Retail in Asia

In Sectors

China slowdown means flat still the trend at Prada

Prada’s annual sales were broadly flat for a second consecutive year in 2015 as the slowdown in China continued to weigh on the high fashion and luxury goods brand.

Weak sales in Asia-Pacific outside of Japan and in the United States failed to offset an improved picture in Europe, where the weak euro bolstered sales to bargain-hunting tourists from outside the region.

Total revenue at a group which includes clothes line Miu Miu and upmarket cobbler Church’s totalled EUR3.545 billion, broadly in line with expectations but slightly below a figure of EUR3.552 billion (USD3.93b) registered in 2014. Sales in Asia-Pacific outside Japan were down 4 percent at current exchange rates and 16 percent at constant rates.