Following three years of decline, Prada has experienced a growth in sales during the first six months of 2018, Business of Fashion reports. A 9.7 percent uptick in retail sales has resulted in a revenue of $1.8 billion USD.
BoF points out that Prada is finally joining a China-led luxury rebound, also experienced by competitors LVMH and Kering SA, with theirs beginning in 2017.
Prada disclosed that its new sneakers haver performed particularly well in the first half of 2018, while leather goods are now back on the right track. Sales have also been bolstered by 36 new pop-up shops, as well as e-commerce partnerships with the likes of Yoox Net-A-Porter Group SpA and Farfetch.
The Italian fashion house expects sales to continue to increase during the remainder of the year, specifically surrounding the relaunch of its Linea Rossa sportswear line.
For more on Prada’s return to growth, visit Business of Fashion.
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- Source: Business of Fashion