Prada has witnessed a strong recovery in its sales in China since shops reopened and the launch of several successful online marketing campaigns.
“To date, we are well above last year’s levels, showing double-digit growth since the beginning of the year.”Patrizio Bertelli, Chief Executive of Prada Group, in an email statement
Bain & Company predict that the pandemic could cause overall sales in the global luxury industry to fall by up to 35% in 2020. However, the luxury industry has already started recovering in China.
Bertelli said that sales in China had accelerated since the end of March, with growth of up to more than 60% in the following months. Prada’s sales for Qixi, China Valentine’s Day, which fell on August 25, hit an all-time record for the company. Bertelli said that he “believes that the same trend can be maintained in the coming months”.