MILAN, Italy — Prada SpA's sales in China rose "significantly" more than 10 percent in May, the fashion brand's co-chief executive officer, Patrizio Bertelli, said in a Bloomberg TV interview.

This is still far from being enough for a complete recovery of the luxury sector after the end of coronavirus lockdowns, Bertelli added.

“The European market is heavily dependent on tourism,” he said. “Tourism will pick up again when a vaccine will be developed.”

Bertelli said he is looking forward to demand recovering more consistently worldwide and has no plan to delist the company.

“Our job is focused on brand development, we are not at all thinking about delisting the company” he said. “We are working on new products, on expanding our sale network, on making the most of digital technology.”