Prada climbs as luxury brand looks to double China business in medium term

Prada SpA

07/12/2023 07:45

**  Hong Kong shares of Italian luxury brand Prada  1913.HK 
climb 2.8% to HK$43.70, snapping two sessions of decline
    ** Stock on track for the biggest one-day pct rise since
Nov. 22, if gains hold 
    ** Prada is looking to double its business in key luxury
market China, Chief Executive Gianfranco D'Attis said on
Wednesday, even as the country faces slowing growth in luxury
demand and significant economic headwinds
    ** Hang Seng Consumption Index  .HSCGSI  falls 1.1%, Hang
Seng Index  .HSI  down 1%
    ** Stock down 2.8% YTD 

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))