Media playback is unsupported on your device

Asian consumers boosts Prada profits

24 September 2012 Last updated at 14:12 BST

Italian fashion house Prada enjoyed higher profits thanks to Asian consumers who have helped the company beat the global economic downturn.

There have been fears about Europe's luxury firms ever since Burberry warned that Chinese sales had slumped.

It is Asia's new rich keeping the sector afloat as Western consumers tighten their belts.

Jeremy Howell reports.