Prada Group, renowned for its luxury fashion brands, posted noteworthy financial growth in the first half of 2024.
- Net revenues for Prada reached €2.5bn, marking a 17% year-on-year increase, reflecting robust brand performance.
- Retail sales for the group climbed by 18%, with exceptional growth observed across multiple global markets.
- Prada achieved a 6% rise in retail sales, while Miu Miu experienced a significant 93% sales surge.
- Strategic initiatives and a balanced product mix were pivotal in maintaining the brand’s momentum and market appeal.
Prada Group, a leader in the luxury fashion sector, reported a 17% rise in net revenues to €2.5 billion for the period ending 30 June 2024. This financial upswing demonstrates the group’s solid market position and successful strategic initiatives.
Retail sales reached €2.2 billion, up by 18% year on year, with Asia Pacific, Europe, Japan, and the Middle East showing double-digit growth. This reflects Prada’s effective market penetration and consistent appeal across diverse regions.
Prada itself also saw a 6% increase in retail sales year on year. Notably, Miu Miu, another brand under the Prada Group umbrella, recorded a remarkable 93% surge in sales, highlighting its growing popularity and consumer engagement.
The group praised its strategic focus on creative strength and impactful initiatives, which helped to sustain sales in leather goods and drove traction in ready-to-wear and footwear categories.
Patrizio Bertelli, Prada Group’s chair and executive director, attributed the positive results to the brand’s inherent strength and the disciplined execution of their strategic plan. He noted the achievement of above-market performance amidst challenging economic conditions.
Prada’s financial results for the first half of 2024 underscore its strong market position and effective strategic execution.
