Prada has released impressive sales figures for the last year.

The Italian fashion brand has seen net profits grow by a staggering 63% to £52 million with sales rising to 8.2 % to £1 billion.

Prada chief executive officer Patrizio Bertelli (and husband to Miuccia), told WWD.

"The investments in retail we are making in 2007 will allow a further acceleration of our businesses on the most important fast-growing markets."

"We can be confident as we look forward, also with a view to a potential initial public offering in the near future."

The brand stated that Diffusion line Miu Miu also added a hefty weight to the figures, with sales rising more than 22 per cent.

Bertelli added:" The company's performance is on target in terms of both revenues and profitability. Our brands are strengthening their trendsetting positions in fashion and luxury all over the world."

Patricia Johnson

Tagged in