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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Prada S.p.A.    1913   IT0003874101

PRADA S.P.A.

(1913)
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Prada S p A : THE PRADA GROUP ANNOUNCES FUR-FREE POLICY AND JOINSTHE INTERNATIONAL FUR FREE RETAILER PROGRAM

05/22/2019 | 11:08am EST

press release

THE PRADA GROUP ANNOUNCES FUR-FREE POLICY

AND JOINSTHE INTERNATIONAL FUR FREE RETAILER PROGRAM

Milan, May 22nd, 2019 - Today, the Prada Group has announced that it will no longer use animal fur in its designs or new products, starting from SS2020 Women's collections. The inventory will be sold until quantities will be exhausted. In collaboration with the Fur Free Alliance (FFA), a coalition of more than 50 animal protection organizations from over 40 countries, the Prada Group announcement follows positive dialogue between the luxury brand and FFA members, LAV and The Humane Society of the United States.

"The Prada Group is committed to innovation and social responsibility, and our fur-free policy - reached following a positive dialogue with the Fur Free Alliance, in particular with LAV and the Humane Society of the United States - is an extension of that engagement," said Miuccia Prada. "Focusing on innovative materials will allow the company to explore new boundaries of creative design while meeting the demand for ethical products."

"The Fur Free Alliance applauds the Prada Group for going fur-free", said Joh Vinding, Chairman of the Fur Free Alliance. "The Prada Group with its brands now joins a growing list of fur-free brands that are responding to consumers' changing attitudes towards animals."

"The Prada Group's decision to go fur-free is consistent with the new concept of ethical luxury and meets the expectations of new consumers who are more careful in choosing sustainable products that respect the environment and animals," said Simone Pavesi, manager of the Animal Free Fashion Area for LAV.

"With the Prada Group's fur-free announcement, one of the biggest names in fashion just became a leader in animal welfare and innovation for generations to come," said PJ Smith, director of fashion policy at The Humane Society of the United States.

Brigit Oele, program manager for Fur Free Alliance, said: "Prada Group was one of the fastest companies to go fur-free once positive dialogue began a little more than a year ago. The Fur Free Retailer Program includes 1,000 companies, showing that this global movement is gaining momentum fast, and it's very unlikely that fur will ever return as an acceptable trend. This is a great day for animals!".

For further information:

Prada Press Office

Tel. +39.02.567811

e-mail:corporatepress@prada.com www.pradagroup.com

LAV Press Office Maria Falvo

Tel. +39.06.4461325 email: ufficiostampa@lav.it

The Humane Society of the United States Press Office

Emily Ehrhorn

Tel. +1.301.258.1423

email:eehrhorn@humanesociety.org

PRADA Group

The PRADA Group - HKSE Code 1913 - is a global leader in the luxury goods industry, where it operates with the Prada, Miu Miu, Church's and Car Shoe brands in the production and distribution of handbags, leather goods, footwear, apparel and accessories. The Group also operates in the food sector with Marchesi 1824, and in the eyewear and fragrance industries under licensing agreements. Its products are sold in 70 countries worldwide through 634 directly operated stores as of December 31, 2018 and a selected network of luxury department stores, multi-brand stores and franchise stores.

LAV

Since 1977 LAV has been fighting the battle for animal liberation, for the rights of non-human animals and for the protection of the environment. Through the activities of its Animal Free Fashion Area, LAV supports the development of an entirely "Animal Free" fashion, dialogues with companies with the aim of making "the animal issue" one of the priorities of corporate social responsibility.

LAV unites about 50,000 people (members and supporters), and can count on 60 local teams and the support of hundreds of thousands of followers. www.lav.it - www.animalfree.info

The Humane Society of The United States

The Humane Society of the United States is the nation's largest animal protection organization, rated the most effective by our peers. For 60 years, we have celebrated the protection of all animals and confronted all forms of cruelty. We are the nation's largest provider of hands-on services for animals, caring for more than 100,000 animals each year, and we prevent cruelty to millions more through our advocacy campaigns. Read more about our 60 years of transformational change for animals, and visit us online at humanesociety.org.

Fur Free Alliance

The international coalition of over 50 organizations for animal protection, which work together to put an end to the exploitation and killing of animals for their fur. The FFA represents millions of supporters throughout the world.

Run in over 30 countries the Fur Free Retailer program is an international initiative of the Fur Free Alliance, and it is the world's leading program to connect fur-free companies to consumers seeking ethical goods. www.furfreealliance.com - www.furfreeretailer.com

Attachments


© Publicnow 2019
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Sales 2020 2 531 M 3 016 M 3 016 M
Net income 2020 -45,9 M -54,7 M -54,7 M
Net Debt 2020 607 M 723 M 723 M
P/E ratio 2020 -234x
Yield 2020 0,16%
Capitalization 10 325 M 12 298 M 12 301 M
EV / Sales 2020 4,32x
EV / Sales 2021 3,49x
Nbr of Employees 13 669
Free-Float 20,0%
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 3,52 €
Last Close Price 4,03 €
Spread / Highest target 13,4%
Spread / Average Target -12,7%
Spread / Lowest Target -36,5%
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Managers
NameTitle
Patrizio Bertelli Co-Chief Executive Officer & Executive Director
Miuccia Prada Bianchi Co-Chief Executive Officer & Executive Director
Carlo Mazzi Chairman
David Terracina Chairman-Supervisory Board
Alessandra Cozzani Chief Financial Officer & Executive Director
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