MILAN — The Prada Group is one of the few companies fighting against the luxury goods downturn.
The company on Wednesday reported strong retail sales in all regions, including Asia-Pacific, and Miu Miu’s gravity-defying gains, which saw retail sales soar 97% in the same period. The company reported that it had achieved continuous growth for several months. , which rose 105% in the third quarter and accelerated further. As reported, Miu Miu was once again the world’s most popular brand in the third quarter, according to shopping platform Lyst. Prada’s retail sales, which continue to account for the majority of revenue, also increased by 4%.
Group-level sales, which also include Church’s and Carthew, rose 15% to €3.83 billion in the nine months from €3.34 billion in the same period last year. At constant currency, sales increased 18%.
Retail sales were on a consistent growth trajectory, increasing by 15% to €3.42 billion and increasing by 18% at constant exchange rates in the third quarter. This was also driven by regular price sales volume.
Wholesale sales increased by 8% to 314 million euros. Royalties increased by 24% to €91 million, demonstrating the strength of the group’s fragrance and eyewear collections.
Patrizio Bertelli, Chairman and Executive Director of the Prada Group, said: “I am pleased that our strategy continues to deliver above-market performance at both Prada and Miu Miu.” “We are operating in a challenging environment for the entire luxury value chain. Despite this, we continue to see opportunities for our brands and aim for long-term, sustainable growth for the Group and our partners. We remain committed to our strategic investment plans in retail, technology and industrial capabilities to support our customers.”
Prada Spring 2025 Behind the Scenes.
Andrew Katz/WWD
Group CEO Andrea Guerra said: “We continued to deliver high-quality, broadly similar growth this year, supporting our positive trajectory in terms of both revenue and profit.” “Our brand remains attractive and relevant thanks to the strength and consistency of its identity, creativity and clear positioning. Prada has recorded a solid performance and remains in line with headwinds in the sector. Despite the difficult background, we remain confident in our ability to navigate the complexities of our industry and remain solid and sustainable. We remain committed to our goal of outperforming the market.”
The group highlighted recent developments in a statement. These include Luna Rossa Prada Pirelli’s participation in the 37th America’s Cup, but lost in the final round to determine the challenger. All this includes the unveiling of a spacesuit developed in partnership with Axiom Space and the launch of Miu Miu’s immersive site-specific art project Tales & Terrors, presented in the framework of Art Basel Paris. He helped strengthen the brand’s cross-disciplinary capabilities. .
Over the past nine months, group sales in Asia Pacific increased by 9% to €1.14 billion, and despite more challenging market conditions in the region, the overall It was on a flat trend. At constant exchange rates, revenue in the region increased by 12%.
Sales in Europe rose 16% to 1.09 billion euros in the nine months, supported by domestic and tourist spending.
The group reported that the Americas showed a positive development in the nine-month period, up 7% to €576 million, with a further slight quarter-on-quarter acceleration in the third quarter.
Japan recorded a 40% increase in sales to €466 million, driven by strong local consumption and strong tourist flows. Holding exchange rates constant, sales in that market increased by 53%. The third quarter continued to show strong growth, but at a slower pace compared to the previous quarter.
The Middle East also recorded a strong performance over the past nine months, increasing by 24% to €154 million, with growth accelerating in the third quarter.
