Milan-based Prada, famous for its luxury bags and clothes, also benefited from a surge in online sales. Last year, Prada launched e-commerce in new key markets and revamped the Prada website. “We are just at the beginning of our growth trajectory and there is still a huge potential to unlock,” said marketing head Lorenzo Bertelli, son of Prada’s founders Miuccia Prada and Patrizio Bertelli, who are co-chief executive. Chief Executive Bertelli said Prada had responded quickly to market changes, strengthening the relationship with local customers whose consumption in the second half of the year almost fully offset the absence of tourists. “All of these initiatives led to a full recovery in the second half to pre-pandemic profitability levels,” he said in a statement.

Source: The Standard March 11, 2021 03:45 UTC