--FILE--Pedestrians walk past a boutique of Prada in Hong Kong, China, 23 August 2014. Italian fashion group Prada SpA, which has been struggling
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Imaginechina Limited / Alamy Stock PhotoImage ID:
W8WA4FFile size:
17.2 MB (952.9 KB Compressed download)Releases:
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3000 x 2000 px | 25.4 x 16.9 cm | 10 x 6.7 inches | 300dpiDate taken:
23 August 2014Photographer:
ImaginechinaMore information:
--FILE--Pedestrians walk past a boutique of Prada in Hong Kong, China, 23 August 2014. Italian fashion group Prada SpA, which has been struggling with a sharp slowdown in demand for its accessories, saw sales inch up slightly in the first half, but profits fell, as growth in the Americas and the Middle East offset a decline in its leather goods sales and overall weakness in Europe. Prada's consolidated net revenue rose 1.3% to €1.75 billion ($2.25 billion) in the six months ended July 31. However, the Milan-based house posted an operating profit of €493 million, down from the €551 million it reported for the corresponding period last year. Net profit for the six months was €245 million, down 21% on the year. Like its main rivals, Gucci and Louis Vuitton, Prada has seen growth drop sharply over the last year, as shoppers turn away from the logo-heavy brands that have expanded aggressively over the last decades. A protracted economic crisis in Europe and a rapid cooling of once hot growth in China have exposed the difficulties these brands have had in attracting fashionistas who are turning to smaller, more understated brands such as Bottega Veneta and Celine.