Prada has set in motion its succession plan, putting an end to growing speculation about the management and design handover at the Italian luxury company.
businesses, as well as Thélios, the Italian eyewear firm that LVMH took full control of last year.
The Miuccia-Raf collaboration has helped boost the group’s bottom and top lines. As reported in March, Prada returned to profitability in 2021 after a strong second half, driven by increased sales of handbags, footwear and ready-to-wear, which saw a 53 percent jump in revenues compared with 2020 and a 16 percent increase on 2019.Retail sales, which account for 90 percent of group revenue, rose 26 percent to 1.7 billion euros, while overall revenue for the period was up 22 percent to 1.
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