Prada is reporting a 28-percent drop in is annual net profits through last year.

普拉达宣布2014年年度净利润下降28%。

The high-end fashion retailer is blaming weaker sales of its products in China and Europe.

Prada's Asia-Pacific sales, which account for over one-third of its business, dropped by over 3-percent last year.

Solid sales in Japan, the Middle East and North America have been offset by a major sales drop in Hong Kong and Macau through the second half of last year.

The anti-corruption campaign targeting governmental officials is being blamed for the slowdown.