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Prada S.p.A. (1913.HK)

HKSE - HKSE Delayed price. Currency in HKD
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64.900-1.250 (-1.89%)
At close: 04:08PM HKT
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  • Reuters

    Prada not looking at M&A, sees 'positive surprise' from US, CEO says

    Italian luxury group Prada is not looking at big acquisitions as it is focused on the brands it already owns, its Chief Executive Andrea Guerra said on Monday. Speaking at the FT Luxury Summit in Venice, Guerra added that he expected a positive surprise this year from the U.S. market for the luxury sector. Lorenzo Bertelli, one of the two sons of Prada's founders Miuccia Prada and Patrizio Bertelli, is expected to be appointed CEO after Guerra.

  • Reuters

    UPDATE 3-Burberry looks to classics after Lee's designs struggle to excite

    Burberry said on Wednesday it would increase its focus on classic designs like trench coats after a sharp fall in sales in the fourth quarter when stores featured new designer Daniel Lee's collection of more expensive runway fashion. Burberry has been trying to move upmarket under its latest banner of "Modern British Luxury", with references to the brand's 168-year-old heritage, dressing the English upper class. Results published on Wednesday showed the extent of the challenge facing Chief Executive Jonathan Akeroyd, with fourth-quarter like-for-like sales slumping 12% and annual profits down by 34% to 418 million pounds ($526 million).

  • Associated Press Finance

    Prada focuses generational transition on artisans, expanding production and workforce in Italy

    The Prada Group is expanding its production footprint in Italy, including dozens of new jobs at its knitwear factory in Umbria, leaning into “Made in Italy” as integral to the brand’s ethos and developing new artisanal talent to ease the luxury group through a generational shift in its workforce. Prada CEO Andrea Guerra, who was brought in last year as part of the generational change in family-run Prada’s management, said at an unveiling of the expanded plant Tuesday that the company is investing 60 million euros ($65million) in production this year. At Torgiano, Prada has added 30 new jobs this year, alongside 65 last year, bringing the workforce to some 220 employees, mostly women, to create knitwear for the Prada and Miu Miu brands, a key category for the group.