Prada booked a 31 percent increase in sales to €2.045 billion in the fiscal year ended in January, thanks mainly to its booming sales in Asian markets, which went up by 48 percent. Revenues rose by 18 percent in Europe and by 29 percent in the U.S.
Retail sales rose by 44 percent, with a 22 percent increase in comparable store sales. The group ended the financial year with 319 stores. Wholesale revenues were also stronger.
These preliminary data came ahead of the expected flotation later this year of the Italian fashion house on the Hong Kong stock exchange, where Prada hopes to obtain a higher valuation than in Europe. The initial public offering is expected to value Prada at about €6 billion.
The former British colony is proving to be a preferred destination for new stock market listings. There is speculation that the luggage and footwear producer Samsonite could organize an IPO in Hong Kong in the second part of 2010 or early next year. The company, which is owned by the private equity fund CVC, could be valued at about $1 billion.