Prada SpA, the struggling Italian luxury-goods maker listed in Hong Kong, plans to introduce more lower-priced handbags and double its online business as it seeks to reverse two years of stagnant
replica handbags sales. The Milan-based company will also close stores and narrow the spread on prices of new products between regions to about 10 percent, Strategic Marketing Director Stefano Cantino said in an
dior replica investor presentation Monday in New York. Prada needs to kick-start growth after posting its lowest profit in five years. While all luxury-goods companies have been hurt by collapsing demand in China, the strong dollar and the
gucci replica handbags terrorist attacks in Europe, the Italian company has been hit harder than most. That's partly because its handbags are too expensive and it's been too slow to invest online, according to Sanford C. Bernstein analysts. Prada plans to
rolex replica double its e-commerce sales over the next two years by increasing the number of categories it offers online, particularly shoes, and expanding its social media activities, Cantino said. Prada doesn't plan to sell clothing over the Internet, preferring instead to direct consumers to the company's 618 stores, he said. It will be on Snapchat Inc. by October, the executive said.
