Prada sales bounce back to pre-crisis levels
Frustrated shoppers are driving a rebound at Prada.
The Italian fashion house gave an unexpected update on trading Tuesday (January 18).
It says group sales last year rose 41% to just over $3.8 billion.
That beat forecasts and put them back above pre-crisis levels.
The gains come as pent-up demand for luxury clothes and bags is unleashed.
It also suggests that a revised strategy is starting to pay off.
Prada is trying to push further upmarket, and increase its online sales.
The firm says core profits benefited from a commitment to selling goods at full price.
Back in November the family-owned company set a medium-term sales target of 4.5 billion euros - or just over $5 billion.
That month also saw chief executive Patrizio Bertelli say he was likely to hand over the reins to his son in three or four years.
