The Italian fashion house Prada, just like several other luxury brands, is now experiencing a significantly tougher economic climate than before. Third-quarter sales came in at 1.11 billion euros, worse than expected, and flagship brand Prada posted 5 percent growth compared to 15 percent in the previous quarter.
In the past, among others, the French conglomerate Kering, owner of Italian Guccie as well as LVMH have noted exactly the same negative trend.