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Prada to open new stores in MENA: CEO

24 May 2012

(MENAFN) Prada’s CEO, Patrizio Bertelli, announced that by 2015, the fashion firm will launch 260 stores worldwide, including stores in Morocco, Beirut, Dubai, Qatar and Istanbul, reported Arabian Business.

Bertelli added that in order to meet strong demand for the company’s products; the firm will also open stores in China, which will see the launch of between 12 to 15 new stores in 2012.

He said that the Milan-based company, which owns the Miu Miu and Church’s brands, forecasts sales in the Asia Pacific in 2012 and 2013 to represent 40 percent of the company’s total sales, compared with 35 percent in 2011.

It is worth noting that Prada may raise prices by 10 percent in Europe if the euro continues to decline in order to preserve the same value.

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