Understanding the Market | PRADA once fell more than 9%, Miu Miu's CEO to join Dior

PRADA once fell more than 9%, as of the time of publication, it has fallen by 5.2% to HKD 51.05, with a turnover of HKD 23.1235 million. On the news front, it was reported that on September 2nd local time, Dior, a luxury brand under the LVMH Group, announced the appointment of Benedetta Petruzzo, former CEO of Miu Miu under PRADA, as the Managing Director, effective from October 15th. She will succeed Charles Delapalme, who will take on other important roles within LVMH. It is reported that Benedetta Petruzzo joined Prada in 2020 and was mainly responsible for the fastest-growing brand Miu Miu. PRADA's interim results show that retail sales of the Prada and Miu Miu brands grew by 5.5% and 92.7% respectively in the first half of the year