The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.
HONG KONG, China — Prada shares fell more than 8 percent on Thursday morning after the Italian luxury fashion group reported full-year earnings that missed analyst estimates and forecast sales to rise by single-digit percentages this year.
MILAN, Italy — Prada SpA, the Italian maker of $2,950 leather handbags, said profit stagnated last year as the strength of the euro and softening demand in Europe and Asia weighed on revenue growth.
This season, a wide diversity of fashion films provided evidence that the genre has matured.
MILAN, Italy — Prada SpA, an Italian maker of $2,950 leather handbags, said Miuccia Prada Bianchi will step down as the fashion company’s chairman and join her husband Patrizio Bertelli as co-chief executive officer.
HONG KONG, China — Italian fashion house Prada SpA said on Wednesday that sales grew just 9 percent in the year ended January 31, hurt by economic weakness in Europe and a stronger euro.
Lack of clarity over the luxury sector’s performance in 2013 and prospects for 2014 caused a dip in the first half of January, reports Pierre Mallevays of Savigny Partners.