Prada to bolster e-commerce and retail in a bid to stem sliding profits

London - Italian luxury group Prada SpA aims to strengthen its retail network as well as its e-commerce arm in a bid to protect profit margins from a weaker demand. The group is set to introduce a new retail concept for Miu Miu by the end of the year and will counter new store openings with selective store closures. In addition, Prada also aims to double the size of its e-commerce business by 2018.