The Brand’s Consistent Success Was Bolstered by Miu Miu, Smart Cultural Positioning, and Major Bumps in Europe and Japan
Prada Group continues to show resilience and growth in the luxury fashion sector, outpacing many rivals amid challenging global market conditions. For the nine months ending September 30, Prada SpA reported an 18% year-over-year increase in retail sales, reaching €3.43 billion, with strong gains across multiple regions, including Asia-Pacific, Europe, Japan, and the Middle East. Group revenues, which include its brands Prada, Miu Miu, Church’s, and Car Shoe, rose by 18% at constant exchange rates to €3.83 billion.
The group’s growth is driven in large part by Prada’s consistent appeal and Miu Miu’s significant momentum, especially among younger consumers. Sales at Prada’s flagship brand grew 4%, while Miu Miu sales soared by 97% year-over-year, doubling in the third quarter with a notable 105% increase. This success has propelled Miu Miu to the top of the Lyst index for the quarter, making it the world’s most-searched brand. The brand’s Arcadie handbags and cashmere cardigans have been particularly popular among shoppers.
Prada Group’s leadership praised the company’s results, with Chairman Patrizio Bertelli noting, “We are pleased to see that our strategy keeps delivering above-market performance at both Prada and Miu Miu. We are operating in a challenging environment for the entire luxury value chain. Nonetheless, we continue to see opportunities for our brands and remain committed to our strategic investment plan in retail, technology, and industrial capabilities to support the long-term, sustainable growth of our Group and our partners.” CEO Andrea Guerra added,
We progressed through the year with another quarter of high-quality, like-for-like growth, supporting our positive trajectory in both revenue and margins. Our brands remain desirable and relevant, thanks to the strength and consistency of their identity, creativity, and sharp positioning.”
Despite headwinds, Prada Group’s regional performances underscore its resilience. Sales in Asia-Pacific reached €1.14 billion, though growth slightly moderated due to ongoing market challenges in the region. Europe saw a 16% increase to €1.09 billion, bolstered by tourist and local spending, while sales in Japan jumped by 40% to €466 million, with a notable 53% rise at constant exchange rates due to strong local demand and tourism. The Americas also showed modest growth, increasing by 7% to €576 million.
Prada Group’s recent initiatives, including its collaboration with Axiom Space for a new spacesuit and Miu Miu’s art project, Tales & Tellers at Art Basel Paris, continue to strengthen the brand’s cultural presence across different sectors, contributing to its sustained relevance and appeal.