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Prada Group retail sales up 18% with Miu Miu continuing “strong trajectory”

Tom Bottomley
30 July 2024

The Prada Group, which owns luxury fashion houses Miu Miu and Prada, has today reported "solid" retail sales of €2.2 billion - up 18% year-on-year – for the first half ending 30 June 2024.

Net revenues reached €2.5 billion, up 17% year-on-year as "strong brand identity, creativity and dynamism continued to foster desirability".

There was a "continued above market performance" at Prada, with retail sales growth of 6% year-on-year, while Miu Miu "remained on a strong trajectory" with retail sales up 93% year-on-year.

The group also reported double-digit growth in Asia Pacific, Europe, Japan and the Middle East, as well "further slight sequential improvement" in the Americas.

Patrizio Bertelli, Chairman and Executive Director at Prada Group, said: "The solid results recorded in the first half of the year reflect the strength of our brands and the disciplined execution of the group’s strategy.

"We are satisfied with the above market performance and high quality, like-for-like growth trajectory that we have achieved in an increasingly uncertain market environment.

"The flexibility of our organisation gives us confidence in the group’s ability to navigate the months ahead, as we continue to invest across our business."

Andrea Guerra, Prada Group Chief Executive Officer, added: "The group has successfully delivered 14 consecutive quarters of high quality, like-for-like growth, with a positive Q2 building on a solid start to the year.

"Prada remained on a sound trajectory and Miu Miu confirmed its strong performance, with both brands capitalising on their unique identity, creativity, and positioning. In the current macroeconomic and geopolitical context, industry dynamics have become more challenging; this requires us to be agile and sharp on our product range, communication and overall positioning, to continue to drive client engagement and to progress in our journey towards retail excellence.

"While being vigilant, we remain committed to our strategy and to our ambition to deliver solid, sustainable and above market growth."


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