At the end of the fiscal year (January 31, 2017), net sales of the Prada Group amounted to EUR 3.1 billion, down by 10% compared to 3.5 billion in 2015. Net income, meanwhile, fell by 16% year on year, rising from 331 million to 278 million (-16%). All positive numbers that are reflected in the detail of the product segments, brands and markets. The Leather Goods, worth almost half of the business (1.8 billion), have lost 14% year on year, despite the good response to the latest collections, while the shoe gives 4%. There are excellent brands (Prada and Miu Miu -10% -8%), except Church’s + 6%. Prada sales – where the wholesale channel is 84% – 10% of the total fall, with the collapse in the second half of the year. The only positive note is the success of partnerships with e-commerce partner (Ynap, MyTheresa and Mr Porter). Europe, the primary market, moves back 5%, the Americas 12%, such as the Far East (except Japan, -13%, where the stable currency rejects Chinese tourists) and the Middle East -10%. After all, the best of the giant financial results driven by Bertelli-Prada couple (pictured) involve cutting operating expenses (-10%), applied by the renegotiation of rents up to advertising, excluding digital. Bertelli preaches optimism for 2017 and assumed operations of mergers and acquisitions shortly. Good news for shareholders who see raised dividends by 9% in a year.
Prada: 2016 to forget. Revenues -10%. Leather Goods -14%. Church’s is the only growing
