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Prada Japan Discounts Prices

12, March 2009

Beginning March 14th, Prada Japan will be discounting prices up to 10% on some of their most popular products. Prada bags will make up the majority of the items to be discounted, and 1/4 of the discounts will be geared towards clothing and other items. These discounts will be available at all 38 store locations in Japan. This marks the first time that Prada will discount such a wide range of items at one time. The discounts are in response to the current economic situation, as well as anticipation of a sales war between luxury retailers during the spring and summer seasons.

Prada bags make up about 60% of corporate sales revenue in Japan. The average price range for one of Prada's top-of-the-line bags is around 2,000 USD (200,000 JPY). Due to the current state of the economy, Prada has timed this sales event to coincide swith the introduction of their new spring/summer lines. They hope that this will stimulate consumption from customers who are currently holding off on purchasing luxury items. Prada also aims to remain in stiff competition with other foreign luxury retailers such as Louis Vuitton, who have already begun slashing prices.

March 12, 2009 Nikkei Net

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