Prada strengthen position in Fashion Industry

Prada has released impressive sales figures for the last year.

The Italian fashion brand has seen net profits grow by a staggering 63% to £52 million with sales rising to 8.2 % to £1 billion.

Prada chief executive officer Patrizio Bertelli (and husband to Miuccia), told WWD.

“The investments in retail we are making in 2007 will allow a further acceleration of our businesses on the most important fast-growing markets.”

“We can be confident as we look forward, also with a view to a potential initial public offering in the near future.”

The brand stated that Diffusion line Miu Miu also added a hefty weight to the figures, with sales rising more than 22 per cent.

Bertelli added:” The company’s performance is on target in terms of both revenues and profitability. Our brands are strengthening their trendsetting positions in fashion and luxury all over the world.”

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