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Article: HANDBAGS, COST-CUTTING DRIVE PRADA SPA PROFITS TO FIVEFOLD GAIN IN 2005.
- Article from:
- WWD
- Article date:
- August 2, 2006
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Copyright informationCOPYRIGHT 2006 Fairchild Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Luisa Zargani
MILAN - Prada SpA said Tuesday that growth across the board, in all its brands in all markets, coupled with cost-cutting helped propel the luxury group to a fivefold increase in net profits in 2005 on a 10 percent rise in sales.
Net profits rose to 47 million euros, or $58.5 million, on sales of 1.33 billion euros, or $1.66 billion. This compares with net profits of 9 million euros, or $11.2 million, the previous year. Prada did not give an exact sales number for its SpA company in 2004.
Prada SpA includes the Prada, Miu Miu, Car Shoe and Azzedine Alaa labels. The 2005 figures do not take into account the Helmut Lang and Jil Sander brands' ...
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