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Prada Group Wants Customers to ‘Spend More on Their Dreams’

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Prada Group Wants Customers to ‘Spend More on Their Dreams’

CEO Andrea Guerra addressed the unusually warm weather, brand desirability and capturing the interest of both wealthy and new customers while turning in a solid nine-month performance for the group.

MILAN — After Prada Group turned in a solid nine-month performance, group chief executive officer Andrea Guerra focused analysts on the importance of brand desirability, the business’s ability to interest both wealthy and new customers and the impact of unusually warm weather.

“We could discuss at length how many different things are happening, ups and downs, different tourist flows and the weather. In a quarterly conversation, it’s beginning to be complicated to say if you’re doing well [or not] so I think the nine months are becoming more and more important in the longer term,” Guerra said during a conference call. “In any case, what is important today is that you are constantly able to show how desirable your brands are, how proactive you are in the market and what level of conversation you’re able to keep with your best customers. Life has changed, and I think we are ready for this.”

The numbers backed Guerra’s stance. In the nine months ended Sept. 30, group revenues rose 12 percent to 4.54 billion euros compared with 4 billion euros in the same period last year.

Excluding Versace, which contributed with sales of 441 million euros, sales were up 4 percent in constant currencies.

In the third quarter, group revenue climbed 11 percent at constant currency.

“The clear pattern is that the more affluent clients are in great shape.


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