* Yearly revenue rises to $4.4 billion from year ago
* Asia-Pacific revenue climbs 33 percent
* Same store sales growth at 14 pct
* Opened 78 new stores in fiscal 2012
HONG KONG, Feb 19 Italian fashion house Prada
SpA, which competes with LVMH's Louis Vuitton
and PPR's Gucci, said on Tuesday its
preliminary revenues rose 29 percent for the 12 months ended in
January, driven by sales in Europe and the Asia Pacific.
The Milan-based company, famed for its luxury handbags and
Miu Miu-brand dresses, is expected to announce its earnings for
the fiscal year that ended on Jan. 31 in April. It said in a
statement that preliminary same-store sales growth was 14
percent during the fiscal year.
Revenues rose to 3.3 billion euros ($4.4 billion). The
company has a market value of $24 billion.
Prada said revenues in Europe, excluding Italy, grew 36
percent, while Asia-Pacific clocked up sales growth of 33
percent, followed by Americas with 23 percent and Japan with 14
percent. Sales in Italy rose 19 percent.
The Hong Kong-listed company opened 78 new stores during the
period, taking the total number of directly operated stores to
461 as of January 2013.
European luxury goods groups have increasingly relied on
affluent shoppers from Asia to drive sales, although a crackdown
on conspicuous spending in China as it tackles corruption has
investors worried about the impact on sales of high-end
products, which are often gifted to officials.
British luxury brand Burberry Group Plc spooked
investors in September when it warned that sales growth in China
was far slower than expected.
Last month, however, Burberry highlighted a rebound in
Chinese demand as it beat forecasts with a 9 percent rise in
revenue after a particularly strong week in the run-up to
Prada did not provide a breakdown for China sales.
Helped by wealthy tourists and overseas growth, the Italian
fashion house in December reported a 30 percent rise in
third-quarter net profit to 122 million euros, topping analysts'
average forecasts of 110 million and lifting hopes for holiday
sales of its leather bags and colourful dresses despite
recession at home.
Prada's shares jumped gained 110 percent in 2012,
outperforming a nearly 23 percent gain in the benchmark Hang
The stock closed down 0.6 percent on Tuesday ahead of the
sales data, beating a 1 percent fall in the blue chip Hang Seng