The continued popularity of the Prada and Miu Miu labels has helped Prada Spa enjoy a 75% increase in sales for the year’s third quarter. The company posted a net profit of €93.6 million, or roughly $125 million US, which is significantly more than the €89.9 million forecasted.
Much of this success has to do with the label’s prestige leather goods. Handbags, wallets, and other leather accessories accounted for more than 56% of Prada Spa’s total sales. Footwear was also up by 14% while ready-to-wear apparel enjoyed a modest increase of 3%.
The Asia Pacific region was the most lucrative for Prada. It doubled its sales in the Greater China region, and enjoyed a 45% boost in the Far East. While other figures weren’t quite as impressive, all geographic areas recorded growth rates in the double digits, including 21% in Europe and 19% in the United States of America.
We’ve seen plenty of designer labels increasing their sales of late, but it’s still impressive to see the way luxury labels are thriving. After all, retail analysts were sure the uncertain economy would hit fashion houses hard. I guess that no matter how tough times get, us girls are still going to indulge in a few little luxuries!
[Image Source: Ca0572/Wikipedia Commons]
