Chinese unknown tackles Prada: a loss of 800 million in one session. Ferragamo does not sell and sees a positive future

The slowdown in Chinese consumptions is breaking down Prada shares in Hong Kong, while Ferragamo‘s listing is supported by the good prospects for 2019 expressed by its president. Let’s start with the story of the brand managed by Miuccia Prada and Patrizio Bertelli. Yesterday Prada shares fell by 11%, closing at the lowest level since 2016 and burning around 800 million euros on the stock market. To penalize the title the fact that Prada, fresh from a 2018 financial statement in the positive area, feared sales difficulties in Asia due to the weakness of the yuan, a slowdown that has already been seen in the second semester of 2018. “We have not seen a significant recovery in sales in China in the first two months of this year” analysts of CMB International commented with Fashion Network, but they believe in an improvement of Prada slower than its competitors.

Ferruccio’s light

Ferruccio Ferragamo “sees the light in 2019” and confirms once again the compactness of the family: there is no intention of selling. “We are all committed, starting with the CEO, with the desire to perform and achieve beautiful results that are not obvious, because the world is big, it offers so many opportunities and even many challenges”. This means that “we are standing still and we see a bit of light”, said Salvatore Ferragamo‘s president on the sidelines of a conference held in Florence and reported by Reuters. The title of the Florentine fashion house was revalued after the data of 2018 and today it is going through a positive market session.

 

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