Consumer
Prada Rides Luxury Boom While Mass Retailers Struggle as Chinese Demand Flags
- Japan projected to be Prada’s fastest-growing region again
- JD.com may see slow revenue growth as competition intensified
A Prada store in Shanghai.
Photographer: Raul Ariano/BloombergThis article is for subscribers only.
Prada SpA should confirm the resilience of demand for luxury brands in Asia when it reports earnings, shrugging off lukewarm consumer sentiment in China.
Japan has been among the world’s strongest luxury markets as a weaker yen attracted tourists looking for bargains and domestic demand remained solid. Strong earnings at LVMH Moët Hennessy Louis Vuitton SE, Richemont and Hermes International SCA were all underpinned by growth in Japan. Luxury sales across Asia also held up, defying the sector-wide cyclical downturn as Chinese shoppers hold back and growth slows in other key markets.