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The global fashion business journal

Oct 19, 20196:51am

Prada grows 2.2% and rises benefit 56% in H1

The Italian luxury group finished H1 with a net benefit of 155 million euros (172.5 million dollars) compared to the 99 million euros (119 million dollars) of 2017, due to Patent Box tax relief.

Aug 1, 2019 — 4:42pm
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Prada grows 2.2% and rises benefit 56% in H1

 

 

Prada closes the six months ended June 30 on the rise. The Italian luxury group closed the first half with a net benefit of 155 million euros (172.5 million dollars), 56.5% more than the same period last year. The increase was due to the Patent Box tax relief.

 

Sales for the group also grew during this period, with a rise of 2.2%, up to 1.6 billion euros (1.7 billion dollars). Prada’s ebitda has closed Q2 on the low, with a drop of 1.9%, up to 491 million euros (546.4 million dollars).

 

By distribution channels, wholesale has boosted the group’s sales, where it grew 14.4% in the period. Sales through owned stores, stuck, with a drop of 0.4%.

 

 

 

 

By regions, Prada boosted its sales in Europe with a rise of 6.2% and in America 5.8%. In Asia, on the other hand, sales grew 5.8% in Japan and dropped 2% in China.

 

By product line, apparel was the line with the best performance, with a rise of 7.6%. Leather goods and footwear slowed their speed, with rises of 1% and 0.3% respectively.

 

By brands, Prada’s revenue has increased 3.7% between January and June, up to 1.3 billion euros (1.4 billion dollars), while Miu Miu dropped its revenue, up to 221 million euros (246 million dollars). 

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