Prada’s Profit Dropped 28% in 2014
Prada’s net profit dropped 28.2 percent in 2014 to 450.7 million euros, or $589.5 million. The decrease is partly because of poor sales in the Far East. Prada plans to open fewer stores and introduce more bags priced in the range of 1,000 euros to 1,200 euros in order to strengthen revenue. The company plans to open a net 30 stores this year, compared with the 54 it added in 2014. In February, Prada reported that revenue fell 1 percent to 3.55 billion euros.
Rachel Zoe Ventures Invests in Bringhub
Rachel Zoe Ventures is part of a group of investors who contributed a total of $1.6 million to Los Angeles-based software start-up, Bringhub. Bringhub’s software lets digital-media companies add shopping-cart capabilities to its sites, which means consumers will be able to buy products from blogs, social networking sites and online magazines, for example, without being transferred to another website. The Zoe Report is in the process of implementing Brunghub’s shopping-cart on its site so that readers can shop recommended products without being redirected to another retailer to complete their purchase.
Glamour U.K. Launches Online Beauty Boutique
The U.K. edition of Glamour magazine reported that it will partner with feelunique.com to launch its own online beauty store: Glamour Beauty Boutique. The site will go live this summer, said Jamie Jouning, publishing director of Glamour. Feelunique.com “will bring its expertise in beauty e-commerce to this exciting partnership, ensuring that Glamour’s readers will have the very best beauty shopping experience available,” said Jim Buckle, feelunique.com’s chief operating officer.
– Kelcie McCurdy
Sources: WWD, Bloomberg
Today's Fashion Headlines: Prada's Profit Dropped, Rachel Zoe Ventures Invests in Bringhub, Glamour U.K. Beauty Boutique
March 30, 2015