With Asia Pacific its number one market, the Italian luxury group’s flagship Maison intends to invest in new store concepts in China, and is counting on more events to strengthen its presence.
Prada is going all out for China.
Prada’s CEO, Gianfranco D’Attis, took advantage of an event in Shanghai, the launch of the “Pradasphere II” exhibition, on December 6 to set out his ambitions for this major luxury market.
And it’s not the current slowdown in luxury consumption in the Middle Kingdom that is dampening the spirits of the man who took over the reins of the Italian luxury group’s eponymous flagship Maison at the beginning of 2022. Listed on the Hong Kong stock exchange, the group also owns Miu Miu and Church’s.
“We have great ambitions here in China to double our business in the near and medium term,” Gianfranco D’Attis told the press. He also spoke of increased investment in this market, but not necessarily in the form of a quantitative increase in sales outlets.
He added: “It’s not just the number of stores that’s important to us, but the quality of the stores, bigger stores with more categories, more localized products, more experiences, more hospitality, more events, more special capsules”.
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