Italian luxury conglomerate Prada Group reported a 15 percent rise in Q3 revenues to 3.8 billion euros, driven by a stellar 97 percent jump in Miu Miu sales. The brand’s momentum continued to power the group’s performance, offsetting a more modest 4 percent increase at the flagship Prada label.
Retail channels led the growth, up 18 percent in the first nine months, with both like-for-like and full-price volumes contributing. Asia Pacific remained a bright spot, with Japan surging 53 percent on strong local and tourist demand. The Middle East and Europe also delivered double-digit percentage gains.
“We are satisfied to see that our strategy continues to generate results above the market average, both for Prada and for Miu Miu,” said Prada President Patrizio Bertelli. “We operate in a challenging sector context, for the entire supply chain. Despite this, we continue to see growth opportunities for our brands, and we remain committed to retail, technology and industrial investments, to support the sustainable and long-term growth of our group and our partners.”
CEO Andrea Guerra added, “The year continues with another quarter of high-quality, like-for-like growth, which further supports the positive revenue and margin trajectory. Identity coherence, creativity and strong positioning are the basis of the desirability and relevance of our brands. Prada recorded a solid performance, demonstrating resilience against market turbulence, and Miu Miu maintained its strong growth trajectory. Despite the challenging context, we are confident in our ability to address the complexity of the sector and confirm our ambition to generate solid, sustainable and above-market growth.”
