Our generation needs an ENTREPRENEURIAL REVOLUTION.
The world economic situation, they say is bad on account of US debt limit, downgrade of Italian debt, and the Greece problem. This report on Prada sales and its increase in income is surprising.
Why do you think Prada sales increased? What are the opportunities?
Here is a reprint of article from BBC News:
Prada has been opening new stores around the world with a focus on Asia pacific
Prada, which had an initial public offering in Hong Kong in June, plans to open 80 new stores this year.
The Asian market, and especially China have become increasingly important to luxury goods companies.
Luxury boom Of the 80 new stores Prada plans to open this year, 25 will be in the Asia Pacific region, according to the company.
"We are continuing exactly what we planned in terms of investments, particularly new openings of shops," said Prada's deputy chairman Carlo Mazzi.
Prada's sales in Asia rose 35% to 368m euros and total revenue increased by 21%, the company said.
Greater China made the largest contribution to that climb.
The world economic situation, they say is bad on account of US debt limit, downgrade of Italian debt, and the Greece problem. This report on Prada sales and its increase in income is surprising.
Why do you think Prada sales increased? What are the opportunities?
Here is a reprint of article from BBC News:
Prada half-year profits soar on growing Asian demand
Prada has been opening new stores around the world with a focus on Asia pacific Profits at Italian luxury goods brand Prada have jumped 74% on surging demand for its products in Asia.
The company posted a net profit of 180m euros ($245.5m; £157m) in the six months to July. That compares to 103m euros a year ago.Prada, which had an initial public offering in Hong Kong in June, plans to open 80 new stores this year.
The Asian market, and especially China have become increasingly important to luxury goods companies.
Luxury boom Of the 80 new stores Prada plans to open this year, 25 will be in the Asia Pacific region, according to the company.
"We are continuing exactly what we planned in terms of investments, particularly new openings of shops," said Prada's deputy chairman Carlo Mazzi.
Prada's sales in Asia rose 35% to 368m euros and total revenue increased by 21%, the company said.
Greater China made the largest contribution to that climb.
Asia is a washed with money. In my recent trip to New York and LA, you can't believe how many Asians are in the Louis Vuitton, Chanel, Prada, etc. stores. With the US dollar at all time low, Asian currencies purchasing power increased and it became relatively cheaper to buy imported products. Couple it with the lure to be fashionable (thanks to Hollywood and Sex and the City) you will not doubt see the increase in sales of signature items.
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