Prada (01913) rose more than 6% in early trading. As of press release, it had risen 5.16% to HK$55.05, with a turnover of HK$24.963,500.
The Zhitong Finance App learned that Prada (01913) rose more than 6% in early trading. As of press release, it had risen 5.16% to HK$55.05, with a turnover of HK$24.963,500.
According to the news, L'Oréal Group and Prada Group have signed a global long-term license agreement to create, develop and distribute luxury beauty products for the Miu Miu brand. Following a successful partnership with the Prada brand, Miu Miu has now joined L'Oréal's premium cosmetics division. According to reports, the first batch of L'Oréal's Miu Miu perfumes is expected to be launched in 2025. CMB International previously stated that it is still optimistic about the room for Prada and Miu Miu to increase their market share in the future.
CITIC Securities (Hong Kong) said 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.