Prada, the Italian luxury goods group, said it plans to ramp up expansion of its retail stores over the next two years as it reported a 72 per cent rise in profits in 2011, on surging sales of its handbags and shoes to Asian shoppers.
The better than expected full-year figures from Prada underlined the resilience of most global luxury goods groups in the face of consumer woes in the eurozone, helped by strong demand from China and the Far East.
Revenues at Prada, which also includes the brands Miu Miu, Church’s and Car Shoe, rose to €2.6bn last year, up 25 per cent compared with the previous 12 months. Net profit came in at €432m.
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