All Prada Group articles – Page 2
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ArticlePrada full-year profits above pre-pandemic levels
Prada posted a net profit of €294 million in 2021, up from a €54 million loss last year and above a €256 million profit in 2019, before the outbreak of the Covid-19 pandemic. The bottom line also largely exceeded the consensus of analysts’ forecasts set at €253 million. Full-year revenues ...
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News briefs
Church’s has a new CEO
The Prada Group has appointed Denni Manzatto as the CEO of Church’s & Co, the luxury British footwear brand bought by the Italian fashion house in 1999. The appointment is effective from January and Manzatto replaces Anthony Romano, who was with Church’s since 2017. Manzatto has been with the ...
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News briefs
Prada FY sales up 41%
In 2021, Prada posted sales of €3.364 billion, up by 41 percent from 2020 and by 8 percent from 2019 at constant currency rates driven by its retail business. In the second half of 2021, the Italian fashion house enjoyed a sharp improvement in sales, operating margins and cash generation. ...
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ArticleThe Aura blockchain launches a SaaS solution for luxury brands
On Jan. 13, the Aura Blockchain Consortium launched Aura SaaS, a cloud-based software-as-a-service (SaaS) solution for its global blockchain-based platform designed for luxury brands. The consortium is a non-profit association based in Switzerland promoting socially responsible, sustainable and customer-centric business practices throughout the lifecycle of luxury products by leveraging blockchain ...
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News briefs
Prada sees sales rising to €4.5bn in the medium term
The Italian fashion house Prada expects to achieve revenues of about €4,500 million in the medium term with an Ebit margin of around 20 percent, while doubling online’s share of retail revenues to 15 percent of the total. In 2020, Prada posted overall revenues of €2,423 million and retail sales ...
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ArticlePrada requires health pass or Covid testing for Italian staff
Starting Sept. 6, Prada is asking its over 3,000 workers in Italy to submit proof of Covid-19 vaccination or recovery from the virus to access its facilities. As of that date, employees of the luxury group in Milan and the Tuscany region will be asked to show the digital Covid ...
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ArticlePrada returned to pre-Covid profitability in H2
Thanks to cost containment measures and a rebound in sales, Prada returned to pre-Covid-19 profitability levels in the second half of 2020. The recovery, however, was not sufficient to post a net profit for the full year, which was compromised by the decline in activity suffered in the first ...
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News briefsPrada obtains €90m sustainability-linked loan
Prada has signed a €90 million, five-year sustainability-linked loan with the Italian bank UniCredit . The loan is characterized by the application of a bonus mechanism that allows for a reduction in the interest rate with the achievement of quantitative targets in the field of environmental sustainability. Attainment ...
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ArticlePrada’s December retail sales return to 2019 levels
Prada Group ’s retail sales returned to last year’s levels in December and the Italian luxury goods firm is generating operating profits again. The company noted that despite ongoing store closures caused by Covid-19 related lockdowns, which averaged 9 percent of its network during the second half of 2020, ...
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