Prada increased its net profit by 44.9% last year. It plans to open 12 new stores in China this year.

Prada, the luxury goods group, held its first shareholders’ meeting in Milan recently. Since its listing in Hong Kong in 2011, the group’s annual shareholders’ meetings have been held alternately in Hong Kong and Milan. In 2012, the Group recorded the best performance ever, with a net profit of 625.7 million euros, an increase of 44.9%, and a turnover of 3.297 billion euros, an increase of 29%.

Patrizio Bertelli, president of the group, stated that “the reason for Prada growth is that we spend a lot of time researching and analyzing the market, and we also rely on Miuccia Prada's unremitting efforts to achieve continuous updating of products instead of stereotypes.” The group plans to open nearly 80 stores this year.

The new store will include opening a flagship store in Milan and adding 12 stores in China.

The group entered the Chinese market in 1985 and currently has a total of 20 stores in the region. Patrizio Bertelli said, "This is only half the number of our competitors, which also shows that we still have great potential for development in this market, just as in other parts of Asia, all over the world, in the Americas, North Africa and the Middle East." .

However, he has reservations about e-commerce channels. In his view, this "has worked well in the United States because local laws allow consumers to return goods within one month of shopping, even if they have already used it." He also denied the possibility of acquiring a new company.

The Group also did not intend to plan to list in Milan at the same time after Hong Kong. He said that "Hong Kong is enough. The simultaneous listing of the two places will complicate management."