People stroll past Prada's fashion store in downtown Milan February 4, 2015. REUTERS/Stefano Rellandini
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
The trend in luxury goods is to drum up same store sales by curbing expansion and wowing customers with new products, yet Prada continues to pay over the odds to open swanky new shops and stock them with handbags little changed from previous best-sellers.Prada, say analysts, now urgently needs to focus less on new stores and more on new handbags.The group, which also owns the Miu Miu and Church's brands, opened 250 stores in the past three years, far more than rivals. Analysts estimate same-store sales, which Prada stopped reporting last year, fell year-on-year by 12 percent in the third quarter to Oct. 31 and may have dropped by as much as 9 percent in the quarter to Jan. 31 .In Milan, Prada outbid Apple and Gucci to build a menswear shop facing its historic boutique in the prestigious late 19th-century Galleria Vittorio Emanuele II shopping arcade, paying more than 20 million euros to get the spot, real estate sources said.Prada says it continues to work on improving its flow of new products and constantly recruits young designers.
FOLLOW THIS ARTICLE