Prada Group (PRDSY) Tops 4B Euros in 9M Sales
Milan – The Prada Group (PRDSY) has achieved remarkable success, surpassing 4 billion euros in sales during the first nine months of the year. This impressive performance underscores a robust growth streak, marking 19 consecutive quarters of positive results. As of September 30, revenues climbed to 4.07 billion euros, a 6% increase compared to 3.83 billion euros in the same period last year, and a notable 9% rise at constant exchange rates.
Consistency in Growth Amid Challenges
Patrizio Bertelli, the chairman and executive director of Prada Group, highlighted the significance of their consistent results in a volatile macroeconomic landscape. The strength of our brands and the effectiveness of our strategy are evident, he stated. Prada continues to prioritize creativity, product excellence, and craftsmanship—cornerstones that ensure enduring relevance and sustainable growth in an evolving market.
Though Prada saw a slight decrease of 1.6% in retail sales over the nine-month period, Miu Miu flourished with a staggering 41% growth across various categories and markets. In the third quarter, Miu Miu revenues jumped 29%, illustrating its sustained upward trend despite significant prior-year comparisons.
Retail Channel Performance and Regional Insights
In terms of channel performance, the retail segment experienced a 6% increase, reaching 3.64 billion euros, driven by strong like-for-like and full-price sales. Adjusted for constant exchange rates, this segment grew by 9.3%, with a 7.6% increase in the third quarter alone. Wholesale revenues also rose by 3% to 322 million euros, supplemented by an 11% surge in royalties, totaling 101 million euros.
Regionally, Asia-Pacific retail sales increased by 7% (10% at constant rates) to 1.21 billion euros, reflecting improved trends in Mainland China. Europe recorded a 4% rise to 1.13 billion euros, buoyed by domestic and tourist spending. The Americas reported an impressive 11% retail sales growth to 637 million euros, marking a steady acceleration in the third quarter. Notably, the Middle East saw an 18% increase to 182 million euros, showcasing the market’s strength.
Conclusion
Overall, the Prada Group’s ability to navigate challenges while achieving over 4 billion euros in sales reflects its strategic vision and commitment to quality. As they continue to innovate and respond to market demands, Prada remains poised for future growth, reinforcing its position as a powerful player in the luxury fashion industry.