On the 8th, the Prada Group announced its interim consolidated financial results for the first half of fiscal year 2013. Group sales totaled 1.727 billion euros (approximately 222 billion yen), up 11.6% from the previous year.

Sales from directly operated stores totaled 1.422 billion euros (approximately 183 billion yen), up 15.6% from the previous year. This was due to strong performance from existing stores and new store openings. Wholesale sales fell 3.5% due to a group-wide strategy that reduced the number of partners by more than 100.

By region, Asia saw a 17.7% increase, particularly in China; the United States saw a 13.5% increase thanks to strong retail business; and Europe saw a 5.7% increase thanks to strong sales to tourists. Japan recorded a 16.4% increase at constant exchange rates, but due to the significant depreciation of the yen, this was barely reflected in sales when converted to euros.

By brand, Prada saw increases of 14.3%, Miu Miu 3.7% and Church 5.1%. Car Shoe saw a decrease compared to the previous year due to a contraction in the wholesale business.

In addition, to expand its retail business, 30 new directly operated stores were opened this quarter, bringing the total to 491 stores as of July 31st. By brand, Prada had 301 stores, Miu Miu 133 stores, Church 49 stores and Car Shoe 8 stores.

"We will continue to achieve efficiency in all areas, maintain high quality and develop new products to expand our international retail business," said Patrizio Bertelli, Group CEO.