Prada Take out €360 Million Loan to Fund Growth

 Prada have announced plans for expansion which has become possible because the company has taken out a loan for €360 million euros.
The three-year loan has helped the company refinance their debt, which totals €640 million Euros.

Prada Autumn/Winter 2010

According to the intercorporate vice president at Prada, Armando Branchini, things are looking up for the company, and this loan will help them boast sales now that they are peaking:

"Prada is currently undergoing a very positive sales growth, and I believe that by 2013 the return of the company's retail investment will outdo this loan, especially with today's cost of money".

The company are hoping to expand by opening a possible 30 new stores in the future, an incentive which has already begun in Europe with the launch of new stores in Frankfurt, Prague, Berlin and Lisbon. They hope to also branch out into the Asia-Pacific region in hopes of boasting their sales further.

Prada currently have 280 boutiques in 76 countries worldwide.