HONG KONG (Yosefardi) – Prada’s Asia Pacific market delivered net sales for Euro 902.9 million in the nine months ended October 31, 2014, down by 3.1% compared to Euro 932.0 million recorded in the same period of nine months a year earlier.
At October 31, 2014, in the area the Group operated through 170 DOS, out of which 16 new shops unveiled during the period and 3 stores closed.
The retail channel contracted by 4.3% (-2.8% at constant exchange rates) as a result of a general slowdown in demand particularly strong in Hong Kong and Macau.
Overall the Greater China retail net sales amounted to Euro 566.2 million, down by 4.1% (-2.3% at constant exchange rates).
It is worth highlighting that in South Korea, the only significant wholesale market in the area, the independent clients’ business (mainly duty free operations) recorded double-digit growth both as reported and at constant exchange rates, benefiting of more consistent tourist spending mainly from China.