All Prada Group articles – Page 2
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ArticlePrada’s footwear business outperformed in 2022
In 2022, the Prada group’s footwear business outperformed the other main product categories by increasing retail sales by 29 percent at constant currency rates to €691 million, driven by both formal and lifestyle products. Meanwhile, ready-to-wear jumped by 27 percent to €1,086 million and leather goods grew by 18 percent ...
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ArticleGolden Goose ranks among the fastest growing luxury goods brands
Golden Goose, the Italian producer of luxury sneakers, ranked third among the 20 fastest growing luxury goods companies over the past three years, according to Deloitte’s report Global Powers of Luxury Goods 2022. In the 2021 fiscal year, Golden Goose’s estimated revenues were $456 million, up by 45.0 percent from ...
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News briefs
The Prada brand appoints a new CEO
Gianfranco D’Attis was appointed chief executive of the Prada brand, effective Jan. 2. D’Attis is president for the Americas at Christian Dior. Prada previously said that Andrea Guerra would be the new chief executive of the group. The appointment will be made at board meeting scheduled on Jan. 26.
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News briefs
Prada confirms Andrea Guerra’s appointment as CEO
Prada said that it will appoint Andrea Guerra as its next chief executive officer, replacing the current co-CEOs, the designer Miuccia Prada Bianchi and her husband Patrizio Bertelli, confirming reports in the Italian media. The board of the Italian fashion house scheduled on Jan. 26 will recommend Guerra for the ...
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News briefs
Prada hires Andrea Guerra as CEO
Prada has decided to hire Andrea Guerra as its CEO, effective from mid-January, according to the Italian media. The decision was made by Patrizio Bertelli, the 76-year old CEO of the Italian fashion house, his wife, the designer Miuccia Prada, 73, and their 34-year old son Lorenzo. Guerra, ...
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ArticleStocks of Brazilian footwear manufacturers outperform in Q3
In the third quarter of 2022, the stock prices of footwear companies and associated sectors monitored by Shoe Intelligence were on average virtually unchanged, falling by less than 3 percent when compared with the previous three months. But, the figure conceals noticeable disparities between the panel’s subsegments. The cohort of ...
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News briefs
Footwear was Prada’s fastest growing category in H1
Footwear was the fastest growing category for the Prada Group in the first half of 2022, rising by 39 percent year-over-year at constant currency rates to represent €320 million in retail sales. Meanwhile, ready-to-wear was up by 31 percent to €461 million and leather goods increased by 18 percent to ...
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News briefs
Prada names Roberto Massardi as chief business development officer
Prada appointed Roberto Massardi as chief business development officer in May. He is responsible for the strategic development of the group through the pursuit of new business opportunities. At the start of his career, Massardi held different positions at Italian tyre manufacturer Pirelli before joining a first time Prada in ...
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ArticleBrazilian, Indian footwear stocks outperform in a weak environment
In the first quarter of 2022, the share prices of footwear companies fell sharply, tracking global equity markets lower. But, the Indian and Brazilian companies that we monitor for our stock performance survey outperformed their peers over the period.
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News briefs
Prada names a new CFO
Prada has appointed Andrea Bonini as chief financial officer replacing Alessandra Cozzani from May 2. Bonini will report to the chief executive officers Miuccia Prada and Patrizio Bertelli, and will be responsible of the group’s administration, finance, control, tax and investor relations departments. Cozzani held the job since 2016. She ...
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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 half ...
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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 of those targets ...
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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, it has ...
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