China’s clampdown on corruption and its sharp economic slowdown

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Replica Prada Bags The Milanese fashion house said net revenue totaled 3.55 billion euros ($4 billion) in the year to Jan. 31. Sales in Asia Pacific fell 16 percent at constant exchange rates, and even including a boost from currency effects, revenue in the region dropped 4 percent.Prada Cheap Prada Bags, best known for handbags retailing for as much as 6,000 euros Cheap Prada Bags, has seen earnings slump in recent quarters, hurt by a lack of new models along with costly investments in new shops in the face of softening demand for luxury goods.China’s clampdown on corruption and its sharp economic slowdown have clouded the outlook for luxury brands, while global political and security tensions have impacted tourism in some markets and added to the pain.”The economic situation of the Chinese market remains negative although there was some improvement in the final quarter Cheap Prada,” the group said in a statement.The strength of the dollar lifted the value of sales in North America, but affected tourist flows, so at constant currencies revenue there fell 9 percent Replica Prada Bags.


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