Prada says May sales are up 10 percent in China

Prada is seeing a rebound in sales as it saw an increase of more than 10 percent in China this month.

But while the Chinese market is rebounding, sales in Europe are lagging, specifically in the luxury sector which depends on visitors.

In a television interview with Bloomberg, Prada’s chief executive Patrizio Bertelli said: “The European market is heavily dependent on tourism. Tourism will pick up again when a vaccine will be developed.”

When asked about the company’s listing on the Hong Kong stock exchange, Bertelli said: “Our job is focused on brand development, we are not at all thinking about delisting the company. We are working on new products, on expanding our sale network, on making the most of digital technology.”

Image: Prada SS20 campaign via Prada.com