Prada Group has reported a 1% sales decline for the financial year ended January 31 to €3.56 billion, hit by constrained spending in Asia and the timing of Chinese New Year.

However, its footwear brands grew strongly: UK-based Goodyear-welted brand Church’s saw sales rise up 14.8% at current exchange, while Italy’s Car Shoe, reported 12.7% sales growth.

Prada CEO Patrizio Bertelli said: “Throughout financial year 2014, we operated under a geopolitical and monetary environment which was more uncertain and complex than could have been envisaged. This situation has temporarily held up the group’s path of growth, but it will not affect our medium/long-term growth objectives.”

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