Prada is making a statement in the rapidly expanding Asia-Pacific market with plans to stage a fashion show in Beijing on Jan. 22.
The region has become increasingly relevant for the Italian luxury goods firm, showing a 51 percent surge in revenues in the first nine months of this year.
Designer Miuccia Prada will revisit her spring collection for the Beijing runway show and incorporate a series of new items created especially for the event. Patrizio Bertelli, chief executive officer of the company and Miuccia Prada’s husband, is also expected to attend.
Given the performance of Prada in the Asia-Pacific region, speculation has been mounting that the brand might be mulling a listing on the Hong Kong Stock Exchange. Carlo Mazzi, Prada’s vice president, said last month that “when you have to raise funds, you look around and you go and raise them where the offer is more attractive. Money has no country. Where there is a larger availability of money, that’s where we will go and collect money, but we will use it in Italy.”
Mazzi, however, said no decision has been made on the location of an offering. After canceling plans for an IPO several times over the past few years, Prada is exploring a listing in order to capitalize on its surging profits and sales. Prada has said the IPO will likely take place in the second half of next year, depending on market conditions.
“China is the country that is developing at the quickest pace compared to the rest of the world,” a company spokesman said, adding that “major events” are planned in the Asia-Pacific area in 2011. The company intends to open 17 stores in China next year and another 11 in 2012.
In the nine months ended Oct. 31, Prada reported net profits spiked 205.8 percent to 156 million euros, or $206 million, compared with 51 million euros, or $69.3 million, in the same period last year.
Dollar figures are converted at average exchange rates for the periods to which they refer.
In the year-to-date period, the group’s global sales grew 31 percent to 1.38 billion euros, or $1.82 billion. Retail sales gained 44 percent, or 23 percent on a like-for-like basis, while wholesale sales rose 9 percent.
Prada follows other Italian fashion brands that have been staging high-profile events and shows in China and other parts of Asia.
In October, Tod’s introduced the iconic Italian opera house La Scala to China as part of its partnership with Milan’s prestigious theater. Diego Della Valle, the company’s chairman and ceo, threw an exclusive cocktail and dinner party in Beijing, followed by a special pas de deux performed by prima ballerina Sabrina Brazzo and lead dancer Marco Messina.
In July, Ermenegildo Zegna marked its centennial celebration with a fashion show and a party in Shanghai, and in June, Salvatore Ferragamo held a show in Hong Kong at the Bank of China Tower.
Three years ago, Karl Lagerfeld and Fendi staged a sunset show on the Great Wall of China just outside Beijing, followed in November 2008 by Donatella Versace, who held a fashion show, followed by an auction and a dinner in Beijing, to raise funds for the Versace/One Foundation.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty