The Prada Group’s board of directors has approved the consolidated financial results for the year ending 31 January 2017. Net revenues for the period totalled € 3,184.1 million, with the retail channel accounting for € 2,634.9 million, with steadily improving trends during the second half of the year, and especially the final months. The wholesale channel, meanwhile, achieved revenues of € 504.4 million, a significant increase on 2015 thanks to encouraging results from new partnerships with leading e tailers. Licensed business, covering eyewear, fragrances and royalties, totalled € 45 million.
The board of directors underlined how the action plan devised to overcome the challenges of a constantly evolving market is already translating into better sales trends and more stable margins.
It should also be noted that the Group’s retail strategy shifted from geographical expansion to network rationalisation and digital integration during the last financial year, creating new store concepts to enhance the shopping experience, with positive results.
To integrate its retail and online channels, the Group will continue to dedicate significant resources to developing an omni-channel offer by expanding its digital platforms, collaborating with e-tailers and promoting in-store digital integration. With this aim in mind, a new team has been assembled to inject further innovation into the Group’s digital strategy.
Finance: Prada Group’s 2016 results
