Prada (01913) fell more than 4% in early trading. As of press release, it was down 4.12% to HK$53.5, with a turnover of HK$374.34,200.
The Zhitong Finance App learned that Prada (01913) fell by more than 4% in early trading. As of press release, it fell 4.12% to HK$53.5, with a turnover of HK$374.34,200.
According to the news, on February 23, Lorenzo Bertelli, the successor of the Prada Group, denied recent news that “the Prada Group may be acquired by the French luxury goods company Chanel” and called it a rumor. Earlier, it was reported that the Wertheimer family, which holds Chanel, is interested in acquiring the Prada Group, and that family representatives met Prada Group founders Miusia Prada and Lorenzo Bertelli at the end of last year.
CITIC Securities (Hong Kong) recently stated that 2023 will be a year for the luxury goods industry to return to normal, and industry leaders have performed better than expected. Companies such as Swiss Richemont, LVMH, and Hermès performed well, mitigating market concerns about deleveraging and returning industry valuations above the long-term average. The personal luxury goods market is expected to grow by 5% in 2024, with Chinese customers growing at 10%. However, overall growth was biased in the second half of the year, and the first quarter of 2024 is likely to be a low point in sales growth.