Prada’s performance for 2021 was of +41% on yearly base, and most importantly, up 8% on 2019. The group is quickly moving towards its medium-term objective: 4.5 billion euro in sales, double those of 2020. According to the update shared by the company, revenue in 2021 equaled 3.36 billion euro. Additionally, the group’s profitability also improved thanks to the increment of retail and full-price sales. In this case as well, Prada took a step forward towards its medium-term goal, which is of brining operating profits to 20% of total sales.
Prada’s performance in 2021
“It was a challenging year – said CEO Patrizio Bertelli -. We showcased our readiness and quickness in answering the market’s demands, at a very dynamic time. We put together a series of actions that allowed us to properly interpret consumer behaviors’ changes. Prada group has the ability and resources to place new growth objectives before itself”. The 2nd quarter was particularly positive: direct retail sales and e-commerce grew by 27% compared to the same period of 2020 and by 21% on 2019.
Church’s has a new CEO
Remining within Prada group, British footwear brand Church’s has a new CEO: Denni Manzatto. He will take over from Anthony Romano, who had been in the position since 2017. Mr. Manzatto will also maintain his role as commercial director – wholesale, eyewear, and fragrances.
In photo: Prada’s catwalk during the last edition of Milano Uomo
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