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Prada reports strong results in 2021, driven by retail sales

Prada reports strong results in 2021, driven by retail sales

Prada Group is reporting a very good second half of the year in 2021, thanks in part to higher retail sales.

 

The Prada Group has just announced its results for the second half of 2021 : total net revenues were €3,366 million, up 41% compared to 2020 and up 8% compared to 2019. Retail sales were up 40% compared to 2020 and 15% compared to 2019 and achieved revenues of €2,931 million in the period, an excellent performance driven by full-price sales and local consumption. The trend accelerated further in the second half of the year, with Q4 at +24% compared to 2019.

 

For their part, online sales were exceptional : 5 times higher compared to FY 2019 and +61% compared to FY 2020. This channel now represents 7% of retail sales.

 

Sales in Europe were €749 million, up 35% versus 2020 and down 11% versus 2019. Asia-Pacific sales were €1,192 million, up 29% from 2020 and up 30% from 2019. Demand was strong in key markets throughout the period. Some Asian regions are significantly increasing their numbers compared to 2019 : China +56%, Korea +90%, and Taiwan +61%.

 

Sales in the Americas also saw a strong increase throughout the year and reached 572 million euros, +103% compared to 2020 and +69% compared to 2019.

 

Patrizio Bertelli, CEO of the Prada Group, commented, “The start of 2022 for the Prada Group has been solid. Our long-term strategy is on track, focused on a distinctive brand identity, product quality and industrial know-how, direct distribution and sustainability at the core of our values. Decisive actions to evolve the business and navigate the changing luxury market have enabled exceptional growth and increased profitability in 2021.”

 

See Also

 

 

Read also > PRADA, LUXURY HOUSE WITH THE MOST LEED CERTIFICATIONS

 

 

Featured photo : © Prada

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