Changes in Hong Kong stocks | Prada (01913) continues to fall by more than 3%, luxury goods giant LVMH's sales in the first quarter fell short of expectations, and the company spent US$1.375 billion to buy all Versace

The Zhitong Finance App learned that Prada (01913) continued to fall by more than 3%, and the stock fell nearly 9% during the intraday session yesterday. As of press release, it decreased by 3.41% to HK$45.35, with a turnover of HK$7.8983 million.

According to the news, on April 15, French luxury goods giant LVMH released its results report for the first quarter of 2025. Sales for the first quarter fell 3% to 20.31 billion euros, far below the 2% increase expected by the market. According to reports from international consulting firm Bain, the global luxury customer base shrank for the first time in 2024, losing about 50 million customers. However, under the influence of Trump's equal tariff policy, the luxury goods industry's market share may continue to shrink.

Furthermore, Prada recently announced that it plans to acquire Italian fashion brand Versace (Versace) at a price of 1.375 billion US dollars. According to Capri Group's 2024 fiscal year report, Versace's revenue was $1.03 billion, down 6.9% year over year, and profit margin was only 0.4%. In the third quarter of fiscal year 2025, Versace's sales declined sharply, dragging down Capri Group's third-fiscal quarter revenue by 11.6% year-on-year, with a net loss of $547 million after accounting for non-cash impairment charges.