Friday, 6 August 2010

Prada Are Sitting More Than Comfortably - 06/08/10

The rumour mill has been in overdrive lately about a possible IPO for Prada. And as the company have released their 29% revenue increase for the first half this week, the whiff of the suspected IPO is back yet again, as they continue to evaluate the most suitable moment to jump to action. Prada experienced a whopping 41% increase in retail sales, which pushed the 29% profit result, bringing in $1.2 billion.

Whilst revenue was the only statistic reported in the statement, we can expect to see greater detail of their currently comfortable position later in September. With 30 new stores planned for this year, set to focus on the Asia-Pacific, Prada’s most dynamic region remains the Far East, where sales rose 70%.

Image credit: prada.com

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Posted by MO at 6:00 am
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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