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(Reuters) Italian luxurious group Prada posted sturdy leads to the primary 4 months of the yr as its U.S. enterprise offset the impression of suspending operations in Russia and coronavirus lockdowns in China, CEO Patrizio Bertelli was quoted as saying.
Bertelli added the Milan-based, Hong Kong-listed trend home has no plans to revise its targets, whereas it could think about a twin itemizing on the Milan inventory trade sooner or later, in line with an interview with Corriere della Sera’s weekly insert L’Economia revealed on Tuesday.
Russia accounts for simply 2% of group gross sales, however China “is essential and for the previous 15 days we now have had greater than 50% of our retailers closed”, Bertelli mentioned.
Nonetheless, he added the corporate “did effectively, above expectations” within the first quarter, with the U.S. offsetting China’s weak point, and likewise reported good outcomes for the primary a part of April.
The manager reiterated that his son, Lorenzo Bertelli, will succeed him in “three to 4 years”, and that the chance to merge main Italian manufacturers right into a single group — following the mannequin spearheaded by French trend giants Kering and LVMH — has handed.
“For me the opportune second was from 2000 to 2010, now we’re lagging far behind,” he mentioned.
Supply: Reuters; Reporting by Claudia Cristoferi; Modifying by Kirsten Donovan April 19, 2022 2:56 AM PDT
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