News From Prada

We're happy to find this out. According to fashion source Vogue.co.uk, fashion designer label Prada's sales figures have sky-rocketed for the last year with net profits growing by a staggering 63 per cent to £52 million, while sales rose 8.2 per cent to £1 billion. Prada said that the results confirm the forecasts it made as part of a five-year growth plan dating back to September 2005. Diffusion line Miu Miu also added a heavy weight to the figures, with sales rising more than 22 per cent. A successful Miu Miu show in Paris last year, instead of the usual location for Prada in Milan, spearheaded a unique identity and a raised profile for the brand. Prada's chief executive officer Patrizio Bertelli, husband to the designer herself, told the press, "The investments in retail we are making in 2007 will allow a further acceleration of our businesses on the most important fast-growing markets. We can be confident as we look forward, also with a view to a potential initial public offering in the near future."

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Till next time ;-)