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Prada’s revenues buoyed by refined digital strategy

MILAN (AP) — The Prada fashion group says its revenues grew by 6 percent last year as the company honed its social media strategy to draw in customers.

Prada on Friday reported 2018 revenues of 3.1 billion euros ($3.5 billion), compared with 3 billion euros the previous year.

Underlining the success of Miuccia Prada’s latest collections, ready-to-wear sales grew by 10 percent, while a new sneaker offering gave footwear a more modest boost. Revenues grew across all geographies, led by Asia Pacific, and across brands, with Prada’s 10-percent increase outpacing little-sister brand Miu Miu.

CEO Patrizio Bertelli said digital communication had made consumers “ever more aware of their purchasing choices” and would take on “an even more crucial importance.”

Associated Press

Associated Press

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