MILAN – The tough present state of affairs didn’t thwart Prada Group’s gross sales progress within the first three months of the 12 months.
Within the interval ended March 31, revenues rose 13 % to 1.34 billion euros, in contrast with 1.19 billion euros within the first quarter final 12 months. A 60 % bounce in Miu Miu gross sales, positive aspects throughout all of the group’s markets and a robust retail efficiency contributed to the rise.
“We’re happy with one other quarter of strong efficiency. In an more and more turbulent and unsure panorama, we continued to execute with confidence and self-discipline, leveraging creativity and the energy of our group,” stated Patrizio Bertelli, Prada Group chairman and govt director. “The present surroundings requires us to be agile and versatile; on the similar time, we imagine it’s important to proceed to take a position with a long-term mindset, preserving and creating craftsmanship and know-how, supporting our companions and strengthening our infrastructure.”
Retail gross sales rose 13 % to 1.21 billion euros, pushed by like-for-like, full-price gross sales.
Wholesale revenues had been up 7 % to 96 million euros and royalties grew 15 % to 29 million euros.
Prada’s retail gross sales remained steady, “a resilient efficiency towards the very best quarterly comps of 2024,” the corporate stated in a launch issued on Wednesday. Miu Miu gross sales climbed 60 % at fixed change charges, exhibiting energy throughout classes and areas.
Backstage at Miu Miu Fall 2025 Prepared-to-Put on Assortment at Paris trend Week
Kuba Dabrowski/WWD
“The group had a optimistic begin to the 12 months. Prada confirmed sturdy resilience, towards probably the most difficult quarterly comparability of 2024; the comps will ease barely within the second half of the 12 months however we anticipate the backdrop to stay advanced,” stated Andrea Guerra, group chief govt officer. “However the headwinds, Miu Miu confirmed a exceptional progress trajectory. Wanting forward, our technique stays centered on our manufacturers, their relevance, creativity and marked sensibility in studying the spirit of the time. Sharp execution might be key on this surroundings and to proceed to ship on our ambition of strong, sustainable and above-market progress.”
The group stated Prada’s resilience lay in “a well-balanced product class combine,” led by “strong traction” of attire and the “steady enrichment” of leather-based items. It cited the opening within the quarter of Prada’s first standalone eating house in Asia at Rong Zhai, its restored historic mansion and artwork house in downtown Shanghai, conceived by famend arthouse director Wong Kar Wai, and the opening of Prada Caffè in Singapore. Prada additionally unveiled a menswear retailer on New York’s Fifth Avenue.
At Miu Miu, leather-based items remained the fastest-growing class, supported by the spring 2025 marketing campaign celebrating the model’s signature Matelassé line. Among the many highlights of the quarter, the group talked about the launch of Miu Miu Gymnasium sport-inspired pop-ups and the revealing of the Miu Miu Customized Studio mission. In February, Silvia Onofri joined Miu Miu from Napapijri, underneath the VF Corp. umbrella, as its new chief govt officer.
Group gross sales in Asia-Pacific elevated 10 % to 438 million euros, regardless of a difficult comparability base and broadly unchanged market situations within the area.
Europe was up 13 % to 334 million euros, lifted by each home and vacationer spending.
Gross sales within the Americas rose 11 % to 201 million euros, regardless of elevated volatility through the interval, and boosted by native demand.
Japan continued to develop and gross sales within the area had been up 19 % to 172 million euros, though the rise confirmed progressive moderation and is anticipated to proceed.
The Center East ended the quarter as the very best performing area, with retail gross sales up 31 % to 70 million euros.
On April 10, the group stated it’s buying Versace from Capri Holdings for 1.25 billion euros, with the closing anticipated within the second half of 2025 upon regulatory approvals.
