The Italian Prada Group achieved positive results in the first quarter of 2026. Net sales of the parent company, which includes the brands Prada, Miu Miu, Church’s, Car Shoe, Versace, Marchesi 1824 and Luna Rossa, amounted to 1.43 billion euros, the company announced on Thursday. This corresponds to an increase of 14 percent year-on-year and organic growth of three percent.
Retail sales reached 1.25 billion euros, an increase of ten percent compared to the previous year. Organic growth was one percent. This was on a double-digit comparable basis of plus 13 percent in the first quarter of 2025, driven by full-price sales.
“We operate in an extremely complex environment characterized by uncertainty and rapidly evolving geopolitical dynamics,” emphasized Patrizio Bertelli, Chairman and Chief Executive Officer (CEO) of the Prada Group, in a statement. “In this scenario, consistency and authenticity remain the pillars of creativity and success of our brands. Added to this is the continuous pursuit of agility and flexibility in our processes, also thanks to the strength of our direct industrial structure.”
Growth and desirability in the group’s fashion segment
As for individual brands, Prada posted a solid quarter, matching Q4 2025. The positive and improving trend in full-price sales was partially offset by the continually declining contribution from outlets. The product offering remained balanced and was driven by creative momentum in leather goods.
The retail channel reported 10 percent year-over-year growth and 1 percent organic growth. This compares to a challenging comparison basis of plus 13 percent. Prada was solid with growth of 0.4 percent, which corresponded to the fourth quarter of 2025. This resulted from further improvements in the Americas and Asia Pacific, particularly China, Hong Kong and Macau. The product offering remained balanced and was enlivened by creative momentum in leather goods across all price points as well as the launch of the new capsule collection “Prada Re-Nylon for Sea Beyond”.
Miu Miu continued its growth trajectory with a two percent increase in retail sales. This happened despite a challenging comparison base of plus 60 percent in the first quarter of 2025 and stronger negative effects from the conflict in the Middle East. Prada’s younger sister brand confirmed a positive growth rate of 2.4 percent.
This also occurred despite the most difficult comparison basis of the year of plus 60 percent and a greater influence from the conflict in the Middle East. The Americas continued to experience significant growth and Asia Pacific also maintained a very solid trend. Positive results in these regions were partially offset by a slowdown in Europe and the Middle East, particularly in tourism demand. The brand’s desirability remained high, supported by strong and distinctive positioning.
Meanwhile, Versace benefited from the gradual repositioning and recorded net sales of 143 million euros, which was in line with expectations. The brand benefited from a consistent focus on full-price sales as well as greater depth and quality of offering. The strategic focus remains on retail implementation and clienteling activities. At the same time, the integration plan is progressing at the organizational and process level.
Regional development of retail sales
Looking at retail sales by geographic region, Asia Pacific continued to show strength with an increase of 13 percent year-on-year and organic growth of five percent. Miu Miu maintained sustainable growth. Prada recorded further improvement, supported by consistent execution and driven by positive trends in China, Hong Kong, Macau and Korea.
Europe grew two percent year-on-year, but recorded a decline of six percent on an organic basis. This came against a backdrop of challenging multi-year benchmarks, including plus 14 percent in the first quarter of 2025. The slowdown was more pronounced in spending related to tourist flows. Local demand, however, experienced a more modest decline.
America maintained a strong growth trajectory with an increase of 34 percent year-on-year and organic growth of 15 percent. This was driven by dynamic local demand. Both Prada and Miu Miu continued to benefit from organizational strengthening and investments in previous quarters.
Japan was solid with one percent year-on-year growth and an organic decline of two percent. Local consumption remained stable, but compared to a very positive comparison basis from the first quarter of 2025.
The Middle East recorded a decline of 22 percent in the quarter, both at constant exchange rates and on an organic basis. The reason for this was the impact of the conflict on local demand and tourist flows.
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