MILAN — Prada SpA on Tuesday added its name to the list of luxury firms blighted by the economic downturn, reporting a 22 percent drop in earnings in fiscal 2008.
For the 12 months through Jan. 31, net profits at the Italian fashion group, which owns the Prada, Miu Miu, Car Shoe and Church’s brands, fell to 98.8 million euros, or $144.2 million, from 126.8 million euros, or $173.8 million, in fiscal 2007.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)