Mainland Chinese tourists help push up sales at Prada
In a filing to the Hong Kong exchange on Tuesday, the luxury leather goods maker reported a 23 per cent increase in sales last year at constant exchange rates. Sales in Europe excluding Italy were up 33 per cent at constant exchange rates, while sales in the Asia-Pacific rose 23 per cent. Growth in Italy was 19 per cent, in North America 15 per cent and in Japan 8 per cent.
The Italian fashion house Prada saw sales in Europe outside its home market leap by a third in the year to January, surpassing even the fast-growing Asia-Pacific region, with one analyst crediting mainland tourists for the rise.
In a filing to the Hong Kong exchange on Tuesday, the luxury leather goods maker reported a 23 per cent increase in sales last year at constant exchange rates.
Sales in Europe excluding Italy were up 33 per cent at constant exchange rates, while sales in the Asia-Pacific rose 23 per cent. Growth in Italy was 19 per cent, in North America 15 per cent and in Japan 8 per cent.
Phoebe Wong, an analyst with Bocom International, said at least half of the European sales came from mainland shoppers.
"The core European market continued to be the fastest-growing market, thanks to the strong tourist flow, particularly from Chinese tourists, whom we expect to have accounted for over 50 per cent of sales," Wong wrote in a report. "This is followed by the Asia-Pacific, particularly the greater China market, on better consumption support and stronger network expansion."
The core European market continued to be the fastest-growing market, thanks to the strong tourist flow, particularly from Chinese tourists