×
362
Fashion Jobs
PNB HOUSING
Area Sales Manager
Permanent · Thane
PNB HOUSING
Area Sales Manager
Permanent · Pune
JM FINANCIAL HOME LOANS LTD
Area Sales Manager - Home Loans
Permanent · Chennai
DANIEL WELLINGTON
IT Support Specialist
Permanent · MUMBAI
ADIDAS
Senior Manager, Ecommerce Campaign Operations, Apac
Permanent · GURUGRAM
MANPOWERGROUP SERVICES INDIA
Opening || Horeca Sales Manager || Kolkata
Permanent · Kolkata
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Karaikal
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Thiruvarur
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Tirunelveli
AVANTOR
Area Sales Manager- Lab Consumables
Permanent · Pune
ADIDAS
Manager Brand Activation Originals
Permanent · GURUGRAM
ZACH LIFESTYLE PVT. LTD.
Manager - Content & Social Media
Permanent · MUMBAI
MONALISA ELECTRONIC DESIGN CENTRE PRIVATE
Excellent Job Opportunity For Area Sales Manager- gt & mt
Permanent · Shimla
RRD
Associate Production Manager
Permanent · Chennai
GOKALDAS EXPORTS
Executive - Warehouse (Apparel / Garments Background)
Permanent · Bhopal
NEW ALFA INTERNATIONAL
Foundry Production Manager
Permanent · Dubai
MEDCIS PATHLABS
Medcis Pathlabs is Hiring For Pathology Area Sales Manager
Permanent · Visakhapatnam
PERFECT PUBLISHING SOLUTIONS
Area Sale Manager-b.Tech Fresher-German Mnc -Immediate Joining
Permanent · Bhubaneswar
PERFECT PUBLISHING SOLUTIONS
Area Sale Manager-Denmark Mnc - Medical Device or Hearing Aid
Permanent · Chennai
PEOPLE ALLIANCE WORKFORCE
Area Sales Manager - Cosmetics & Personal Care - Fmcg Industry
Permanent · Bhopal
DESAI ELECTRONICS
Manager Production
Permanent · Pune
PEOPLE ALLIANCE WORKFORCE
Area Sales Manager - Ophthalmic Segment/Ent- Pharma Industry
Permanent · Bengaluru
By
Reuters API
Published
Jul 30, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Prada sees recovery in Asia after tough H1, no excess inventory issues

By
Reuters API
Published
Jul 30, 2020


Italian fashion group Prada said on Wednesday that sales had recovered sharply in Asia since June after the fallout from the coronavirus pandemic triggered a 40% decline for comparable revenues in the first half of the year.


Prada - Spring-Summer2020 - Womenswear - Milan - © PixelFormula


The revenue fall to €938 million at constant exchange rates in the six months to June was steeper than a 35% decrease forecast by analysts, according to Smart Estimates provided by Refinitiv.

The Milan-based, Hong Kong-listed luxury group posted a net loss of €180 million, hit by store closures and a near-absence of tourism due to the Covid-19 crisis.

Prada said it had seen double-digit sales growth in Asia since last month, and encouraging signs in other markets as movement restrictions eased. E-commerce delivered sales growth of 100% or more during and after the lockdowns, it said.

In a statement, Chief Executive Patrizio Bertelli said the group was confident that sales would return to growth in the second half of the year.

Prada said it had taken a series of cost-cutting measures during the emergency, including renegotiating rents and cancelling or postponing marketing initiatives. It also scrapped the payment of a dividend for 2019.

It said the quick reopening of its productions sites, which are mostly based in Italy, and the direct control over its supply chain had allowed it to supply stores with new seasonal clothing in time and to manage its stock effectively, without excess inventory.

The global health emergency, which first hit the key Chinese market before spreading to Europe and the United States, interrupted two years of sales recovery at Prada, the result of a revamp plan focused on boosting e-commerce and sticking to full-price sales.

The group earlier this year appointed Raf Simons as co-creative director alongside Miuccia Prada, in a move which many industry observers see as paving the way for a possible succession.

© Thomson Reuters 2023 All rights reserved.