Prada defies difficult market conditions in the luxury industry thanks to Miu Miu Despite the uncertain global economic situation, the Italian fashion group Prada was able to continue to grow in the first quarter. As the company announced on Wednesday, the group generated sales of 1.34 billion euros from January to March. The result was 13 percent above the same period last year.
The continued growth of the group is borne in particular by strong retail sales. The proceeds of your own sales channels grew by 13 percent to 1.22 billion euros. While both corporate brands have been able to grow in their own retail in recent years, a slightly differentiated picture was shown in this quarter. Miu Miu continued her high altitude while Prada achieved a stable result.
The retail sales of the main brand remained almost unchanged with an increase of 0.1 percent (adjusted for exchange rate of 0.2 percent). The sister brand Miu Miu, which was displaced by Loewe from the top position in the current Lyst index, confirmed its dynamic growth course with an increase of 60 percent compared to the same period last year.
“The group had a positive start to the year,” said Prada Group CEO Andrea Guerra of the message. “Regardless of the headwind, Miu Miu confirmed a remarkable growth course”. Prada’s sales had to be measured with the very successful values of the first quarter of 2024 and, in view of this, were “resistant”.
Middle East developed most dynamically
In Europe, retail revenues increased by 13 percent to 334 million euros, in North and South America by eleven percent to 201 million euros. In the Asia-Pacific region, retail sales were 438 million euros, an increase of ten percent compared to the same period in the previous year and in Japan the proceeds rose by 19 percent to 172 million euros. However, sales in the Middle East grew most strongly. With an increase of 31 percent to 70 million euros, the region developed particularly dynamically.
In addition, the wholesale business also contributed to the growth of the first quarter with an increase of seven percent to 96 million euros and the license revenue also increased by 15 percent to 29 million euros.