SHANGHAI, Dec 6 Reuters Prada is looking to double its business in key luxury market China, Chief Executive Gianfranco D39;Attis said on Wednesday, even as the country faces slowing growth in luxury demand and significant economic headwinds.
We have a lot of ambitions here in China, to double our business in the upcoming midterm future. And with that comes also increasing our investments, D39;Attis told reporters in Shanghai.
He did not give an exact timeframe for the ambition but said increased investments would not necessarily mean a major uptick in the number of stores opening across the country.
Not only the number of stores is important to us, but the quality of stores, bigger stores with more categories, with more localized products, with more experiences, with more hospitality, more events, more special capsules, he said.
D39;Attis, a former Dior executive who took the helm at Prada in January, was speaking at a preview of the brand39;s Pradasphere II exhibition in Shanghai. This is the second iteration of a concept that first showed in London.
As well as a deep dive into the brand39;s archive and identity, Pradasphere II, which is showing at a museum on Shanghai39;s Huangpu River, also includes a Pradathemed cafe and a gift shop in a repurposed train parked alongside the museum.
According to D39;Attis, this likely won39;t be the last time fans of the brand in China get to enjoy something like the Prada cafe, which boasts premium Italian coffee….