Miu Miu Reports Lowest Profit in Five Years

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Prada SpA reported its lowest profit in five years on ebbing demand in Asia and said it’s impossible to make any forecast this year, increasing the pressure on Chief Executive Officer Patrizio Bertelli to revive the Italian fashion company’s brands.

Net income fell 27 percent to 330.9 million euros in the year through January, the maker of Miu Miu replica handbags and Church’s shoes said Friday in a statement. Analysts had estimated 348 million euros. Profit has missed forecasts in 11 of the past 12 quarters.

“What they have to do is basically relaunch the Miu Miu Outlet brand,” said Mario Ortelli, an analyst at Sanford C. Bernstein.

Prada has become the poster child for the luxury sector’s woes. Sales fell 16 percent in Asia, its largest market, excluding currency swings. Prada has been hurt by collapsing demand in China, the strong dollar and terror attacks in Europe. Its chief financial officer quit in February after more than a decade at the company. The shares have fallen more than 40 percent in the past year and at HK$25.65 are below their 2011 initial public offering price of HK$39.50.

Not all fashion brands are suffering. Gianni Versace SpA has reported a 20 percent surge in earnings for last year and Chief Executive Officer Gian Giacomo Ferraris said last month that he’s cautiously optimistic for this year.

Prada’s inventory of finished products rose 7.6 percent to 614 million euros at the end of 2016. Sales growth hasn’t kept up as Prada replica has been adding more stores, eroding profitability as rent and personnel costs increase. Sales of leather goods declined almost 10 percent at constant exchange rates.

Prada will host a conference call from New York on Monday.

UK Miu Miu Outlet Spring/Summer 2016 Ad Campaign

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Miu Miu just revealed its spring/summer 2016 ad campaign, which was shot by Steven Meisel.

Miuccia Prada tapped budding models and actresses Millie Brady, Julia Garner and Matilda Lutz, and artist India Salvor Menuez, for the awesome SS16 images. The portrait-like shots were taken against a neutral gray background, but they are cropped and asymmetric.

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“It”-girls Hailee Steinfeld, Lupita Nyong’o, Mia Wasikowska and Elizabeth Olsen have all previously starred in ads for Miu Miu Outlet, according to Fashionista.

The Italian fashion company’s two-level store takes up 5,435 square feet and is located at 190 NE 39th Street. The luxurious design features floor-to-ceiling mirrors on the ground floor, a black marble staircase and gold damask-lined display cases.

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The bottom floor sells Miu Miu replica handbags, accessories and shoes, while the second level features women’s ready-to-wear pieces.

Back in 2009,  replica Miu Miu opened boutique at Florida’s Bal Harbour Shops.

Click through the slide show above to see images of Millie Brady, Julia Garner, Matilda Lutz and India Salvor Menuez in Miu Miu’s newest ad images.

Additionally, the following month, actress Stacy Martin was tapped by cheap Miu Miu to front its first-ever fragrance ad campaign. The images were also photographed by Meisel.

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The actress recently starred in Lars von Trier’s film “Nymphomaniac,” and she is “Miu Miu personified,” according to a press release.