Prada Share Prices Surge by 20 Percent
Based on strong growth predictions.
After a rocky couple of years, Italian luxury house Prada has posted better-than-expected sales results. The Kering-owned company saw core profits fall by 7.3% in 2017, but has revealed that it has stopped the slide in sales and expects growth to continue throughout this year.
The improved figures have been attributed to the label’s new products, estimated to make up around 60% of its offerings, and strong demand from Chinese customers. In turn, the growth forecast has led to share prices surging to $40 HKD — the highest level since June 2015 — and adding $2 billion USD to the company’s valuation. Prada is set to continue to capitalize on these green shoots, with a new residency in Shanghai and improvements to its online retail platform.
For more from Prada, take a look at our recent editorial focusing on the brand.
