Milan, Italy. Italian Fashion group Prada states that it remains confident of succeeding in a difficult economic climate; noting a 45% increase in net income to 625.7 million euros ($809 million) from 431.9 million euros a year earlier, exceeding analysts expectations by more than €7 million. The announcement comes as Prada joins Hermes and Dior in the policy of cutting discounts.
Prada’s move to limit markdowns and increased store presence has been credited in the increase in earnings. The group remains confident that the company’s strategy will remain a key success factor in the forthcoming fiscal year having huge opportunities in the Asian region where the group is under-penetrated.
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