The second half of 2020 for the Prada brand was a period of a gradual recovery in retail sales, even despite the closure of some branded stores (9% of the chain). In December 2020, Prada sales recovered to December 2019 levels, writes Worldfootwear.com.
It is noted that in the second half of 2020, the negative impact of the Covid-19 pandemic was especially noticeable on the markets of Europe and Japan, primarily due to the suspension of tourism, while America, the Middle East, Russia and, above all, Asia- The Pacific region performed well. In China, Prada sales grew 52%.
The Prada Group's wholesale sales have declined in line with a strategy adopted in 2019 to protect brand image, a strategy that remains in the company despite the difficult economic situation. The retail channel currently accounts for about 90% of Prada's total sales.
Prada SpA CEO Patrizio Bertelli expressed his satisfaction with the company's performance, which faced serious difficulties in 2020, and to act in a situation of uncertainty that is likely to persist in the coming months.