Prada Group grows double-digit in first quarter

An excellent start to the year for the Hong Kong-listed Prada Group, which closed the January-March quarter with strong growth despite heightened geopolitical and macroeconomic tensions. Net sales came in at 1.428 billion, up 14% year-on-year at constant exchange rates, +3% organic. Retail sales rose 10% (+1% organic) to EUR 1.245 billion, on a double-digit comparison basis (+13%) in Q1 2025 and driven by full price.

Miu Miu continued on its growth path, with retail sales up +2%, despite a challenging comparison base of +60% in the first quarter of last year and a more pronounced negative impact from the conflict in the Middle East. For the group as a whole (which includes the Prada, Miu Miu, Car Shoes and Church's brands and, from 2025, Versace), excellent performance in the Americas, with double-digit growth, supported by recent investments and rigorous execution; sustained growth in Asia Pacific, driven by Greater China and Korea; Japan remained solid and stable. Net sales of €143 million for Versace, which performed in line with expectations, reads a group note.

"We find ourselves operating in an extremely complex context, characterised by uncertainty and rapidly changing geopolitical dynamics. In this scenario, coherence and authenticity remain the cornerstones of the creativity and success of our brands, together with the continuous search for agility and flexibility in our processes, thanks also to the strength of our direct industrial structure," commented Patrizio Bertelli, Prada Group chairman and chief executive officer. "Looking to the future, we will continue to execute our strategy with confidence, strengthened by the solid foundations built over the years and with a sense of responsibility towards our collaborators and partners."

"The Group continued to grow in a difficult environment and against the most challenging comparison basis of the year," added Andrea Guerra, Group CEO. "Prada maintained positive momentum, showing further improvement in full-price sales. Miu Miu continues to benefit from strong desirability; although its growth path brings us up against very high targets, we are reassured by the quality of that growth, achieved without compromise, and we are confident about future opportunities. The integration of Versace is proceeding in line with expectations, with a focus on strengthening organisation and processes in view of the next phase of creative evolution. Our solid and well-articulated strategy towards the high-end on the one hand, and aimed at attracting new customers on the other, will be decisive in the coming months. In parallel, we will continue to operate with discipline, vigilant but faithful to the Group's ambition to generate above-average market growth."