than Euro 7.0 billion. Additional information on the Group is available at www.luxottica.com.

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  • 2013-10-16 CHRISTMAS 2013: A JOYFUL OBSESSION BY PRADA IN PARTNERSHIP WITH PRINTEMPS PARIS

    Christmas 2013: A Joyful Obsession by Prada
    In partnership with Printemps Paris

    For Christmas 2013, Printemps, the iconic Parisian department store, has chosen to join forces with Prada to celebrate Christmas in its purest tradition. The project will be unveiled at the beginning of November.

    Prada and Printemps are re-interpreting and enchanting customers yet again with the essential and obsessional Christmas classics.

    The façades at Printemps Haussmann department store will showcase the magic of Christmas Eve: carried by his legendary reindeer, in a smoldering scattering of stars and snowflakes, Santa Claus takes off into the sky on his 16-metre sleigh and glides along the emblematic House of Savoy’s coat of arms and knotted rope of Prada that is draped elegantly across the façade.

    The Prada and Printemps “Joyful Obsession” Christmas will then take shape in eleven window displays on boulevard Haussmann, where tradition and originality mingle for a truly exceptional Christmas. Two of Prada’s renowned symbols - the chequered pattern and the teddy bear – will be showcased in a new and original concept.

    In the heart of the department store, the atrium will be transformed for the occasion in the traditional and surrealist re-interpretation of the Prada historic store in Milan Galleria Vittorio Emanuele II, playing host to all of the products designed exclusively by Prada for Printemps. A giant Advent calendar, in the style of traditional Italian architecture, will cover the main walls. The numbered windows will offer glimpses of animated mannequins as well as gift boxes made of the iconic Prada ‘saffiano leather’.

    The special designed collection will include sophisticated ready-to-wear, bags, accessories and shoes featuring exclusive prints and colors, as well as typical Christmas gifts such as original advent calendars, carillons, foulards, essences and candles.

    For further information:
    Prada Press Office
    +3902541921
    ufficio.stampa@prada.com

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  • 2013-10-02 MIU MIU WOMENSWEAR SS2014 FASHION SHOW

    MIU MIU WOMENSWEAR SS2014 FASHION SHOW

    On October 2, 2013 Miu Miu unveils its Spring/Summer 2014 Women’s collection in Paris. For the occasion, the monumental and rigorous ground floor of the Palais d’Iena is spontaneously occupied: an eclectic collection of devices and materials are freely distributed across the space, as a continuous unfolding of deconstructed domestic experiences. Materials such as vinyl, wood, plastic, carpet, foam overlap to the existing architecture in a multitude of forms and colors, cladding seats, tribunes, stairs, columns… while fantasy wallpapers border part of the perimeter of the existing spaces.

  • 2013-09-19 PRADA WOMENSWEAR SS2014 FASHION SHOW

    PRADA WOMENSWEAR SS2014 FASHION SHOW

    On September 19, 2013 Prada unveils its Spring/Summer 2014 Women’s collection in the Via Fogazzaro show space in Milan and presents “In the Heart of the Multitude”, a new project in the long tradition of creative collaborations. Prada invited muralists Miles “El Mac” MacGregor, Mesa, Gabriel Specter and Stinkfish, and illustrators Jeanne Detallante and Pierre Mornet to engage themes of femininity, representation, power and multiplicity on the walls of the show space.

  • 2013-09-17 PRADA GROUP APPROVES ITS INTERIM REPORT AT JULY 31, 2013: REVENUE AND PROFIT GROWTH

    PRADA GROUP APPROVES ITS INTERIM REPORT AT JULY 31, 2013: REVENUE AND PROFIT GROWTH

    Consolidated net revenues of € 1,728.1 million, +11,7% EBITDA of € 551.1 million, +17.4%
    EBIT of € 458.3 million, +16.1%
    Group Net Income of € 308.2 million, +7.6%
    Net financial position shows net cash of € 195.6 million

    Milan, September 17, 2013 – The Prada SpA Board of Directors today examined and approved the interim report for the six months ended July 31, 2013.

    CONSOLIDATED NET REVENUES totaled € 1,728.1 million, an 11.7% increase (+14.8% at constant exchange rates) on the € 1,547.4 million reported in the first half of 2012.

    EBITDA amounted to € 551.1 million – reaching 31.9% of consolidated net revenues – and increased by 17.4% compared to the first half of 2012.

    EBIT stood at € 458.3 million - or 26.5% of consolidated net revenues – with a 16.1% increase on the first half of 2012.

    NET INCOME totaled € 308.2 million, 17.8% of consolidated net revenues.

    Distribution channels

    Sales by Directly Operated Stores (491 DOS at July 31, 2013) totaled € 1,422.5 million with a significant 15.7% increase compared to the first half of 2012 (+19.5% at constant exchange rates).

    Meanwhile the wholesale channel with sales of € 285.1 million at July 31, 2013 recorded a 3.3% decrease (- 2.7% at constant exchange rates), as a result of the selective strategy the Group has been following for some years now. Once more, in the first half of 2013, this strategy led to a significant reduction in the number of wholesale partners.

    Markets
    Asia Pacific – and Greater China, in particular – have recorded above average revenue growth of 17.9% (+18.7% at constant exchange rates).

    In the Americas, revenue growth, +13.4% (+15.9% at constant exchange rates), was achieved thanks to the retail channel, which marked an acceleration compared to the first quarter.

    Revenue growth of 5.6% has been achieved on the European market (+6.6% at constant exchange rates), but with contrasting performances in the two distribution channels: sales through the retail network recorded double digit growth, largely thanks to a strong flow of travelers/tourists, while the wholesale channel saw a drop in revenues.

    Sales in Japan accelerated in the second quarter to a 16.4% revenue growth, at constant exchange rates, though the ongoing weakness of the Yen meant that Euro revenues actually fell.

    Brands

    The Prada brand again enjoyed solid, double digit growth of 14.3% (+17.4% at constant exchange rates). Revenue growth was also achieved by Miu Miu, +4.1% (+8.2% at constant exchange rates) and Church’s, +5.4% (+8% at constant exchange rates). Meanwhile, Car Shoe revenues fell, largely because of the decline of the wholesale channel.

    Investment

    During the period capex, totaling Euro 293 million, was mainly invested in the retail segment to open new stores and to expand and renovate existing ones.

    Patrizio Bertelli, Chief Executive Officer of Prada Spa commented: “We are satisfied with the results achieved in the first half of 2013: revenues have increased in all geographical areas where the Group operates and we have further improved our operating margins. Our business model, based on a balanced global geographical presence and on the strength of our brands, has enabled us effectively to face the challenges thrown down by an international economic environment which remains uncertain and extremely volatile. The objectives achieved to date, the flexibility of our organizational structure and constant monitoring of the markets mean we can look ahead with confidence to the near future”.

    For further information, please contact:

    Prada Press Office
    Tel. +39.02.541921
    e-mail: ufficio.stampa@prada.com

    The PRADA Group –HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. The Group also operates, under licensing agreements, in the eyewear, fragrances and mobile telephone sectors. Its products are sold in 70 countries worldwide through a network that included 491 directly operated stores (DOS) at July 31, 2013 and a select network of luxury department stores, independent retailers and franchise stores.

     

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  • 2013-09-11 MIUCCIA PRADA AND CATHERINE MARTIN DRESS GATSBY EXHIBITION IN SHANGHAI

    Costumes designed by Miuccia Prada and Catherine Martin for Baz Luhrmann’s upcoming film ‘The Great Gatsby’ are now on display in Shanghai.

    The travelling exhibition - titled Catherine Martin and Miuccia Prada Dress Gatsby - at the Prada IFC store includes women’s gowns, dresses, hats, shoes and jewelry by Prada and Miu Miu as well as sketches, production stills, backstage footage and film trailers.

  • 2013-08-29 THE WOMEN’S TALES AT THE VENICE FILM FESTIVAL’S GIORNATE DEGLI AUTORI

    THE WOMEN’S TALES AT THE VENICE FILM FESTIVAL’S GIORNATE DEGLI AUTORI

    The latest two short films in Miu Miu’s acclaimed series, the Women’s Tales, premiere as part of the Venice Film Festival’s Giornate degli Autori – Venice Days program on August 29th, 2013. The latest films are The Door, directed by Ava DuVernay and Le Donne della Vucciria, directed by Hiam Abbass.

    To complete the program, a series of talks - devoted to the theme of female creativity – will be held in the following two days (August 30 and August 31).

    The three conversations cover different creative stages in filmmaking: directing (The Creativity of Seeing), production (The Creativity of Producing), and acting (The Creativity of Acting). For the first, Hiam Abbass and Ava DuVernay "face off" against their actor counterparts Gabrielle Union and Roberto Zibetti (the only male participant in the project). For the second, insiders eagerly await the talk between Jules Daly (producer of The Door and The A-Team, among others) and Sue Kroll (President of Worldwide Marketing and International Distribution for Warner Bros. Pictures). Lastly, two actresses such as Freida Pinto (of the marvellous turn in Danny Boyle’s Slumdog Millionaire) and Michelle Dockery (a household name thanks to her role as Mary Crawley in the award-winning TV series Downton Abbey).

    www.miumiu.com

  • 2013-08-08 PRELIMINARY SALES FIGURES FIRST HALF OF FINANCIAL YEAR 2013

    PRELIMINARY SALES FIGURES

    FIRST HALF OF FINANCIAL YEAR 2013

    Prada Group continues to achieve growth: +15% at constant exchange rates

    Milan, August 8th 2013

    The Prada Group confirmed its strong rate of growth in the first half of financial year 2013, in line with the positive trend seen in the first quarter.

    Consolidated net revenues at July 31, 2013 amounted to Euro 1,727 million, an 11.6% increase on Euro 1,547 million for 1H12.

    At constant exchange rates, there was 14.8% growth.

    Distribution channels

    Sales through directly operated stores reached Euro 1,422 million, an increase of 15.6% (+19.5% at constant exchange rates) thanks to both newly opened stores and Same Store Sales Growth (SSSG) of +7%.

    Meanwhile, the wholesale channel recorded a 3.5% drop in sales (-3% at constant exchange rates) after the selective strategy adopted by the Group which led to a reduction in the number of wholesale partners by more than one hundred.

    Markets

    Growth was well balanced across all geographical areas:

    - the Asia Pacific market grew by 17.7% (+18.6% at constant exchange rates) with a significant contribution made by Greater China,

    - the Americas market recorded 13.5% growth (+16% at constant exchange rates), thanks to the excellent results achieved in the retail channel,

    - the European market was boosted, above all, by the high number of tourists and achieved 5.7% growth (+6.7% at constant exchange rates) with the retail channel in line with 1Q13, which recorded double digit growth,

    - the Japanese market recorded 16.4% growth at constant exchange rates, though this was not reflected in its Euro equivalent sales because of the persistent weakness of the yen.

    Brands

    The Prada brand recorded further growth of 14.3% (+17.3% at constant exchange rates). Miu Miu, +3.7% (+7.8% at constant exchange rates) and Church’s +5.1% (+8.3% at constant exchange rates) also performed well, while the revenues of Car Shoe fell because of the overall reduction in the wholesale channel.

    In the first half of financial year 2013, the Group continued to expand its retail network, opening 30 new stores (net) and taking the total number of DOS (Directly Operated Stores) to 491 at the end of July 2013: 301 Prada stores, 133 Miu Miu stores, 49 Church’s stores and 8 Car Shoe stores.

    Patrizio Bertelli, Chief Executive Officer of Prada Spa, commented: “In an increasingly more extensive and global market for luxury goods and in an extremely volatile international economic environment, the Prada Group continues to achieve strong growth, proceeding with conviction and determination along its chosen path of development. We shall continue to base our long term growth strategy on the balanced international expansion of our retail network, achieving efficiency in all areas and constantly seeking quality and stylistic innovation”.

    Full results for the first half of financial year 2013 will be announced upon approval by the Board of Directors at a meeting provisionally scheduled for September 17, 2013.

    For further information, please contact:

    Prada Press Office
    Tel. 02.541921
    e-mail: ufficio.stampa@prada.com

    PRADA Group
    The PRADA Group –HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. The Group also operates, under licensing agreements, in the eyewear, fragrance and mobile telephone sectors. Its products are sold in 70 countries worldwide through a network that included 491 directly operated stores (DOS) at July 31, 2013 and a select network of luxury department stores, independent retailers and franchise stores.

     

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  • 2013-06-11 PRADA SPA APPROVES GROUP RESULTS FOR FIRST QUARTER OF 2013: POSITIVE TREND OF GROWTH CONFIRMED

    PRESS RELEASE

    PRADA SPA APPROVES GROUP RESULTS FOR FIRST QUARTER OF 2013: POSITIVE TREND OF GROWTH CONFIRMED

    CONSOLIDATED NET REVENUES of Euro 782 million, +14%
    EBITDA of Euro 241 million, +20%
    EBIT of Euro 196 million, +19%
    NET INCOME of Euro 138 million, +14%
    Positive NET FINANCIAL POSITION of Euro 360.5 million

    Milan, June 11, 2013 – The Prada spa Board of Directors today reviewed and approved the consolidated results for the quarter ended April 30, 2013 which show steady revenue and earnings growth.

    Consolidated net revenues amounted to Euro 782.3 million, a 13.9% increase (+15.2% at constant exchange rates) on the Euro 686.7 million reported for 1Q12.

    EBITDA amounted to Euro 240.8 million, a 20.4% increase on 1Q12, and represented 30.8% of consolidated net revenues.

    EBIT amounted to Euro 195.7 million and represented 25% of consolidated net revenues, improved from 24% reported in 1Q12.

    Net income increased by 13.5% from Euro 121.7 million in 1Q12 to Euro 138.2 million in 1Q13.

    The positive Net Financial Position improved to Euro 360.5 million from Euro 312.6 million at January 31, 2013.

    Analysis of revenues

    Distribution channels

    Revenues for the quarter followed contrasting trends in the two main distribution channels. Sales through Directly Operated Stores (462 DOS at April 30, 2013) amounted to Euro 678.7 million and increased by 19.1% (+20.8% at constant exchange rates); they were also sustained by solid Same Store Sales Growth of +8%. Meanwhile, sales in the wholesale channel fell by 9.4%, in line with expectations and as a result of the selective approach to independent customers.

    Markets

    The Asia Pacific market grew by 24.8% (+23.1% at constant exchange rates) thanks to the strong contribution of Directly Operated Stores in Greater China.

    A similar trend was seen in the Americas with +23% growth at constant exchange rates. In the Americas, growth in the retail channel was accompanied by a healthy increase in the wholesale channel, confirming the strength of the US market.

    The European market remained broadly unchanged (+1.3% growth at constant exchange rates) with contrasting dynamics in each of the two main distribution channels: sales through the retail network, primarily boosted by the healthy flow of travelers, continued to enjoy double figure growth while the wholesale channel recorded a significant drop in revenues.

    The Japanese market recovered well with revenue growth of 12.2% at constant exchange rates, though the weakening of the Yen resulted in a 1.8% drop in revenues in Euro.

    Brands

    The Prada brand achieved +18% revenue growth (+19.1% at constant exchange rates), confirming its solidity. Miu Miu also performed well with +5% growth (+7.4% at constant exchange rates) as did Church’s with a +2.8% increase (+4.7% at constant exchange rates). However, the revenues of Car Shoe fell because of the overall reduction in the wholesale channel.

    Products

    Revenues from sales of leather goods again grew strongly with a +29% increase and reached almost 70% of consolidated net revenues for the quarter. Meanwhile, apparel and footwear, more exposed to the wholesale channel, recorded revenue decreases of 5.1% and 12.2%, respectively.

    Patrizio Bertelli, Chief Executive Officer of Prada Spa, commented: “In an international economic environment that remains extremely volatile and uncertain, the Prada Group has recorded another highly positive quarter, continuing along is path of development founded on solid and lasting growth. In 2013, we will again concentrate on the international expansion of our retail network but without moving away from tight control over costs and working capital, also in order to safeguard our cash flow generation”.

    For further information, please contact:
    Prada Press Office
    Tel. +39.02.541921
    e-mail: ufficio.stampa@prada.com

    PRADA Group
    The PRADA Group –HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. The Group also operates, under licensing agreements, in the eyewear, fragrances and mobile telephone sectors. Its products are sold in 70 countries worldwide through a network that included 462 directly operated stores (DOS) at April 30, 2013 and a select network of luxury department stores, independent retailers and franchise stores.

    PDF
  • 2013-05-07 CAR SHOE PRODUCES A LIMITED EDITION OF THE FAMED MOCCASIN FOR THE 50TH ANNIVERSARY OF LAMBORGHINI

    Car Shoe produces a limited edition of the famed moccasin for the 50th anniversary of Lamborghini

    Sant'Agata Bolognese, May 7th 2013. Car Shoe (Gruppo Prada), the celebrated italian that was started in 1963, is honoring the 50th anniversary of Automobili Lamborghini by producing a limited edition of their famous moccasin: a metal logo of the 50th anniversary features on the lace and the Lamborghini shield is enameled on the back and printed on the insole.

    A shoe that best expresses the italian craftsmanship, revisited to underline both brands anniversary.

    The new moccasin for the Lamborghini Grande Giro tour, is a shoe giving excellent comfort and practicality. Made entirely by hand, it is made of “toro“ calf leather with contrasting laces and leather soles with rubber studs. The driving shoe retains all the features that distinguished this moccasin over the last fifty years: the shoe sole is perforated to complement the rubber studs made with tire tread compound.

    This commemorative moccasin will be given to all the drivers and staff participating in the Lamborghini Grande Giro, where the crews of 350 Lamborghini cars will drive 1200 km through Italy from May 7th to 11th.

    The loafer is available in different colors and presented in a refined packaging, with Car Shoe and Lamborghini dual branding and will be sold in all the Car Shoe flagship stores and online through the e-commerce website.

    CAR SHOE was established in Italy in 1963 by the creative artisan Gianni Mostile. His passion for race-cars and hand-made shoes sparked the invention of a moccasin with a sole set on tiny rubber nubs, which earned him a patent from the Italian Ministry of Industry and Trade as well as a large group of sophisticated connoisseurs, both in Italy and abroad (Giovanni Agnelli, JFK, Roberto Rossellini, Lapo Elkann among the others). PRADA Group took over the stake of Car Shoe in 2001 and has, since then, aimed to invest in the future of the brand by focusing on its historic values of quality and innovation.

    Car Shoe press office
    Tel. +39.02.541921
    pressoffice.carshoe@prada.com

    Milano, May 7th 2013

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  • 2013-04-18 PRADA, IN KEEPING WITH THE BRAND'S INNOVATIVE SPIRIT, LAUNCHES A LITERARY CONTEST IN COOPERATION WITH GIANGIACOMO FELTRINELLI EDITORE

    PRADA JOURNAL: a place for new stories

    18 April 2013 – Prada, in keeping with the brand's innovative spirit, launches a literary contest in cooperation with Giangiacomo Feltrinelli Editore.

    As it spans across fashion and literature, Prada continues in a quest for new talents, with Feltrinelli Editore contributing to the house with its fifty years of publishing experience. This prompts the search for new artists who can see the world with a unique, rare gaze.
    The literary contest also stems from the curiosity to explore innovative languages by means of forms of expression leading to the written word, thus creating an independent platform of interest and an unprecedented reserve for literary research.

    “What are the realities that our eyes give back to us? And how are these realities filtered through lenses?”

    By using the metaphor of prescription glasses, Prada enters a world made of written words, rather than spoken, thus launching a challenge to explore and enhance the individual interpretation of reality. Optical frames become an opportunity and a tool to investigate diverse creative worlds: a preferred channel and a window on our world, and - why not - on new potential worlds.

     

     

    The contest opens today, April 18, and it will close on June 18.

    All information on Prada.com/journal

     

     

    Prada Group
    The Prada Group is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. The Group also operates, under licensing agreements, in the eyewear, fragrances and mobile telephone sectors. Its products are sold in 70 countries worldwide through a network that included 461 directly operated stores at January 31, 2013 and a select network of luxury department stores, independent retailers and franchise stores. Information on Prada Group is available at www.pradagroup.com

    Giangiacomo Feltrinelli Editore S.r.l.
    The Giangiacomo Feltrinelli publishing house, established in 1955, is one of the leading Italian publishing organisations, with its over 8,000 catalogue titles, 270 new publications per year and an active booklist including about 3,000 titles.
    With its catalogue and its editorial selection, the publishing house aims at stating the continuity of its civil and political heritage, its taste and need for innovation, experimentation, openness towards new frontiers and new publishing adventures.
    Feltrinelli is proud of being the first Italian publisher of the most significant authors and books on the international scene; amongst others, the house publishes Nobel prize laureates Nadine Gordimer, Imre Ke?rtesz, Jose? Saramago, Doris Lessing, Herta Muller, Muhammad Yunus. Italian authors in the catalogue include Roberto Saviano, Antonio Tabucchi, Alessandro Baricco, Erri De Luca, Stefano Benni, Maurizio Maggiani, Cristina Comencini, Simonetta Agnello Hornby for fiction. In non-fiction, the main authors are Umberto Galimberti, Enrico Deaglio, Eugenio Borgna, Carlo Ginzburg, Massimo Recalcati.
    Besides its main non-fiction and fiction collections, and the paperback line Universale Economica Feltrinelli, in relatively recent years the publishing house enriched its production by adding travel fiction, children's fiction, miscellaneous fiction and home cinema series.

    Luxottica Group S.p.A.
    Luxottica Group is a leader in premium, luxury and sports eyewear with approximately 7,000 optical and sun retail stores in North America, Asia-Pacific, China, South Africa, Latin America and Europe, and a strong, well-balanced brand portfolio. House brands include Ray-Ban, the world’s most famous sun eyewear brand, Oakley, Vogue Eyewear, Persol, Oliver Peoples, Alain Mikli, Arnette and REVO, while licensed brands include Giorgio Armani, Bvlgari, Burberry, Chanel, Coach, Dolce & Gabbana, Donna Karan, Polo Ralph Lauren, Prada, Starck Eyes, Tiffany and Versace. In addition to a global wholesale network involving 130 different countries, the Group manages leading retail chains in major markets, including LensCrafters, Pearle Vision and ILORI in North America, OPSM and Laubman & Pank in Asia-Pacific, LensCrafters in China, GMO in Latin America and Sunglass Hut worldwide. The Group's products are designed and manufactured at its six manufacturing plants in Italy, two wholly owned plants in the People’s Republic of China, one plant in Brazil and one plant in the United States devoted to the production of sports eyewear. In 2012, Luxottica Group posted net sales of more than €7.0 billion. Additional information on the Group is available at www.luxottica.com

    Safe Harbor Statement
    Certain statements in this press release may constitute “forward looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those which are anticipated. Such risks and uncertainties include, but are not limited to, the ability to manage the effects of the current uncertain international economic outlook, the ability to successfully acquire and integrate new businesses, the ability to predict future economic conditions and changes to consumer preferences, the ability to successfully introduce and market new products, the ability to maintain an efficient distribution system, the ability to achieve and manage growth, the ability to negotiate and maintain favourable license agreements, the availability of correction alternatives to prescription eyeglasses, fluctuations in exchange rates, changes in local conditions, the ability to protect intellectual property, the ability to maintain relations with those hosting our stores, computer system problems, inventory-related risks, credit and insurance risks, changes to tax regimes as well as other political, economic and technological factors and other risks and uncertainties referred to in Luxottica Group’s filings with the U.S. Securities and Exchange Commission. These forward looking statements are made as of the date hereof and Luxottica Group does not assume any obligation to update them.

    Info:

    Ufficio Stampa Prada
    Ph. +39 02 54 19 21
    ufficio.stampa@prada.com
    Ufficio Stampa Luxottica
    Ph. +39 02 86 33 46 33
    cristina.parenti@luxottica.com

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  • 2013-04-05 THE PRADA GROUP APPROVES ITS 2012 ANNUAL REPORT: REVENUES AND EARNINGS GROWTH

    PRESS RELEASE 

    THE PRADA GROUP APPROVES ITS 2012 ANNUAL REPORT:

    REVENUES AND EARNINGS GROWTH  

     

    Consolidated net revenues of Euro 3,297.2 million, +29%

    EBITDA of Euro 1,052.5 million, +38.6%

    EBIT of Euro 889.8 million, +41.5%

    Net income of Euro 625.7 million, +44.9%

    Positive net financial position of Euro 312.6 million

    Further retail network expansion with 78 new DOS opened during the year

    461 DOS at January 31, 2013

     

    Milan, April 5, 2013 – The Prada Spa Board of Directors met today to review and approve the separate financial statements of Prada Spa and the consolidated financial statements for the year ended January 31, 2013.  

    During the year, the Prada Group continued along its path of growth based on expanding the network of Directly Operated Stores (DOS): the 78 DOS opened during the year, along with major refurbishment and extension of existing stores, not only strengthened the Group’s position on traditional markets but also extended its presence in new, fast growing countries. The Prada Group confirmed its position to the fore of the luxury goods segment with revenues in excess of Euro 3 billion and earnings among the highest in the sector.  

    Consolidated net revenues totaled Euro 3,297.2 million, a 29% increase (+23% at constant exchange rates) on the Euro 2,555.6 million reported for 2011.  

    EBITDA reached Euro 1,052.5 million, represented 31.9% of consolidated net revenues and increased by 38.6% on 2011.  

    EBIT amounted to Euro 889.8 million, represented 27% of consolidated net revenues and increased by 41.5% on 2011.  

    Net income increased by 44.9% from Euro 431.9 million in 2011 to Euro 625.7 million in 2012 and represented 19% of consolidated net revenues.

    The net financial position was positive and improved from Euro 13.6 million at February 1, 2012 to Euro 312.6 million at January 31, 2013 thanks to strong cash flow generation which also funded capital expenditure and dividend payments to the shareholders.  

    Earnings per share increased by 41% from Euro 0.17 in 2011, to Euro 0.24 in 2012.  

    The Board proposes payment of a dividend of Euro 0.09 per share. This proposal will be subject for approval to the Shareholders’ General Meeting convened on May 23 2013, in Milan.  

    Analysis of Revenues

    Distribution channels

    In line with the Group’s distribution strategy, in 2012 the retail channel again made the greatest contribution to revenue growth. DOS sales generated revenues of Euro 2,664.2 million, a 35.6% increase on prior year (+28.6% at constant exchange rates) thanks to the contributions made by both new stores and existing stores. In 2012, the retail channel represented 81.8% of the Group’s consolidated net revenues, compared to 77.9% in 2011.  

    The wholesale channel generated net revenues of Euro 592.2 million, an increase of 6% (+2.9% at constant exchange rates), notwithstanding the decision to reduce the number of independent customers also following the opening of new DOS.  

    Royalties income also grew by 26.4% mainly thanks to the launch of the new Prada by LG cell phone which, with more than half a million units sold, confirms Prada’s continuing status as a benchmark for innovation and design.

    Markets

    Double-digit growth was achieved on all markets with an increasingly important role played by Asia Pacific where revenues increased by 32.9% compared to 2011 (+22.7% at constant exchange rates) to reach Euro 1,160.2 million.  

    The increase achieved in Europe, +28.6% (+27.2% at constant exchange rates) was also very significant. Healthy growth rates were also recorded on other markets: the Americas +23.3%, (at constant exchange rates +14.8%) and even Japan which remains a solid market with a 14.2% increase (+ 7.9% at constant exchange rates).  

    The contribution made by the Middle East to the Group’s revenues is becoming important – 11 DOS have been opened in the last two years and the market generated net revenues of Euro 45 million in 2012.  

    Brands and products

    All of the Group’s brands and product categories performed well. Leather goods registered revenue growth of 42.7%, clothing and footwear increased by 9.9% and 11.7%, respectively.  

    Patrizio Bertelli, Chief Executive Officer of Prada Spa, commented “ The year 2012 saw the Group set new records in terms of revenues and earnings. Based on these results and a sound equity and financial structure, we will proceed along our path of growth with further investment on retail network expansion, confident that, general economic uncertainty notwithstanding, the work that has been done over the past few years has laid the foundations for the future success of our business.”  

    For further information: 
    Prada Press Office
    Tel. +39.02.541921
    e-mail: ufficio.stampa@prada.com

    PRADA Group
    The PRADA Group –HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. The Group also operates, under licensing agreements, in the eyewear, fragrances and mobile telephone sectors. Its products are sold in 70 countries worldwide through a network that included 461 directly operated stores (DOS) at January 31, 2013 and a select network of luxury department stores, independent retailers and franchise stores.

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  • 2013-02-19 PRELIMINARY SALES FIGURES FOR FINANCIAL YEAR 2012

    PRESS RELEASE
     
    PRELIMINARY SALES FIGURES FOR FINANCIAL YEAR 2012
     
     
    A year of strong growth for the Prada Group:
    consolidated revenues up by 29% to Euro 3,297 million
     
     
    Milan, February 19th, 2013
     
    - Prada Group net revenues for financial year 2012, ended January 31 2013, amounted to Euro 3,297 million, a 29% increase on financial year 2011.
     
    At constant exchange rates, the Group enjoyed sales growth of 23%.
     
    - Retail channel sales now represent 82% of total sales and amounted to Euro 2,664 million, a 36% increase on 2011 (+29% at constant exchange rates). New stores contributed towards this growth as did existing stores, with Same Store Sales Growth – at constant exchange rates – standing at 14%.
     
    - Wholesale sales grew by 6% even though the number of indirect points of sale decreased following an increase in the number of newly opened retail stores.
     
    All geographical areas contributed towards the Group’s sales growth:
     
    - Italy +19%
     
    - Rest of Europe +36% (+33% at constant exchange rates)
     
    - Asia Pacific +33% (+23% at constant exchange rates)
     
    - Americas +23% (+15% at constant exchange rates)
     
    - Japan +14% ( +8% at constant exchange rates)
     
    - The growth of the business was driven mainly by the Prada and Miu Miu brands which enjoyed sales increases of 33% and 16%, respectively.
     
    Notwithstanding the decision to significantly reduce sales at mark-down in the last weeks of the financial year, growth in the fourth quarter stood at +14%, at constant exchange rates.
     
    In financial year 2012, in line with its strategy, the Group continued to expand its retail network, opening 78 new stores and taking the total number of DOS (Directly Operated Stores) to 461 at the end of January, including 283 Prada stores, 126 Miu Miu stores, 45 Church’s stores and 7 Car Shoe stores.
     
    Patrizio Bertelli, Chief Executive Officer of Prada Spa, commented “In a year characterized by a particularly difficult international economic environment, our Group has made further important progress along its path of growth, consolidating its position at the head of the luxury goods sector. The strength of our brands, our ability to interpret and anticipate market trends and our global retail network continue to form the basis for our long-term growth strategy”.
     
    The audited consolidated results of the Group for the financial year ended January 31, 2013 are tentatively scheduled to be announced by the Company on April 5.
     
    For further information, please contact:
     
    Prada spa
    Luca Grassis
    +39 02 55028933
    luca.grassis@prada.com

     

    luca.grassis@prada.com
     
    PRADA Group
    The PRADA Group –HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. The Group also operates, under licensing agreements, in the eyewear, fragrances and mobile telephone sectors. Its products are sold in 70 countries worldwide through a network that included 461 directly operated stores (DOS) at January 31, 2012 and a select network of luxury department stores, independent retailers and franchise stores.
    PDF
  • 2013-02-14 WITH THE 14TH EXCLUSIVE SCENT REACHING ITS STORES, PRADA PRESENTS THE WEB APPLICATION DEDICATED TO “ROSSETTO”

    EXCLUSIVE SCENTS BY PRADA


    SCENT N°14
    ROSSETTO


    Milano, Italy, 14 February 2013 - With the 14th exclusive scent reaching its stores, Prada presents the web application dedicated to “Rossetto”.


    A digital project born from the collaboration with Michael Rock and New York's studio 2x4. A platform that will allow users to create their own moodboard starting from the suggestion of different backdrops where iconography and graphics with different references are applied. All in line with the user's creativity and taste and - of course - signed off with the graphics of the new Prada fragrance, red lips.

    The artwork that will be put together by users on the www.prada.com/rossetto platform will be sharable on all the main social networks; Prada itself may publish the best works on its website or social media platforms.

     

    EXCLUSIVE SCENTS BY PRADA
    LANCIATI NEL 2003

    SCENT N°14
    ROSSETTO

     

    TRUE CRAFTSMANSHIP. UNCOMPROMISED QUALITY. MODERN SENSIBILITY.

    INNOVATIVE FROM ITS OUTSET, THE PRADA EXCLUSIVE SCENTS COLLECTION IS AN EVER-EVOLVING NARRATIVE. A THOUGHT PROVOKING, CONTEMPORARY OLFACTORY PROPOSITION, WHICH IN PART CONSIDERS THE PAST, BUT IS RESOLUTELY MODERN.
    THE DISTINCTIVE COLLECTION, CREATED BY AND FOR MIUCCIA PRADA WITH PERFUMER DANIELA ANDRIER, QUIETLY YET CONFIDENTLY, LAUNCHED IN 2003 WITH AN UNCOMPROMISING FOCUS ON THE ABSOLUTE BEST, PUREST AND CONTEMPORARY INGREDIENTS IN THE MOST INNOVATIVE OF CONSTRUCTIONS. THESE ARE ESPECIALLY RARE, PIONEERING FRAGRANCES THAT DO NOT CONFORM TO TYPICAL PYRAMID STRUCTURES OR CONSTRAINTS OF MASS APPEAL. EACH CREATION, A PARFUM – THE ESSENCE OF A FRAGRANCE AT ITS HIGHEST CONCENTRATION, IS ABOUT ARTISTRY AND TRUTH THROUGH INNOVATION. WITH EACH SCENT, THE DECONSTRUCTION OF PERFUMERY CONVENTIONS AND OUR RELATED NOTIONS OF BEAUTY CONTINUES.
    THIS COMPELLING BODY OF WORK BEGAN WITH FOUR EXPRESSIVE FRAGRANCES: N°1 IRIS (IRIS), N°2 OEILLET (CARNATION), N°3 CUIR AMBRE (AMBER LEATHER) AND N°4 FLEUR D’ORANGER (ORANGE BLOSSOM). THREE NEW ADDITIONS: N°12 NARCISO (NARCISSUS), N°6 TUBEREUSE (TUBEROSE), AND N°7 VIOLETTE (VIOLET) WERE INTRODUCED IN 2006 THUS FURTHER SETTING A NOTED PRECEDENT IN PERFUMERY.A SUBSEQUENT CHAPTER INCLUDING N°8 OPOPONAX, N°9 BENJOIN (BENZOIN) AND N°10 MYRRHE (MYRRH) SOON FOLLOWED IN 2007. ALL THE WHILE, ADHERING TO THE PREMISE THAT THE PRADA EXCLUSIVE SCENT COLLECTION IS A ‘WORK IN PROGRESS’, WHICH ENCOURAGES EXPERIMENTATION AND PERSONALIZATION, LEFT OPEN TO INTERPRETATION. N°11 CUIR STYRAX JOINED IN 2011 AND IN 2012, PRADA EXCLUSIVE SCENTS INTRODUCES PERHAPS THE MOST INTRIGUING, INNOVATIVE AND CONTEMPORARY YET, N°14 ROSSETTO INTO ITS CAREFULLY CURATED ARCHIVE.
    N°14 ROSSETTO IS PERTINENTLY FOUNDED ON THE MOST FEMININE DEVICE THAT IS LIPSTICK. IT IS A FRAGRANCE INFORMED BY LAYERS OF REFERENCE BUT CONSIDERED IN A MODERN CONTEXT. AND WHILST N°14 ROSSETTO MIGHT BE EVOCATIVE OF A BYGONE ERA, WITH ITS CLASSIC INCLUSION OF VIOLET AND ROSE, IT IS ITS SYNTHETIC ACCORDS, PROUDLY FEATURING FOR THE FIRST TIME IN THE EXCLUSIVE SCENTS COLLECTION, OF RASPBERRY AND LIPSTICK THAT INGENIOUSLY GIVE THIS PERFUME ITS MODERN SENSIBILITY.

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  • 2013-02-11 “THE DOOR”, NEW SHORT FILM BY AVA DUVERNAY IS NOW ON MIUMIU.COM

    #5

    THE DOOR

    DIRECTED BY AVA DUVERNAY

    The Door, a new short film by Ava DuVernay, is a celebration of the transformative power offeminine bonds, and a symbolic story of life change.

    It is the fifth in Miu Miu’s series of short films by distinctive international female directors,following The Powder Room, by Zoe Cassavetes; Muta, by Lucrecia Martel; The WomanDress, by Giada Colagrande and It’s Getting Late, by Massy Tadjedin. This highly creative filmplatform places a female point of view at the heart of the cinematic journey, using fashion toexplore political ideas as well as creative storytelling.

    «Every time a woman makes a film it is a political act, in my view, whether we mean it to be ornot» states DuVernay. «Films by women - whether comedy or drama, documentary or narrative- illustrate the human experience through a woman’s voice, through a woman’s eyes, through awoman’s creativity. Experiences which are often marginalized, fabricated or simply ignored. Ithink what Miu Miu is doing with this film series is wonderfully radical.»

    The symbolic centre of The Door is the front entrance of the protagonist’s home. As sheopens it to greet a friend in the powerfully framed opening scenes, she is shrouded inan oblique sadness. “In the film, characters arrive at the door of a friend in need, bringingsomething of themselves,” explains DuVernay. “Eventually, we witness our heroine ready towalk through the door on her own. The door in the film represents a pathway to who we are.

    ”Clothing is also a symbol of renewal, each change of costume charting our heroine’semergence from a chrysalis of sadness. In the final scenes, she takes off her ring, pulls onlong, black leather gloves, and walks, transformed by the emotive power of the clothing,through the door. “I felt the Miu Miu collection was infused with both a strength andvulnerability that was very beautiful. I let that idea guide me through the writing and productionprocess,” the director says.

    Ava Marie DuVernay’s films delve into the complex interior lives of women. She was the firstAfrican-American woman to win the Best Director Prize at Sundance Film Festival, for hersecond feature, Middle of Nowhere, in 2012. The Door stars Gabrielle Union, Alfre Woodard,Emayatzy Corinealdi, Adepero Oduye and singer-songwriter Goapele.

    For further information:
    Press Office Miu Miu
    Tel +39 02 3498121
    E-mail: pressoffice@miumiu.com

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  • 2012-12-06 PRADA SPA APPROVES GROUP RESULTS FOR THE FIRST NINE MONTHS OF 2012

     

     

    PRADA SPA APPROVES GROUP RESULTS FOR THE FIRST NINE MONTHS OF 2012

    CONSOLIDATED NET REVENUES of € 2,339.3 million, + 35% EBITDA of € 727.9 million, + 50%
    EBIT of 
    € 612.5 million, +56%
    NET INCOME of 
    € 408.6 million, +50%

    Milan, December 6 2012 – The Prada SpA Board of Directors today examined and approved the Interim Consolidated Report for the nine months ended October 31, 2012 which confirmed the Group’s ability to maintain excellent rates of growth.

    CONSOLIDATED NET REVENUES amount to € 2,339 million, up by 35% (+27% at constant exchange rates) on the € 1,730 million reported for the first nine months of prior year and confirming the trend already seen in the first half of the year.

    EBITDA, representing 31% of consolidated net revenues, reached € 727.9 million with a 50% increase on 2011.

    EBIT amounts to € 612.5 million, 26% of consolidated net revenues and up by 56% on the first nine months of prior year.

    NET INCOME has increased by 50% from € 273.2 million in 2011 to € 408.6 million and represents 17.5% of consolidated net revenues.

    The net financial position is positive and has improved from Euro 14 million at the start of February to Euro 211 million, benefiting from strong cash generation which has also made it possible to finance capex for the period and distribute dividends totaling Euro 131 million to the shareholders. 

    Analysis of revenues

    Distribution channels

    In line with the strategy pursued by the Group for several years now, in the first nine months of 2012, the retail channel again made the greatest contribution towards revenue growth. Sales made by Directly Operated Stores generated revenues of Euro 1,917 million, a 43% increase (+34% at constant exchange rates). Revenue growth has been achieved by both new stores – 63 new stores have opened in the last 12 months – and existing stores which, at constant exchange rates, have continued to register strong growth : +18%, Same Store Sales Growth.

    The wholesale channel generated net revenues of €390 million and a 6% increase on prior year.

    Brands

    All of the Group’s brands performed well, especially Prada which enjoyed 39% growth. Meanwhile, Miu Miu grew by 21%, Church’s by 15% and Car Shoe by 8%.

    Markets

    Double digit growth – also at constant exchange rates – was achieved on all markets including Europe where revenues grew by 33% (+32% at constant exchange rates) thanks to the steady flow of tourists and Asia Pacific where revenues increased by 41% (+28% at constant exchange rates). Highly positive results were also achieved on the American market with revenues up by 28% (+16% at constant exchange rates) and in Japan where revenues grew by 27% (+15% at constant exchange rates).

    Products

    Leather goods grew by 51% and now account for 63% of consolidated sales; meanwhile clothing and footwear both recorded increases of 15%. 

    Strategy and development

    The Group continued with the international expansion of its retail network in the third quarter of the year and has now opened 42 new stores in the first nine months of the year. Some of the most significant new store openings have seen Prada enter the market in Brazil, Mexico, Morocco and Ukraine while Miu Miu has entered the market in Brazil, Mexico, Morocco and Kuwait.

    At October 31, 2012, the retail network comprised a total of 428 Directly Operated Stores, including 270 Prada stores, 108 Miu Miu, 44 Church’s and 6 Car Shoe; 13 more stores have been opened in the five weeks since October 31.

    Patrizio Bertelli, Chief Executive Officer of Prada Spa, commented: “It has been another extremely satisfactory quarter. The Group has continued to grow at a rate that has exceeded our expectations but great care has still been paid to cost control and working capital management. This has enabled us further to improve our profitability and cash flow. The Prada Group has again shown that it has the necessary ability and spirit of initiative to generate positive results, even in the difficult current international economic climate.”

    For further information, please contact:

    Prada spa

    Luca Grassis
    +39 02 55028933 
    luca.grassis@prada.com

    PRADA Group

    The PRADA Group –HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. The Group also operates, under licensing agreements, in the eyewear, fragrances and mobile telephone sectors. Its products are sold in 70 countries worldwide through a network that included 428 directly operated stores (DOS) at October 31, 2012 and a select network of luxury department stores, independent retailers and franchise stores. 

     

     

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  • 2012-09-24 PRADA GROUP APPROVES ITS INTERIM REPORT AT JULY 31, 2012

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  • 2012-08-06 PRELIMINARY SALES FIGURES FIRST HALF OF FINANCIAL YEAR 2012

     
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  • 2012-06-07 PRADA SPA APPROVES GROUP RESULTS FOR FIRST QUARTER OF 2012: REVENUE AND PROFIT GROWTH EXCEED EXPECTATIONS

    PRADA SPA APPROVES GROUP RESULTS FOR FIRST QUARTER OF 2012:
    REVENUE AND PROFIT GROWTH EXCEED EXPECTATIONS

    CONSOLIDATED NET REVENUES of Euro 686.7 million, + 47.9%
    EBITDA of Euro 200.1 million, + 77.2%
    EBIT of Euro 164.8 million, +105.6%
    NET INCOME of Euro 121.7 million, +111%

    RETAIL NETWORK EXPANDS BEYOND 400 DOS

    Milan, 7 June 2012 – The Prada spa Board of Directors today reviewed and approved the consolidated results for the quarter ended April 30, 2012.

    CONSOLIDATED NET REVENUES amounted to Euro 686.7 million, a 47.9% increase (+41.5% at constant exchange rates) on the Euro 464.3 million reported for first quarter 2011.

    EBITDA amounted to Euro 200.1 million, a 77.2% increase on same period of last year, and represented 29.1% of consolidated net revenues.

    EBIT amounted to Euro 164.8 million, a 105.6% increase on first quarter 2011, and represented 24% of consolidated net revenues.

    NET INCOME increased from Euro 57.7 million in first quarter 2011 to Euro 121.7 million in first quarter of this year.

    Cash flow generation enabled the Group to finance its capital expenditure for the period (Euro 55.3 million) and to improve its Net Financial Position which showed net cash of Euro 122.4 million at April 30, 2012.

    Analysis of revenues

    In the quarter ended April 30, 2012, DOS sales amounted to Euro 569.7 million, 49% more than in first quarter 2011 (+41.7% at constant exchange rates). Same Store Sales Growth (SSSG) was also significant in the quarter and stood at 19%.

    The wholesale channel also enjoyed 41.5% growth (+39.4% at constant exchange rates), partially as a result of the delayed deliveries from prior year.

    All Group brands contributed towards these results with Prada and Miu Miu recording particularly high growth rates of +53.2% and +30.8%, respectively.

    Moving on to sales by geographical area, we must highlight the excellent performance in Europe which achieved growth of +55.5% in the quarter, also thanks to the rising number of travelers. Excellent performances were also achieved in the Asia Pacific area which grew by 46.9%, in the Americas which grew by 34.1% and in Japan which enjoyed 38.7% growth.All product categories contributed towards the Group’s net revenue growth.

    Leather goods (+58.2%) now account for more than 62% of consolidated sales while clothing and footwear (+29.7% and +36.3%, respectively) also recorded strong growth.

    The Group has continued its strategy of international expansion of the DOS network: eight new DOS were opened in first quarter 2012 followed by seven more in the following weeks, taking the retail network to a total of 402 DOS.

    Patrizio Bertelli, Chief Executive Officer of Prada Spa, commended: “We are extremely pleased with the results achieved this quarter in terms of sales and profitability, especially as we have achieved them in an uncertain and very unpredictable international environment. We are more certain than ever that we have chosen the correct route to growth based on a balanced geographical presence around the world and on the strength of our brands. We remain confident of our ability to achieve our objectives and shall closely monitor the economic situation in the countries where we operate to ensure that our strategy of medium-term growth is compatible with requirements on the various markets.”

    For further information, please contact:

    Prada spa
    Luca Grassis
    +39 02 55028933
    luca.grassis@prada.com

    PRADA Group
    The PRADA Group –HKSE Code: 1913 – is one of the world leaders in the luxury goods sector where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. The Group also operates, under licensing agreements, in the eyewear, fragrances and mobile telephone sectors. Its products are sold in 70 countries worldwide through a network that included 395 directly operated stores (DOS) at April 30, 2012 and a selected network of luxury department stores, independent retailers and franchise stores.

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  • 2012-05-22 PRADA ANNUAL GENERAL MEETING APPROVES 2011 ANNUAL REPORT AND PAYMENT OF A DIVIDEND OF EURO 0.05 PER SHARE

    PRADA ANNUAL GENERAL MEETING APPROVES 2011 ANNUAL REPORT
    AND PAYMENT OF A DIVIDEND OF EURO 0.05 PER SHARE

    May 22, 2012 – Prada Spa Annual General Meeting, chaired by Miuccia Prada, was held today in Hong Kong.

    The Annual General Meeting approved separate and consolidated financial statements of the Company for the year ended January 31, 2012 as proposed by the Board of Directors on March 29, 2012.

    As already communicated to the market, in fiscal year 2011 the Group reached consolidated revenues of Euro 2,555.6 million, with a 24.9% growth vs. 2010 fiscal year, and a net income of Euro 431.9 million, with a 72.2% growth, accounting for 16.9% of consolidated net revenues.

    The Annual General Meeting approved payment of a dividend of Euro 0.05 per share, amounting to a 29% pay-out on the Group’s net income.

    Furthermore, the Annual General Meeting confirmed the Board members currently in office for the next three years:Miuccia Prada (Chairperson), Patrizio Bertelli, Carlo Mazzi, Donatello Galli, Marco Salomoni, Gaetano Miccichè and Independent directors Gian Franco Oliviero Mattei, Giancarlo Forestieri and Sing Cheong Liu.

    For further information:

    Prada spa
    Luca Grassis
    +39 02 55028933
    luca.grassis@prada.com

    PRADA Group
    The PRADA Group – HKSE Code: 1913 - is amongst the world's leaders in the luxury market, and it operates through its Prada, Miu Miu, Church’s and Car Shoe brands in the production and marketing of high-quality bags, leather goods, footwear, ready-to-wear, and accessories. The Group is also active, through licensing agreements, in eyewear, fragrances and mobile phones. Its products are sold in 70 countries worldwide through 388 directly operated stores (DOSs) as of January 31st, 2012, and a select network of luxury department stores, multi-brand stores and franchisees.

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  • 2012-03-29 THE GROUP APPROVES ITS 2011 ANNUAL REPORT ANOTHER YEAR OF DOUBLE DIGIT GROWTH

    THE GROUP APPROVES ITS 2011 ANNUAL REPORT
    ANOTHER YEAR OF DOUBLE DIGIT GROWTH

    Consolidated net revenues of Euro 2,555.6 million, +24.9%
    EBITDA of Euro 759.3 million, +41.7%
    EBIT of Euro 628.9 million, +50.3%
    Net income of Euro 431.9 million, +72.2%
    A return to a positive net financial position of Euro 15.8 million
    Further retail network expansion with 75 new DOS opened during the year
    388 DOS at January 31, 2012

    March 29, 2012 – The Prada Spa Board of Directors met today at the company premises in Terranuova Bracciolini and approved the separate financial statements of Prada Spa and the consolidated financial statements for the year ended January 31, 2012.

    In 2011, the PRADA Group successfully pursued its strategy of growth on the global luxury goods market. For the second consecutive year, by combining an ongoing search for stylistic quality and innovation, the international expansion of its retail network and constant attention to efficiency, the Group achieved one of the highest growth in the sector and a further, significant improvement in profitability.

    Consolidated net revenues totaled Euro 2,555.6 million, a 24.9% increase (+26.4% at constant exchange rates) on the Euro 2,046.7 million reported in 2010.

    EBITDA amounted to Euro 759.3 million, a 41.7% increase on 2010, and represented 29.7% of net revenues.EBIT amounted to Euro 628.9 million, a 50.3% increase on prior year, and represented 24.6% of net revenues.

    Net income increased by 72.2% from Euro 250.8 million in 2010 to Euro 431.9 million this year and represented 16.9% of consolidated net revenues.

    Cash flows from the share capital increase from the IPO and, above all, the high level of operating cash flow enabled the Group to finance its capital investment during the year and achieve a positive net financial position of Euro 15.8 million at January 31, 2012.

    Earnings per share rose from Euro 0.10 to Euro 0.17 per share.

    The Board proposes payment of a dividend of Euro 0.05 per share. This proposal will be subject for approval to the Annual General Meeting to be convened on May 22, 2012 in Hong Kong.

    Analysis of Revenues

    Distribution Channels

    In line with Group strategy, sales growth has been driven by the retail channel where a 37.6% increase on 2010 (+39.2% at constant exchange rates) was achieved thanks to newly opened DOS and like for like growth.

    Like-for-like growth of 23% was recorded in 2011, in excess of +20% for the second consecutive year.

    The retail channel now contributes 77.9% of the Group’s net revenues, a significant increase on the 70.8% contributed in prior year.

    Coherently with the selective strategy now followed by the Group for some years, the wholesale channel contracted by 5.2% while contributing 22.1% of consolidated net revenues.

    Markets

    All regions performed well with an increasingly important role played by the Asia Pacific market which was once again the leading market, both in absolute terms and for growth: it generated net revenues of Euro 873 million (+42.2% compared to 2010 and +45.1% at constant exchange rates) while its contribution towards consolidated net revenues rose from 30.4% to 34.6%. Net sales in the Asia Pacific area were almost entirely generated by the retail network which included 115 DOS at January 31, 2012. 8 of the 18 new DOS opened by the Group in the Asia Pacific area are located in China.

    The other markets also enjoyed strong rates of growth: Europe +16.8%, the United States +20.2% (+26.1% at constant exchange rates) and Japan which confirmed itself a solid market with 16.2% growth (+ 11.9% at constant exchange rates).

    Brands and products

    Growth was driven mainly by Prada and Miu Miu which both enjoyed growth of around 25%.

    All product categories contributed towards the Group’s net revenue growth. Leather goods (+40.7%) now account for more than 56% of consolidated sales while clothing and footwear (+6% and +11.3%, respectively) confirm the Group’s ability to lead the way in all soft luxury goods categories.

    Strategy

    During the year, the Group continued to expand its network of Directly Operated Stores (DOS), increasing its presence both in high growth markets for the luxury goods industry and in more mature markets not yet fully covered by the retail network.

    The Group opened 75 new DOS in 2011 and refurbished and extended existing stores. The new stores were opened across 17 different countries, including Russia and the United Arab Emirates where the Group did not have a direct presence. At January 31, 2012, the retail network included a total of 388 DOS.

    Prada’s remains committed to art in its various forms of expression, as a means of interacting with society as a whole, and this is reflected in the identity of the Group brands. The agreement with the Conseil Economique, Social et Environnemental, allowing the Palais d’Iéna in Paris to host Miu Miu fashion shows, is in keeping with this spirit as was the “24 hour Museum” event held there with Francesco Vezzoli.

    The Group has also confirmed its strong relationship with Fondazione Prada which inaugurated Ca’ Corner della Regina, an historic building on the Grand Canal in Venice, as its new exhibition venue in 2011.

    On a different note but very important in terms of communications and increasing brand awareness, the Group will once again support “Luna Rossa” in its challenge for the 34th edition of the America’s Cup to be held in San Francisco, California in 2013.

    Patrizio Bertelli, Chief Executive Officer of Prada Spa, is extremely satisfied with the results achieved and commented “Our Group enjoyed its best ever year, an important phase that saw the successful listing of Prada Spa shares on the Hong Kong Stock Exchange. In recent years, we have focused on our brands and on developing the retail network, pursuing a strategy that has enabled us to cope well during difficult times for the market while also making the most of the best opportunities available at times of growth. What has been achieved so far with drive and commitment will form the basis for further growth in future. We will aim to consolidate the Group’s position as a leading luxury goods business on all international markets and will continue to draw on innovation, quality and respect for tradition.

    For further information:

    Prada spa
    Luca Grassis
    +39 02 55028933
    luca.grassis@prada.com

    PRADA Group

    The PRADA Group – HKSE Code: 1913 - is amongst the world's leaders in the luxury market, and it operates through its Prada, Miu Miu, Church’s and Car Shoe brands in the production and marketing of high-quality bags, leather goods, footwear, ready-to-wear, and accessories. The Group is also active, through licensing agreements, in eyewear, fragrances and mobile phones. Its products are sold in 70 countries worldwide through 388 directly operated stores (DOSs) as of January 31st, 2012, and a select network of luxury department stores, multi-brand stores and franchisees.

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  • 2011-11-29 3Q FINANCIAL RESULTS

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  • 2011-09-19 THE GROUP APPROVES THE HALF YEARLY FINANCIAL STATEMENT AS OF 31 JULY 2011

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  • 2011-06-23 PRADA S.P.A. PROPOSED IPO SUCCESFULLY PRICED

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  • 2010-09-17 THE BOARD OF DIRECTORS APROVES HY 2010 FINANCIAL RESULTS

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  • 2010-08-04 STRONG GROWTH FOR PRADA IN THE FIRST HALF 2010

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  • 2010-05-24 PRADA GROUP 1Q RESULTS: STRONG REVENUES AND EBITDA GROWTH

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