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Prada says revenues climb 29 percent for fiscal year ending January
February 19, 2013 / 9:51 AM / in 5 years

Prada says revenues climb 29 percent for fiscal year ending January

The Prada logo is seen outside its store in Hong Kong June 12, 2011. REUTERS/Tyrone Siu

HONG KONG (Reuters) - Italian fashion house Prada SpA said on Tuesday its revenues for the 12 months ended January 2013 rose 29 percent from a year earlier to 3.3 billion euros ($4.4 billion).

The Milan-based maker of luxury bags and Miu Miu dresses, which has a market value of $24 billion, said its same-store sales growth was 14 percent during the period.

Prada, which competes with Louis Vuitton and PPR’s Gucci, in August posted a 36.5 percent jump in revenue to 1.55 billion euros for the six months ended July, with same-store sales for directly operated stores growing 19 percent year-on-year during the period.

($1 = 0.7490 euros)

Reporting By Donny Kwok; Editing by Anne Marie Roantree

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