(Bloomberg) -- Prada SpA’s European sales rose “significantly” more than 10% in May compared to April, the fashion brand’s co-chief executive officer, Patrizio Bertelli, said in a Bloomberg TV interview.

This is an even stronger pick-up than the one registered in China, South Korea and Taiwan after the end of coronavirus lockdowns, but it’s still far from being enough for a complete recovery of the luxury sector, Bertelli added.

“The European market is heavily dependent on tourism,” he said. “Tourism will pick up again when a vaccine will be developed.”

Bertelli said he is looking forward to demand recovering more consistently worldwide. He sees no reason to delist the company at the moment.

“Our job is focused on brand development,” he said. “We are working on new products, on expanding our sale network, on making the most of digital technology.”

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