Asia continues to be a profitable market for Prada, which reported a 50 per cent boost in net income during the nine months to October.

The Italian luxury fashion company, which owns Prada, Miu Miu, Church’s and Car Shoe brands, booked a net income of €408.6 million (US$529.4 million) from €273.2 million (US$354 million) a year earlier.

Asia, where revenues increased 41 per cent, was the best performing market, followed by Europe, at 33 per cent and America at 28 per cent.

Leather goods grew by 51 per cent while clothing and footwear both increased 15 per cent.

The company’s international expansion has seen 42 new stores open in the nine months, taking the total retail network to 428 directly operated stores, including 270 Prada stores, 108 Miu Miu, 44 Church’s and six Car Shoe.

“The Prada group has again shown that it has the necessary ability and spirit of initiative to generate positive results, even in the difficult current international economic climate,” said CEO Patrizio Bertelli.

Meanwhile, the company has continued Miu Miu’s rollout in Asia with a monobrand store opened at Yanlord Landmark in Chengdu. The 360 sqm store, designed by architect Roberto Baciocchi, comes on the heels of its store opening at Sanlitun Village in Beijing.

GB