Prada says not give good marks behind
MILAN / HONG KONG (Reuters) - from Italy Prada <1913.HK> sees growth potential in its small brands that have continued in the first quarter of the power of his fashion label's delay, the company announced Tuesday.
Net sales for their flagship brand Prada rose by 18 percent over the same quarter of 2012 to € 638.8 million (£ 540.78 million), mainly driven in retail sales in Greater China and America.
This growth has been difficult for other names held by the Group - Miu Miu and Car Shoe and much worse marks of the Church.
Sales at Miu Miu, named after Miuccia Prada President, rose 5 percent in the three months to the end of April, underperforming the potential of the brand Prada Chief Financial Officer Donatello Galli told a conference call.
"We do not believe that this year, due to market conditions, a turning point for Miu Miu is his element. We need a little more patient," Galli said.
Analysts say the growth of Miu Miu by the fact that he is best known in the recession Europe rather than America and Asia Pacific, where the group grew by more than 20 percent disabled for the first quarter.
"The core brand is incredibly good, and they have to Miu Miu develop," said Mario Ortelli, an analyst at Bernstein Securities.
Prada has said that it plans to hold its next spurt focus extensively on the Middle East, and North and South America, to offset the decline in spending in Europe and reduce the dependence on Asia, where rapid growth stabilized.
Galli said Prada Car Shoe and Church hold - for 2 and 1 percent of sales in the first quarter accounted for - as "options" for future growth.
"They are an opportunity for future expansion," Galli said. "For now, they will remain so." ($ 1 = € 0.7579)
(Reporting by Isla Binnie in Milan, Donny Kwok in Hong Kong, Tripti Kalro Bangalore, ranked by Chyen Yee Lee and Tom Pfeiffer edited)