Brand-wise, Prada maintained strong brand appeal through a balanced product mix and standout ready-to-wear and leather goods. Key highlights included FW25 shows, immersive experiences in Shanghai and Singapore, and a new men’s store on 5th Avenue, New York City. Meanwhile, Miu Miu continued its momentum with strong leather goods growth, creative campaigns, and pop-up activations, reinforcing its bold identity and cultural relevance, Prada stated in a press release.
Prada Group has reported revenues of €1,341 million (~$1.43 billion) in Q1 FY25, up 13 per cent YoY, driven by resilient Prada performance and a 60 per cent surge in Miu Miu.
Retail sales rose 13 per cent, with strong growth across Europe, Japan, and the Middle East.
Key brand and store expansions supported performance.
Leadership highlighted the need for focus on brand strength and sustainable growth.
Channel-wise, the group’s retail sales rose by 13 per cent YoY to €1,216 million, driven by like-for-like, and full price sales. Wholesale sales increased by 7 per cent to €96 million, and Royalties saw a 15 per cent growth, reaching €29 million.
Geographically, Asia Pacific recorded a robust 10 per cent YoY growth, despite a challenging comparison base and largely unchanged market conditions in the region. Europe with 14 per cent YoY growth, supported by both domestic and tourist spending also showed improvement.
Americas revenue grew 10 per cent YoY, despite increased volatility during the period, supported by local demand. Meanwhile, Japan continued to perform very positively, up 18 per cent YoY, though showing signs of gradual moderation, which is likely to persist. Middle East ended the quarter as best performing region, with retail sales up 26 per cent YoY.
“We are pleased with another quarter of solid performance. In an increasingly turbulent and uncertain landscape, we continued to execute with confidence and discipline, leveraging creativity and the strength of our organisation,” said Patrizio Bertelli, chairman and executive director of Prada Group. “The current environment requires us to be agile and flexible; at the same time, we believe it is essential to continue to invest with a long-term mindset, preserving and developing craftmanship and know-how, supporting our partners and strengthening our infrastructure.”
“The group had a positive start to the year. Prada showed strong resilience, against the most challenging quarterly comparison of 2024, the comps will ease slightly in the second half of the year, but we expect the backdrop to remain complex,” said Andrea Guerra, group chief executive officer (CEO). “Notwithstanding the headwinds, Miu Miu confirmed a remarkable growth trajectory. Looking ahead, our strategy remains centred on our brands, their relevance, creativity and marked sensibility in reading the spirit of the time. Sharp execution will be key in this environment and to continue to deliver on our ambition of solid, sustainable and above-market growth.”
Fibre2Fashion News Desk (SG)
