1546 GMT - Some companies in the luxury industry made mistakes with the degree to which they raised prices, Prada Chief Executive Officer Andrea Guerra says in an interview. During the boom in spending on luxuries that started after the peak of the pandemic, high-end luxury brands fed cashed in by raising prices. The biggest increases were seen in leather goods, with some names raising prices of selected pieces as much as 50% to 100% over the period, according to a report by McKinsey & Co. "I'm not a fan of price increases," Guerra says. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
March 07, 2025 10:46 ET (15:46 GMT)
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