While some retailers might still be hurting due to the poor economy, Prada has seen a jump in profits.
In fact, both Prada and Miu Miu helped Prada SpA earn a 74.2% jump in net profits as of July.
This year’s profits were at $256.7 million, while last year around the same time, profits were at $131.8 million.
Patrizio Bertelli, the company’s CEO, reveals:
"I am particularly satisfied with the results obtained in these six months, that confirm our expectations based on the Group's expansion strategy, which was presented to the investors during the road show leading to the IPO on the Hong Kong Stock Exchange.”