Prada’s revenues hit €2.5bn in H1
Sales at Prada increased in H1 by 6%, with Q2 at 5% while Miu Miu sales in H1 jumped 93%, with Q2 at 95%
Prada Group’s revenues increased 17% YoY to €2.5bn (£2.1bn) during the first half of the year ended 30 June.
Retail sales for the group increased 18% YoY to €2.2bn (£1.8bn), driven by like-for-like and full-price volumes. EBIT reached €575m (£485m).
Sales at Prada during the first half of the year increased by 6%, with Q2 at 5%, which it said was driven by its “creative strength, high impact initiatives and engagement with audiences”. At the same time, Miu Miu sales in H1 jumped 93%, with Q2 at 95%, driven by fashion shows and activations such as the itinerant Miu Miu Summer Reads.
Geographically, the luxury company reported double-digit growth in Asia Pacific, Europe, Japan and the Middle East. In the Americas there was a “slight sequential improvement” of 7% in H1 sales.
Patrizio Bertelli, Prada Group chairman and executive director, said: “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, group chief executive officer, added: “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.”
He concluded: “While being vigilant, we remain committed to our strategy and to our ambition to deliver solid, sustainable and above-market growth.”