MILAN — Prada SpA had a strong 2012 — and expects the momentum to continue this year.
The luxury brand reported a 44.9 percent increase in net profits in the year ended Jan. 31, touted confidence in the medium-term outlook and forecasted single-digit growth in 2013, despite challenging market conditions. During a conference call with analysts, chief executive officer Patrizio Bertelli stood by the company’s retail strategy, expressing confidence in the flow of tourists shopping globally and in further growth in China while underscoring the need to continue to make interesting product.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"