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  • Prada Japan flourishes

    Prada Japan flourishes

    Prada Japan has posted a strong sales lift in the first half thanks to a burgeoning number of inbound tourists.

    Sales in the Japanese market grew by 12 per cent year on year current exchange rates and by five per cent on constant exchange rates. Tellingly, growth was stronger in the second quarter than in the first.

    In its half year results issued Friday, Prada reported net revenue for the six months to July 31 of euro 1.823 billion, a four per cent increase over the corresponding period in 2014. Wholesale sales fell 14 per cent, reflecting Prada’s strategy of rationalising its network of retail partners in favour of selling from its own stores.

    While Japan was a standout market, sales in Asia Pacific fell, offset by a positive rate exchange effect.

    “Hong Kong and Macau remain the main drivers affecting the performance in this geographical area,” Prada said.

    At current exchange rates, sales increased 15 per cent in both the Americas and in the Middle East.

    The European market has continued to grow with revenues up at both current exchange rates up 12 per cent and constant exchange rates up 11 per cent, thanks to a steady flow of tourists together with a recovery in consumption by domestic customers.

    By brand, Prada recorded five per cent growth at current exchange rates which is entirely attributable to the exchange rate effect, mainly because of the adverse economic situation in the Asian market.

    Miu Miu continues to grow with revenues up at both current exchange rates up 19 per cent and constant exchange rates up six per cent, showing an acceleration in the second quarter of the year. Church’s achieved sales growth of 19 per cent, with the volumes trend also remaining largely positive. Car Shoe has performed broadly in line with prior year.

    Prada Group CEO Patrizio Bertelli said sales in the first half of 2015 reflect an economic and exchange rate landscape that remains “rather volatile with the continuing weakness of important markets like Hong Kong and Macau and the uncertainty that is looming on other Asian markets”.

    “Our distribution structure, which has achieved an appropriate global presence, together with our awareness of the specific needs of the various markets, has enabled us to compensate for the drop in sales in Asia Pacific thanks to growth on markets which are currently more dynamic like Europe and Japan. We will continue to prioritise measures intended to sustain long-term growth focusing on our manufacturing tradition and innovation, as again confirmed recently by the success of our latest collections.”

  • Prada Jakarta opens doors

    Prada Jakarta opens doors

    Prada Jakarta has opened its doors, the luxury Italian fashion brand’s first store in Indonesia.

    The new 420 sqm single level store is located inside the upmarket Pacific Place shopping mall.

    The retail space, designed by architect Roberto Baciocchi, houses the women’s and men’s ready-to-wear, leather goods, accessories and footwear collections.

    The external facade is clad in black Marquinia marble, while slim polished steel profiles highlight the light boxes.

    The store has a corner location inside the mall, with slim strips of black Marquinia marble framing the entrance, display windows and large floor-to-ceiling windows that open up on the interior.

    The space is designed as a succession of rooms, each featuring a different atmosphere.

    The women’s leather goods area is defined by the signature black-and- white marble chequered flooring – a legacy of Prada’s identity worldwide – and green fabric-clad walls with alcoves housing displayed product, an original reinterpretation of Prada’s iconic display niches.

    The space housing the women’s accessories and small leather goods collections is characterised by black marble-clad walls and display counters with coloured saffiano leather detailing.

    The women’s footwear collection is showcased in an area defined by green fabric-clad walls with cut-in display niches. Beige carpeting and green velvet sofas create an elegant atmosphere.

    Green fabric-clad walls also characterise the area dedicated to the women’s ready-to-wear collection, where transparent perspex cases exalt the product display. Crystal tables and green velvet sofas complete the furnishing.

    The space devoted to men comprises an area dedicated to the leather goods and accessories collections and another room where the footwear and ready-to-wear collections are displayed. The area features masculine materials and finishes: ebony floorboards and walls, dark brown carpeting and cotto-coloured leather sofas. Polished steel display cases and counters with drawers covered in coloured saffiano leather complete the setting.

  • Prada China opens Wuhan retailer

    Prada China opens Wuhan retailer

    Prada China has opened a brand new retailer in Wuhan, inside the distinguished Worldwide Plaza purchasing centre.

    The 2-level, 950 sqm retailer area, designed by architect Roberto Baciocchi, homes the ladies’s and males’s ready-to-wear, leather-based items, equipment and footwear collections.

    The exterior facade pays tribute to artist Carlo Cruz-Diez.

    The massive entrance, mild bins and home windows are inserted into the decrease a part of the facade, which is clad in black granite and topped by an imposing gold and steel-coloured aluminium construction backlit to create a singular kinetic impact each day and night time.

    General, the facade stands 10 metres tall and stretches roughly 50 metres in size. The interior facade, the place the second entrance to the shop is situated, can also be clad in black granite.

    The inside is designed as a succession of areas, every that includes a unique environment.

    The doorway contained in the mall, outlined by the signature black-and-white marble chequered flooring, opens on an space housing the ladies’s leather-based items and equipment collections. Inexperienced fabric-clad partitions with Prada’s iconic cut-in niches with polished metal profiles outline the area.

    Inexperienced velvet sofas characterise the world devoted to ladies’s footwear.

    The ladies’s ready-to-wear assortment is showcased in an area outlined by inexperienced fabric-clad partitions and clear perspex show models.

    The lads’s leather-based items and equipment collections are set in polished metal show instances inserted into alcoves wrapped in black marble with inexperienced fabric-clad backdrops.

    The area devoted to the lads’s ready-to-wear and footwear collections is characterised by ebony floorboards and partitions, chocolate brown carpeting and cotto-coloured leather-based sofas. Polished metal show instances and counters with drawers coated in colored saffiano leather-based full the furnishing.

    Prada says it admires French-Venezuelan artist Carlos Cruz-Diez, whose paintings served as a place to begin for the design of the facade.

    The Prada boutique is situated in Wuhan Worldwide Plaza, 690 Jiefang Ave, Jianghan, Wuhan, Hubei.

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  • Online store merger prods luxury goods makers towards internet

    Online store merger prods luxury goods makers towards internet

    The merger of the world’s two biggest online fashion stores, Net-a-Porter, or NAP, and Yoox, sends a warning to luxury brands to embrace the Internet with more vim after years of resistance.

    Top brands such as Prada and LVMH’s Christian Dior still baulk at the idea of selling clothing online as well as through their plush boutiques.

    “Considering the level of sophistication and image of our ready-to-wear, we feel the shopping experience has to remain immaculate and in-store,” says Stefano Cantino, head of marketing and commercial development at Prada.

    “You need the physical environment to try the product on and you need an exclusive service which you can only get in a boutique.”

    But as more people choose to buy through a website instead of going to Rue St Honore or New Bond Street, that position looks increasingly untenable. Brands whose goods are not available online risk losing customers to rivals.

    Luxury executives understand the Internet will be vital for future sales, particularly to so-called Millennials — web-savvy customers born between 1980 and 2000.

    Yet top brands such as LVMH’s Louis Vuitton, Hermes, Prada and Chanel have been slow to invest in e-commerce as other retail sectors have done in the last decade.

    Some have focused as much on the shopping experience as on the products themselves, spending heavily on worldwide expansion and revamping stores with help from famous designers.

    “Many luxury brands have not figured out yet how to be innovative and creative online,” said Anant Sharma of consultancy Matter of Form. “It looks like they are scared to try things out.”

    Sharma said many brands’ websites mimicked the appearance of Net-a-Porter’s black-and-white portal. “If they had the same approach to physical retail, we’d all be shopping in whitewashed rooms with clothes lined up against the four walls.”

    Immediately after the Yoox/NAP deal was unveiled last month, Chanel said it would start retailing online next year. This month, it is selling a new jewelry line exclusively through NAP for just three weeks.

    “The merger between Yoox and NAP sends the message that you need to be online or you may be out of the game,” Euromonitor luxury goods analyst Fflur Roberts said.

    Euromonitor expects 40 percent of all luxury goods sales will be made via the Internet in less than five years.

    Online annual luxury goods sales have been growing at 15-25 percent while the industry’s average growth rate has slumped to 5 percent this year from above 10 percent four years ago as brands have completed big global roll-outs.

    Analysts estimate that 5-6 percent of luxury goods are purchased online, although that jumps to around 8 percent for leather goods such as shoes and handbags.

    Designer websites vary in usability but few offer customers as much help as sites like NAP, which shows clothes on models, gives details of fit and sizing and carries styling tips.

    Prada’s e-commerce site carries no ready-to-wear, sticking to bags, shoes and other accessories.

    Kering’s Saint Laurent and Gucci have slicker sites, offering a wide range of clothing and proposing complete looks. Saint Laurent also features designer Hedi Slimane’s black and white photographs of musicians such as Marilyn Manson and Marianne Faithful.

    But Hermes’s iconic 8,000 euro Birkin or Kelly bags still cannot be bought online — and may take more than year to arrive after being ordered from a store.

    ?????????????????Department stores push

    While many big luxury brands are still figuring out an Internet strategy, high-end department stores already sell their products online.

    The Neiman Marcus chain, which includes New York’s Bergdorf Goodman, does 24 percent of its business online, up from 15 percent five or six years ago. Last year, it acquired German online fashion retailer My Theresa, aiming to better serve customers outside the United States.

    London’s Harrods, whose website gets 3 million visitors a month and sells brands such as Valentino and LVMH’s Givenchy, is also stepping up online investment.

    “Our customer demands an omni-channel shopping experience, and to remain at the forefront of luxury retail we need to respond to this,” Harrods managing director Michael Ward said.

    Chief Executive Bernard Arnault said at LVMH’s annual general meeting last week that “more and more products would be sold online” and the group was “currently adapting to this situation”.

    LVMH labels such as Fendi, Kenzo and Emilio Pucci already offer many products online — Fendi sells 750 euro baguette bags and 6,180 euro blue feathered dresses — but Louis Vuitton sells only accessories, pens, watches and jewelry.

    Richemont’s Cartier brand has sold jewelry online in the United States since 2010 and its online store now ranks third behind its two main flagships in terms of sales.

    Privately owned Patek Philippe, does not sell any of its 10,000 euro plus timepieces on the Internet, however, and told Reuters last month it has no intention of doing so.

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  • New Prada Bangkok store unveiled

    New Prada Bangkok store unveiled

    Prada has strengthened its Bangkok presence opening a new 440 sqm store in The Mall Group’s new EmQuartier shopping centre.

    The store, designed by architect Roberto Baciocchi, comprises a single level destination and houses the women’s and men’s ready-to-wear, leather goods, accessories and footwear collections.

    Prada Bangkok EmQuartier 415-4

    The external façade stretches some 40 metres and blends into the mall’s modern architectural composition: a white canvas curtain enclosed in a crystal box and flanked by large light boxes creates a sophisticated atmosphere. Slim strips of black granite with polished steel profiles frame the large entrances, windows and light boxes.

    The first entrance, defined by the signature black-and-white marble chequered flooring, opens on an area housing the women’s leather goods and accessories collections. The space is characterised by green fabric-clad walls with sleek polished steel and crystal display cases. Polished steel counters with drawers covered in coloured saffiano leather complete the furnishing.

    Prada Bangkok EmQuartier 415-3

    The next space is defined by an intimate atmosphere, with green fabric-clad walls and transparent perspex display units exalting the display of the women’s ready-to-wear collections. The footwear collections are nestled in elegant alcoves that recall Prada’s trademark display niches. Green velvet ‘Clover Leaf’ sofas, designed by Verner Panton and reproduced exclusively for Prada, crystal tables and display counters embellished with coloured saffiano leather elements enrich the space.

    Prada Bangkok EmQuartier 415-4

    The entrance to the area devoted to men leads to a space characterised by the distinctive black-and-white marble chequered flooring and ebony-clad walls with precious polished steel display cases, hosting the men’s leather goods and accessories collections. The area dedicated to the ready-to-wear and footwear collections is defined by ebony floorboards and walls, ‘pony skin carpeting’ and coloured ostrich leather sofas.

    Prada Bangkok EmQuartier 415-5

    Additional furnishings, such as polished steel display units and counters with drawers covered in coloured saffiano leather, complete the setting.

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  • Miu Miu Japan opens new flagship

    Miu Miu Japan opens new flagship

    Prada brand Miu Miu has unveiled a new project with Swiss architects Herzog & de Meuron, the centrepiece of its Japanese operations.

    The 720 sqm building on Miyuki St in the Aoyama District of Tokyo will be the cornerstone of the brand’s Japanese activities. Based in Paris, Miu Miu was established by Miuccia Prada in 1993 as a platform for design explorations beyond her legendary Prada line. Since opening its first boutique in Aoyama in 1999, Miu Miu has maintained a significant presence in Japan and now has 23 boutiques across the country including nine in Tokyo.

    Miu Miu Aoyama Tokyo 415

    Prada says the new building continues the company’s tradition of collaboration with world-class architects and re-emphasises Miu Miu Japan’s dedication to the Japanese market.

    The project for Miu Miu is sited diagonally across the street from the Prada Tokyo Epicenter – also designed by Herzog & de Meuron – in an elegant neighborhood that has, over the past two decades, become a showplace of architectural invention. In contrast to the transparency of the all-glass Prada building, however, the understated metallic surface of the Miu Miu façade is opaque, which lends a more intimate feel.

    Miu Miu in Aoyama Tokyo 415

    The architects say: “Contrary to expectations for a site that is home to so many luxury brands, Miyuki St in Aoyama Tokyo is not particularly beautiful or elegant. The architecture is heterogeneous – a hodgepodge of freestanding buildings of different heights and shapes, with neither historical tradition nor common standards.

    “Never meant to be a space of its own, the street is a purely technical and functional link between Omotesando and the Aoyama Reien cemetery farther down the road. Despite single trees here and there, the atmosphere is not inviting, like a boulevard or a plaza. Tokyo is pure, quintessential city, its territory exploited to the full with absolutely no leeway for the individuality that we take for granted in European cities.

    Miu Miu in Aoyama Tokyo.415

    “We already noticed this over 10 years ago when we were planning the glass building for Prada Aoyama,” they continued.

    “At that time, we were interested in counteracting the situation – on one hand, by placing a small plaza to the side of the building, and on the other, by making the structure completely see-through so that one can see into the interior from all sides and can also look out from inside at specifically targeted views of the city.

    “Over the past decade, the distinctive building has become a much-frequented location and it was therefore important to Prada, our client Prada Japan and also to us as architects to take this into account in planning the Miu Miu store located in the immediate vicinity on the opposite side of the street. We started out by trying several different architectural typologies. Since zoning regulations called for less height, we explored the potential of a smaller, more intimate building. We used the following thoughts to channel our ideas: more like a home than a department store, more hidden than open, more understated than extravagant, more opaque than transparent.

    Miu Miu in Aoyama, Tokyo 415

    “The typological model that best suited these considerations and specifications was a box placed directly at the level of the street, its cover slightly open to mark the entrance and allow pedestrians to look inside. Only then do they realise that the building is a shop.

    “Here, under the oversized canopy, the two-storey interior is visible at a single glance, as if the volume had been sliced open with a big knife, turning the inside out. The rounded, soft edges of the copper surfaces inside meet with the razor-sharp steel corners on the outside of the metal box, while the cave-like niches clad in brocade face the central space of the shop like loges in a theatre.

    “The shop on two tall storeys not only presents enticing goods on tables and in display cases; it is also like a spacious and comfortable home with inviting sofas and armchairs.”

    The façade has neither logo nor pomp; it is a polished, mirror-smooth surface, as if one single giant brushstroke had swept smooth the ordinarily matte surface of the steel panelled façade. This surface attracts the gaze and curiosity of passing pedestrians. But instead of affording a view inside, as in a shop window, the gaze is inverted; instead of the anticipated see-through window, viewers encounter self-reflection.

    Miu Miu in Aoyama Tokyo 415.

  • Prada 2014 profit falls for first time since listing as China, Europe weaken

    Prada 2014 profit falls for first time since listing as China, Europe weaken

    Italian luxury goods company Prada SpA reported its first drop in annual net profit since it listed in Hong Kong four years ago, as growing retail sales in the Americas and Japan failed to offset declines in Greater China and Europe.

    The company reported on Monday its 2014 net profit fell 28 percent to EUR450.7 million (USD489.8 million), slightly below forecasts, as overall annual sales dropped 1 percent. Asia-Pacific sales, which accounted for more than a third of the Milan-headquartered company’s business, also fell 3.1 percent.

    Like other luxury goods makers, Prada has seen weaker sales in China and Hong Kong amid a government crackdown on corruption, including bribery which often takes the form of lavish gifts to officials.

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  • China sinks Prada profit

    China sinks Prada profit

    Luxury retailer Prada Group has blamed China for a 28 per cent slump in profit last year.

    The Italian company says sales in its key Asia-Pacific market – which contributes 35.7 per cent of its global turnover – slid 3.1 per cent.

    This was largely due to the clampdown in corporate gift giving as China tries to reduce graft, and changing purchasing patterns in Hong Kong, which cashed up Chinese are spurning for other travel destinations.

    “Results in the region were hit by the negative performances recorded in Hong Kong and Macau. The Greater China area still benefited from growth on the [mainland] Chinese domestic market and ended the year with net sales of 774.1 million euros, a decrease of 6.3 per cent,” the company said.

    While Prada accounts for 81.2 per cent of the group’s sales, Miu Miu and Church’s both improved globally, while the smallest, Car Shoe, returned a sales drop of 11.9 per cent.

    Prada opened 21 new stores in Asia Pacific in the year to January 31 and closed three. Retail sales slid 5.5 per cent, but this was in part compensated for by a double digit growth in the wholesale division, largely due to increasing numbers of inbound tourists into South Korea. In the Americas, sales were up 0.9 per cent.

    In Europe, sales fell 4.9 per cent, but in Japan (which is not included in the Asia-Pacific figures) sales rose 7.9 per cent, despite store network rationalisation.   Prada said overall revenue for the year dipped by one per cent to 3.55 billion euros, while net income dropped to 450.7 million euros from 627.8 million euros a year earlier. Its operating margin was down from 31.9 per cent to 26.9 per cent, largely due to store openings.

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  • Prada South Korea opens men only store

    Prada South Korea opens men only store

    Prada has opened its first store in South Korea selling only menswear.

    The new shop is hosted inside the Shinsegae luxury department store in Seoul, but features its own distinctive entrances.

    The new space, designed by architect Roberto Baciocchi, covers about 165 sqm and houses the men’s ready-to-wear, leather goods, accessories and footwear collections.

    The internal façade, clad in Saint Laurent marble, is characterised by two large corner entrances. Slim strips of steel frame the window and the light box.

    The entrances lead to an area where the leather goods and accessories collections are displayed.

    The next area features masculine materials and finishes and hosts the ready-to-wear and footwear collections. The space is defined by ebony floorboards and walls, dark brown carpeting and cotto-coloured leather sofas.

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  • Prada Hong Kong opens 9th store

    Prada Hong Kong opens 9th store

    Prada Hong Kong has opened its ninth store – inside the prestigious Plaza 2000 in Causeway Bay.

    The space, designed by architect Roberto Baciocchi, covers a total area of 1320 sqm and features women’s and men’s ready-to-wear, leather goods, accessories and footwear collections three floors.

    Prada Plaza 2000 Hong Kong 315

    A stunning external facade pays tribute to French-Venezuelan artist Carlo Cruz-Diez. The large entrance, light boxes and windows are inserted into the lower part of the facade, which is clad in black marble and crowned by an imposing bronze and steel-coloured aluminium structure backlit to create a unique kinetic effect both day and night.

    Prada Plaza 2000 Hong Kong 1 315

    Overall, the facade stands 15 metres tall and stretches 45 metres in length on both sides of the building, located on the corner of Russel St and Canal Rd East.

    The entrance on the ground floor opens up on an area dedicated to the women’s leather goods, accessories and travel collections. The space is characterised by the signature black- and-white marble chequered flooring and green fabric-clad walls with alcoves heroing the product. Ultra-slim polished steel cases and display counters with drawers covered in coloured saffiano leather complete the furnishing.

    Prada Plaza 2000 Hong Kong 315 2

    An imposing black elevator leads to the upper floors.

    The second floor houses the women’s ready-to-wear and footwear collections. The area is defined by beige carpeting and green fabric-clad walls with polished steel-framed display niches. Transparent perspex display cases, crystal and steel tables and green velvet sofas enrich the space.

    Prada Plaza 2000 Hong Kong 2 315

    An elliptical black Marquinia marble staircase leads to the upper floor, where the men’s ready-to-wear, leather goods, accessories and footwear collections are displayed. The space wields masculine materials and finishes: ebony floorboards and walls, and palladium display counters. Ostrich leather sofas and lush pony skin carpeting in the area dedicated to footwear complete the setting and lend an elegant atmosphere to the entire floor.

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  • Prada Vietnam makes debut

    Prada Vietnam makes debut

    Italian luxury brand Prada has opened its first store in Vietnam – in Hanoi.

    Prada Vietnam has debuted in Hoan Kiem, the capital city’s premier shopping strip

    Designed by architect Roberto Baciocchi, the store covers a total area of 360 sqm on a single level and houses the women’s and men’s leather goods, accessories and footwear collections.

    The store is strategically located on the corner of one of Hanoi’s historic buildings overlooking the renowned August Revolution Square. White stone pillars and a series of windows and light boxes inserted into black marble volumes set the rhythm of the external façade.

    The entrance overlooking the square is enhanced by a large canopy extending over it. The interior comprises a succession of spaces, each featuring a different atmosphere.

    The area housing the women’s leather goods collection is defined by the signature black and white marble chequered flooring – a legacy of Prada’s identity worldwide – and green fabric-clad walls with cut-in niches exalting the display of the products.

    In the space dedicated to women’s small leather goods and accessories, black marble-clad walls create an elegant atmosphere. Polished steel display counters with drawers covered in coloured saffiano leather complete the furnishing.

    The area hosting women’s footwear is characterised by beige carpeting, green velvet sofas and walls with Prada’s iconic display niches. The space devoted to men features masculine materials and finishes: ebony floorboards and walls, dark brown carpeting and cotto-coloured leather sofas.

    Polished steel display cases and counters with drawers covered in coloured saffiano leather complete the setting.

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  • Prada opens new store in Auckland

    Prada opens new store in Auckland

    Prada recently opened a new store on Queen Street in Auckland, establishing a presence in the city’s prestigious shopping district.

    The new space, designed by architect Roberto Baciocchi, covers a total area of 350 square metres, spread over two floors, and houses the women’s and men’s ready-to-wear, leather goods, accessories and footwear collections.

    The external façade appears as a single large glass wall overlooking the street. The ground and first floor windows are framed by slim black marble profiles.

    The space dedicated to men features masculine materials and finishes: ebony floorboards and walls, palladium and crystal display cases defined by saffiano detailing in bright blue hues and light cotto-coloured leather sofas.

  • Prada opens third KL store

    Prada opens third KL store

    Prada recently opened its third store at The Gardens Mall in Kuala, Lumpur. Designed by architect Roberto Baciocchi, store covers a total area of approximately 390 square metres on a single level and houses the women’s and men’s leather goods, accessories and footwear collections as well as the men’s ready-to-wear collection.

    The area dedicated to the women’s collections has the signature black-and-white marble chequered flooring and green fabric-clad walls with polished steel display counters covered in coloured saffiano leather and green velvet sofas.

    Meanwhile, the space devoted to men discloses masculine materials and finishes. The first room, dedicated to leather goods and accessories, features black marble-clad walls with elegant polished steel display cases.