Robust sales at Miu Miu contribute to financial increase within Prada Group
Prada Group Reports Strong First-Half Sales Growth
In a recent financial update, luxury fashion conglomerate Prada Group announced its sales performance for the first half of 2025. The group reported a robust 8% increase in sales for the Asia Pacific region, leading to a total revenue of 2.7 billion euros, or approximately $3.1 billion.
Every region reported sales growth for Prada Group. In Europe, retail sales were impacted by lower tourist spending and tough comparisons, but local demand remained stable, resulting in a 7% sales increase to 728 million euros. Sales in the Americas also saw a growth of 10%, while sales in the Middle East grew by a significant 24%.
However, sales at the Prada brand itself decreased by 3.6% in the second quarter and 1.9% in the first half. In contrast, Miu Miu's retail sales growth was slower than the previous quarter, with a 40% year-over-year increase in Q2 and 49% overall growth for the first half.
Group retail sales for the same period increased by 8% to 2.5 billion euros, with wholesale sales decreasing by 2% to 220 million euros. Royalties for the group rose by 10% to 67 million euros.
Patrizio Bertelli, Prada Group's chairman and executive director, expressed satisfaction with the group's performance, stating, "In the first half of the year we delivered a sound set of results, testament to the strength of our brands and disciplined execution." He also acknowledged the potential challenges in the short term, saying, "We believe the structural growth opportunities remain unchanged, but we are conscious that in the short term we may continue to face a turbulent economic environment."
Notably, Prada's CEO, Gianfranco D'Attis, is leaving the company effective June 30. Andrea Guerra, currently the CEO of the group, will take over as interim CEO until a permanent appointment is made. The new permanent CEO of the Prada Group will be Lorenzo Bertelli, as confirmed by Prada Group chairman Patrizio Bertelli.
No new information about the acquisition of Versace by Prada was mentioned in this financial update. The report also did not provide any details about executive changes, such as the departure of Prada's CEO or the appointment of an interim CEO, beyond the transition of Andrea Guerra.
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