The rest of the luxury world may be quailing in the face of an Asian slowdown; Cassandras may crying doom! as the new Chinese political regime cracks down on bribery and obvious bling; Europe may be seeing flat or no growth, but you’d never know it to look at the Prada Group’s results. Today the Italian luxury Group, which includes Prada, Miu Miu, Car Shoe and Church’s, and is listed on the Hong Kong stock exchange, reported consolidated net revenues of Euro 3,297 million, a 29% increase (+23% at constant exchange rates) over 2011, making its earnings per share — up 41% in 2012 (from Euro 0.17 in 2011, to Euro 0.24) – the highest in luxury according to a recent report from HSBC.
Vanessa has been the FT’s fashion editor since 2003, and is based in New York, though she lived in London for 12 years.
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