Prada's 2021 sales bounce back above pre-pandemic levels
Reuters
Published Jan 18, 2022 12:51
MILAN (Reuters) - Sales at Italian fashion group Prada bounced back sharply in 2021 as pent-up demand for luxury handbags and clothes helped push revenues above pre-pandemic levels, the company said on Tuesday.
In an unscheduled trading update, Prada said group sales last year rose by 41% at constant exchange rates to 3.364 billion euros ($3.83 billion), and stood 8% above 2019 levels.
The figure was above an estimate of 3.28 billion euros in an analyst consensus cited by UBS and indicates a revamp strategy, which aims to move Prada upmarket and increase the share of online sales, is paying off.
($1 = 0.8782 euros)
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Written By: Reuters
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