Prada Group has reported strong financial results for the first half of 2024, indicating significant growth and performance across its portfolio.
- The group’s net revenue rose by 17% to €2.5 billion, reflecting a solid market position and effective business strategies.
- Prada Group experienced double-digit retail growth in key regions such as Asia Pacific, Europe, Japan, and the Middle East, showcasing its global appeal.
- Retail sales of Prada increased by 6%, while Miu Miu saw a remarkable 93% rise, demonstrating the diversified success of the brands.
- Strategic creativity and impactful communication initiatives were pivotal in sustaining Prada’s momentum and desirability.
Prada Group announced a 17% increase in net revenue, reaching €2.5 billion in the first half of 2024, marking a promising trajectory for the luxury fashion house. This growth underscores Prada’s strong market position and effective strategic execution.
The group’s retail sales achieved double-digit growth across vital international markets, including Asia Pacific, Europe, Japan, and the Middle East. Such success highlights Prada’s robust global presence and consumer appeal.
Prada’s individual retail sales rose by 6% year on year. Meanwhile, Miu Miu’s sales surged by an exceptional 93%, indicating a diversified and successful brand portfolio within the group.
The report, dated July 30, attributes Prada’s continued success to its creative strength and significant engagement initiatives, balancing new offerings with traditional merchandise, thereby boosting categories like leather goods and ready-to-wear apparel.
Miu Miu’s commercial success was propelled by impactful communication efforts and a new leather goods campaign, enhancing the brand’s desirability in various product categories.
Chairperson Patrizio Bertelli expressed satisfaction with the group’s performance, attributing its success to disciplined strategy execution and achieving high-quality growth despite an uncertain market climate.
Prada’s results for the first half of 2024 reflect its robust market presence and strategic prowess, positioning the group for continued success.
