The Prada Group recently revealed its financial results for the nine months ending September 30, 2024. The group reported net revenues of €3.829 billion, reflecting an 18% YoY increase at constant currency, driven by strong brand identity, creative strategy, and operational resilience amid a challenging global market.
Retail sales were a key contributor to the group’s performance, reaching €3.425 billion, marking a steady 18% YoY growth.
“Our brands remain desirable and relevant, thanks to the strength and consistency of their identity and sharp positioning. Despite industry challenges, we remain focused on solid, sustainable, above-market growth”
Andrea Guerra, Prada Group CEO
The strong retail momentum persisted through Q3, maintaining an 18% YoY increase despite economic challenges. Prada’s retail sales rose by 4% YoY, while its sister brand Miu Miu showcased an exceptional 97% YoY increase.
“We are pleased to see that our strategy keeps delivering above-market performance at both Prada and Miu Miu. Despite challenges across the luxury value chain, our brands are resilient and well-positioned for sustainable growth”
Patrizio Bertelli, Prada Group Chairman and Executive Director
The Prada Group experienced double digit revenue growth across multiple regions. Asia Pacific, Europe, Japan, and the Middle East all demonstrated robust performance, with further improvements in the Americas.
Japan led the growth with 53% YoY, driven by both local consumer demand and tourism, while Europe and Asia Pacific posted YoY growth rates of 18% and 12%, respectively.
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