Prada’s FY15 profits struck by Asian slowdown

Luxury Italian conglomerate Prada SpA has seen its profits take a hit once more, as the slowdown in demand in Asia - particularly China - struck its profits for its fiscal year 2015. The group has reported its lowest profit in five years, as pressure on Chief Executive Officer Patrizio Bertelli to turnaround things for the company’s luxury fashion brans continues to mount.