Prada’s APAC market sees ‘strong’ rebound in Q1

Retail sales were up by 22% during the quarter.

Prada S.p.A reported a “strong” rebound in its Asia Pacific market with retail sales climbing by 22% to €360m in the first quarter.

“China returned to growth with a further yoy acceleration towards the end of the quarter supported by easier comparables. The business continued to experience solid growth in Southeast Asia as well,” the report read.

Retail sales in Europe were also up by 28% to €259m, followed by the Americas, Japan, and the Middle East with sales worth €174m (5%), €113m (44%), and €47m (15%), respectively.

Overall the company’s retail sales went up by 23% to €953m, driven by like-for-like and full-price sales.

“We closed a first quarter of solid growth, across all product categories and geographies, and we continued to consolidate our brands’ desirability. The global context we operate in continues to be complex and ever-changing, but our strategic priorities are clear, our organisation stronger, and the Group remains reactive,” Patrizio Bertelli, Prada Group Chairman and Executive Director, said.

“We look at the future with confidence, determined to continue our path of stable and sustainable growth.”

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