The Prada Group was able to significantly increase its sales and profit in the past financial year.
The company, which includes the brands Prada and Miu Miu, Church’s, Car Shoe, Marchesi 1824 and Luna Rossa, recorded net sales of 5.4 billion euros in 2024, which corresponds to an increase of 17 percent compared to 2023 and is above the market average.
Despite the difficult industry situation, the strategic expansion of capacities and investments in product quality are the basis of growth, said Patrizio Bertelli, Executive Director of the Prada Group, during a conference call with analyst: inside and the press. Bertelli emphasized that the company is confident about 2025.
The company, led by CEO Andrea Guerra, recorded a further increase in profitability with an EBIT margin of 23.6 percent, in the event of a proceeds from interest and taxes of 1.3 billion euros. The group surplus amounted to 839 million euros, an increase of 25 percent compared to the previous year.
The retail turnover was 4.8 billion euros
Retail sales amounted to 4.8 billion euros; They achieved a currency -adjusted plus of 18 percent compared to the previous year – also thanks to the volume of the items sold at full price. When looking at the individual brands, Prada achieved growth of the retail turnover of 4 percent compared to the previous year, Miu Miu recorded record growth of 93 percent. The positive business development was supported by all product categories and geographical regions.
With regard to the rumors about a possible takeover of Prada and Jimmy Choo, Guerra confirmed during the conference call that the company did not comment on rumors.
Europe recorded growth of 18 percent
The regions of Asia-Pacific, Europe, Japan and the Middle East all recorded double-digit growth. The latter space recorded solid retail sales with a plus 26 percent over the course of the year, supported by local demand and tourist flows.
Europe recorded growth of 18 percent in the course of the year, which was supported by domestic use and tourism. Japan was the geographical area with the best performance 2024, with an increase of 46 percent, supported by a particularly solid local demand, but also with rising tourist flows.
Growth over average expected
“Thanks to several years of investing in capacity and industry know-how, our production platform and our employees differ in a constantly changing industry context that requires quality, agility and efficiency,” added Bertelli in a statement.
“Prada has confirmed his solid growth course in the past twelve months and Miu Miu has achieved a new level of visibility and size thanks to a well-diversified total look. With regard to the future, we reaffirm our strategic priorities, but we are aware of the continued complexity of the sector, “said Andrea Guerra, CEO of the group.” For Prada, there is a clear chance of continuing to win market shares, while the goal for Miu Miu is to consolidate its success. For this purpose, we will make the positioning of the brands more and more. support financially.”
For the current year, the company expects growth above the market average.