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Prada CEO Says it Aims to Double Business in China in Medium Term

A mannequin is pictured in a giant ornament in a Christmas display window at the Prada store on on 5th Avenue in Manhattan in New York City, US, December 5, 2023. REUTERS/Mike Segar
A mannequin is pictured in a giant ornament in a Christmas display window at the Prada store on on 5th Avenue in Manhattan in New York City, US, December 5, 2023. REUTERS/Mike Segar
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Prada CEO Says it Aims to Double Business in China in Medium Term

A mannequin is pictured in a giant ornament in a Christmas display window at the Prada store on on 5th Avenue in Manhattan in New York City, US, December 5, 2023. REUTERS/Mike Segar
A mannequin is pictured in a giant ornament in a Christmas display window at the Prada store on on 5th Avenue in Manhattan in New York City, US, December 5, 2023. REUTERS/Mike Segar

Prada has ambitions to double its business in China over the medium term, Gianfranco D'Attis, chief executive of the Italian luxury fashion house's flagship brand, said on Wednesday.
"That means increasing our investments," D'Attis said in a group interview in Shanghai.
Prada will have bigger stores, more local products and more events in China, he added.
D'Attis, a former Dior executive who took the helm of the Prada brand in January, also said that it hoped to develop a hospitality concept as part of its worldwide distribution strategy, including in China, possibly in 2024-2025, Reuters reported.
The group, whose brands also include classic English shoemaker Church's, reported a 10% rise in third quarter revenues in November, saying that a strong performance in Asia and Europe helped to compensate for weakness in the Americas.

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Pandora’s 2024 Operating Profit Growth Now Seen at Upper End of Guided Range

Pandora said it now expects full-year organic operating profit growth of between 11% and 12%. (Getty Images for Pandora Jewellery)
Pandora said it now expects full-year organic operating profit growth of between 11% and 12%. (Getty Images for Pandora Jewellery)
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Pandora’s 2024 Operating Profit Growth Now Seen at Upper End of Guided Range

Pandora said it now expects full-year organic operating profit growth of between 11% and 12%. (Getty Images for Pandora Jewellery)
Pandora said it now expects full-year organic operating profit growth of between 11% and 12%. (Getty Images for Pandora Jewellery)

Denmark's Pandora , the world's biggest jewellery maker, said on Wednesday it now expects operating profit growth this year at the upper end of its forecasted range while it reported quarterly operating profit a tad below forecasts.

"We are very pleased with our strong results this quarter, particularly in the context of the current macroeconomic backdrop," CEO Alexander Lacik said in a statement.

Operating profit rose to 980 million Danish crowns ($140.87 million) in the third quarter from 920 million a year earlier, slightly below the forecast of 991 million in a company-compiled poll.

Pandora said it now expects full-year organic operating profit growth of between 11% and 12% compared to its previously guided range of 9-12%. The company also raised its outlook in May and August.

It still expects an operating margin this year of around 25%.