Wednesday, 10 February 2010
Prada has joined the ranks of the upbeat luxury brands as they told Reuters that they had a better-than-expected operating profit in the last financial year, which ended in January.
The result was due to “a rise of more than 14 percent in retail network sales,” a Prada spokesperson said.
This is extremely positive news for Prada, especially given they are still a private company without the backing of luxury giants like Richemont and LVMH. Although, we must point out that rumours do still persist of a Prada-Richemont alliance… (see the MO Down for 7 January for details).
Who's behind the MO DOWN
Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au