Prada Does Very Well in Hong Kong

By Butterboom Writers  /  April 3, 2008

Launching new store in Elements and making big money.

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Butterboom attended the new Prada boutique opening at Elements last night, attended by some celebs and models and Hong Kong’s fashionistas. A great, spacious new shop in Hong Kong’s great new mall. Prada also screened their animated short film Blossoms which we featured last week on Butterboom, and you can watch it here.

We’re happy that Prada is definitely looking outside to popular culture to guide the look and feel of their brand and it seems it helps with sales too as their recent earnings report shows that they are doing very well, and are hinting at an IPO:

Prada SpA said Monday earnings increased by about two-thirds in 2007 after strong sales of leather goods and accessories and growth in Asia.

However, the Italian luxury group, which owns the Prada, Miu Miu, Car Shoe and Church’s brands, gave no further clues to whether it would proceed with its planned listing on the Milan Stock Exchange this year.

For the 12 months through Jan. 31, net profits gained 65.8 percent to 126.8 million euros, or $173.8 million at average exchange. Sales for the period increased 14.1 percent to 1.66 billion euros, or $2.27 billion.

Prada chief executive officer Patrizio Bertelli said an initial public offering “would represent an opportunity for the group to give our growth projects a further boost,” but did not say when one might occur.

Prada’s Elements shop is at Level 2, 2062A in Kowloon.

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