THE £560 TRAINERS BOOSTING PRADA SALES

ITALIAN fashion house Prada is hoping a new range of £560 trainers will continue to boost sales after its performance flagged last year.

Sales at the Milan firm dipped 3.6pc in 2017 to £2.8bn as the brand fell out of fashion with US and Japanese customers.

Earnings at the luxury firm came in at £522.6m, declining by 10pc compared to 2016. But the company said sales had improved during the second half of 2017, in part due to the launch of a new range of trainers. Called Cloudbust, they are available for men and women and sell for up to £560. Demand for Prada’s goods from Chinese consumers also improved.

Prada is aiming to grow its online business from 5pc to 15pc of overall sales by 2020 as it increasingly targets younger shoppers.