Online sales surge five times pre-Covid levels as Asia Pacific leads growth

  • Prada’s FY21 revenues increased by 41% to €3.36bn
  • Online sales surged 61% YoY, five times higher compared to pre-Covid levels
  • Net income reached €294m and EBIT grew to €489m
  • Retail channel delivered €2.93bn in sales, up 15% from FY19 and 40% from FY20
  • Wholesale channel saw a 41% YoY increase, but down 29% from FY19
  • Asia Pacific had the highest sales at €1.19bn, up 29% YoY and 30% from FY19
  • Sales in Europe were €749m, up 35% compared to FY20 and down 11% from FY19
  • Americas sales increased by 103% compared to FY20 and 69% from FY19
  • Japan’s revenues were impacted by pandemic restrictions, up 16% YoY but down 17% from FY19
  • CEO Patrizio Bertelli: ‘Our long-term strategy is on track’
  • Strong growth and increased profitability driven by distinctive brand identity, product quality, direct distribution, and sustainability

Luxury fashion house Prada S.p.A has reported a 41% year-on-year increase in full-year revenues to €3.36bn, with online sales skyrocketing 61% compared to pre-Covid levels. The retail channel contributed €2.93bn, up 15% from FY19 and 40% from FY20. Wholesale channel sales reached €386m, a 41% increase YoY but down 29% from FY19. Asia Pacific led the growth with €1.19bn in sales, up 29% YoY and 30% from FY19. Europe saw sales of €749m, up 35% compared to FY20 but down 11% from FY19. Americas experienced a sharp increase, reaching €572m, growing 103% compared to FY20 and 69% from FY19. Japan’s revenues were affected by pandemic restrictions, up 16% YoY but down 17% from FY19. CEO Patrizio Bertelli credits the company’s strategy focusing on brand identity, product quality, direct distribution, and sustainability for the outstanding growth.

Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about Prada’s financial performance, including revenue growth, net income, EBIT, online sales, and regional breakdown of sales. It also includes a quote from the CEO discussing the company’s strategy and outlook for the future.
Noise Level: 2
Noise Justification: The article provides relevant information about Prada’s financial performance and growth in various regions, as well as the CEO’s comments on the company’s strategy and outlook. It also includes a brief mention of the impact of the Ukraine conflict. The content is focused and informative without any unnecessary filler or misleading information.
Financial Relevance: Yes
Financial Markets Impacted: The article impacts luxury goods companies and financial markets in Asia Pacific, Europe, Americas, and Japan.
Financial Rating Justification: The article discusses Prada’s financial performance, including revenue growth, net income, and EBIT, which are all relevant to the company’s financial health. It also mentions sales performance in various regions, impacting luxury goods companies and financial markets in those areas.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the text.

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