Thanks to Miu Miu: Prada Group increases quarterly sales by 13 percent

Prada defied difficult market conditions in the luxury sector thanks to Miu Miu. Despite the uncertain global economic situation, the Italian fashion group Prada continued to grow in the first quarter. The company announced on Wednesday that the group generated sales of 1.34 billion euros in the period from January to March. This was 13 percent higher than in the same period last year.

The group's continued growth was driven in particular by strong retail sales. Revenues from its own sales channels grew by 13 percent to 1.22 billion euros. While both group brands were able to grow in their own retail channels in recent years, this quarter showed a slightly different picture. Miu Miu continued its strong performance, while Prada achieved a stable result.

Retail sales of the main brand remained almost unchanged, with an increase of 0.1 percent (a decrease of 0.2 percent adjusted for exchange rates). Sister brand Miu Miu, which was displaced from the top spot in the current Lyst Index by Loewe, confirmed its dynamic growth path with an increase of 60 percent compared to the same period last year.

“The group had a positive start to the year,” said Prada Group chief executive officer Andrea Guerra in the statement. “Regardless of the headwinds, Miu Miu confirmed a remarkable growth path”. Prada's sales had to measure up against the very successful figures of the first quarter of 2024 and proved to be “resilient” in light of this.

Middle east developed most dynamically

In Europe, retail revenues rose by 13 percent to 334 million euros, in North and South America by 11 percent to 201 million euros. In the Asia-Pacific region, retail sales amounted to 438 million euros, an increase of 10 percent compared to the same period last year and in Japan, revenues rose by 19 percent to 172 million euros. However, sales grew most strongly in the Middle East. With an increase of 31 percent to 70 million euros, the region developed particularly dynamically.

In addition, the wholesale business also contributed to the growth of the first quarter with an increase of 7 percent to 96 million euros and license revenues also increased by 15 percent to 29 million euros.