Prada Has A New Strategy To Overcome Its Weak Sales
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- June 13, 2015
Photo: SIPA/WENN
While we fell in love with Prada’s polar contrast approach on the fall 2015 runway, it seems the brand’s futuristic aesthetic hasn’t won everyone over. The label’s first quarter results are finally in, and to the surprise of many, their numbers fell short.
According to Bloomberg, the Italian fashion house’s net income tumbled to $64 million compared to the $144.2 million of 2014. The shortage comes as a result of sales slumping in China, with the market continuing to “affect the group’s operating results.”
As an outcome, the luxury brand is responding by opening fewer stores, eliminating wholesale accounts and introducing a selection of bags that price in at around $1,100 to $1,300. Sound pretty affordable, right? While there aren’t any additional details for the new accessory line, Prada’s plan going forward is to “start a growth trend as well as to rationalize operational processes.”
We’re hoping the label can come back from this unexpected slump, and pump out some pretty covet-worthy bags while they’re at it.
But until then, check out a few handbags from the fashion house we’re currently lusting over on the pages ahead.
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