Prada to open 80 more stores worldwide in next 12 months

Luxury brand retailers will benefit from increased spending by Chinese tourists travelling outside the mainland. Photo: Nora Tam

While it expects growth in the mainland luxury market to slow down, Italian fashion giant Prada plans to press ahead with its strategy of opening more stores around the world, even though analysts warn that could hurt profitability.

Wednesday, 15 January, 2014, 4:42pm

Texan Prada 'shop' is art but it's also illegal

The stucco and adobe Prada Marfa, complete with bottomless handbags and right-shoe only displays. Photo: AP

Texas state officials say the shack-sized building along a rural highway near the tiny town of Marfa - population 2,000 - is an illegal roadside advertisement, and they're considering what to do about a structure that's a must-see for passing tourists and a must-hit for vandals.

25 Sep 2013 - 4:24am

'That’s our school uniform!' Prada branded 'copycat' by Shenzhen students

A Prada shirt (left) and a Shenzhen school uniform (right ) are found to look identical. Photo: screenshot via Weibo

Prada, a constant victim of plagiarism in China, has in an ironic turn of events been called a “copycat” by some sharp-eyed Chinese bloggers.

In viral photos on Weibo, avid shoppers compare one of Prada’s new summer items, a men’s polo shirt, with the top of a Shenzhen school uniform.

The resemblances are considerable, many argue.

14 Jun 2013 - 7:23pm 9 comments

Prada says won’t give up on lagging secondary brands

Prada’s flagship brand grew almost 20 per cent in the first quarter, but smaller names such as Miu Miu and Church’s have lagged. Photo: Reuters

Italy’s Prada sees growth potential in its smaller brands, which continued to lag the performance of its eponymous fashion label in the first quarter, the company said.

Net sales for its flagship Prada brand grew 18 per cent from the same quarter of last year to 638.8 million euros (HK$6.6 billion), mainly supported by retail income in Greater China and the Americas.

12 Jun 2013 - 11:18am

Transaction taxes are never convenient

Local investors will have to pay 0.22 per cent of the transaction to the Italian taxman when they trade Prada shares. Photo: Bloomberg

Death and taxes and childbirth. There's never a convenient time for any of them" American author Margaret Mitchell wrote in Gone with the Wind. Many local brokers and investors feel the same about Italy's new financial transaction tax, effective from March 1, that will affect investors who trade shares in Hong Kong-listed fashion brand Prada.

9 Apr 2013 - 6:34am

Prada bullish despite consumer slowdown fears

Prada's sales of luxury goods continued to enjoy healthy growth in the Asia-Pacific region last year, where revenues increased by 32.9 per cent to €1.16 billion. Photo: Bloomberg

Prada remains confident about its prospects this year, despite fears of poor consumer demand in Asia because of the weakening yen and Beijing's clampdown on lavish gift-giving.

6 Apr 2013 - 4:46am

Transaction tax confusion vexes local stockbrokers

Hong Kong trade in Prada stock attracts a 0.22 per cent charge

It may be a long way from Rome, but the Italian taxman is making his unwelcome presence felt on the local bourse, where one of the country's most famous fashion houses trades. Hong Kong Exchanges and Clearing has been urged to collect Italy's new financial transaction tax from investors in locally listed fashion brand Prada to end confusion in the market about who should collect it, according to Legco member Christopher Cheung Wah-fung.

4 Apr 2013 - 3:58am

Tax puts wrinkle in Prada shares

Italian government taxes have again become an issue for Hong Kong investors in listed companies like Prada. Photo: Bloomberg

Shares in Hong Kong-listed fashion house Prada fell 3.4 per cent to close at HK$76 on Friday amid concerns that investors trading the stock might have to pay a new Italian government tax from next month.

23 Feb 2013 - 4:52am

Get The Look: Florals

Mix two of the season's hottest trends - florals and plastic - with this futuristic, feminine PVC bag decorated with floral crystal embellishments (HK$7,990) by Shourouk from Harvey Nichols.

22 Feb 2013 - 3:21pm

Mainland Chinese tourists help push up sales at Prada

Prada added 78 stores to its retail network last year, helping drive group revenue. Photo: Bloomberg

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.

20 Feb 2013 - 3:35am

Business Digest, December 8, 2012

HKMA sells HK$3.875b to weaken HK dollar

8 Dec 2012 - 3:49am

Prada powers on with healthy profit

Prada achieved robust growth in net profit. Photo: Reuters

Italian fashion house Prada achieved robust growth of nearly 50 per cent in net profit for the nine months to October on strong demand from Asia.

7 Dec 2012 - 3:23am

Sacked manager who says Prada called her ugly loses lawsuit

Former Prada manager Rina Bovrisse (left). Photo: Dickson Lee

A Japanese court has dismissed a sexual harassment and unfair dismissal suit against fashion house Prada after management told a woman employee to lose weight and keep in shape.

Rina Bovrisse, 38, who claimed a Prada human resources manager had branded her "ugly", said the ruling by a woman judge at Tokyo District Court was unacceptable and that she would appeal the case.

28 Oct 2012 - 2:32am

Asia-Pacific sales put Prada in fine shape

Prada says net income was up about 60 per cent in the six months to July. Photo: Bloomberg

Italian luxury fashion house Prada, which posted strong first-half earnings growth of nearly 60 per cent, is confident in the market in the near term despite the sluggish global economy.

Prada said in a filing yesterday its net income for the six months to July jumped 59.5 per cent from a year earlier to €286.4 million (HK$2.86 billion). Net revenue was €1.55 billion, up 36 per cent.

25 Sep 2012 - 4:30am

Strong sales lift Prada to record high

Hong Kong-listed shares in Italian luxury fashion label Prada climbed to a record high yesterday as it outperformed other players in the market with strong first-half results.

Prada rose nearly 8 per cent yesterday afternoon before closing at a record HK$57.25, up 6.7 per cent, as analysts hailed it the top stock to buy in the consumer sector.

15 Aug 2012 - 11:11pm