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Prada’s CEO: China sales up by more than 10% in May

Jun 3, 2020 Italy
Prada’s CEO: China sales up by more than 10% in May
In an interview to Bloomberg TV Patrizio Bertelli, CEO of Italy-based luxury company Prada, said that sales of the brand in China rose significantly more than 10% in May compared
The luxury brand’s CEO continued and added this is still far from being enough for a complete recovery of the luxury sector after the end of the Covid-19 driven lockdowns.

Mr. Bertelli added that this increase is far from being sufficient to a complete recovery of the luxury sector and that Europe remains a problem. This is partly due to the fact that the European luxury sector is driven by tourist sales and, even after the lockdowns are lifted, tourism across the continent is expected to remain in low levels, especially while no vaccine is available.

Prada's CEO added that the company is looking forward to demand recovering more consistently worldwide with no plan to delist the company.

Source: Bloomberg

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