Monday, 20 September 2010

Prada Reports Dazzling First-Half Figures 20/9/10

Prada’s first-half figures for this year are pretty incredible. Will this see the brand finally ready to make an official IPO? They will certainly explore their options, since their first-half operating profit has more than doubled since they opened new stores, revenue reaching £103m (143.3m AUD). Excluding their new stores, Prada’s sales rose 22 per cent.

Prada said in June that it was following market trends to “evaluate the most suitable moment” to sell shares in an IPO, hoping to evade their history of unfortunate timing. If they look to list, it will be at least their fourth attempt over the past ten years to do so. Things are looking good this time. Sales grew in all markets, rising 19 percent in Europe, 30 per cent in the US and 40 per cent in the Far East. All countries and regions posted positive growth. This cannot be said for other luxury brands, so now is perhaps as good an opportunity as ever… We will keep you posted.

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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,