NEWS

Milan, 30^th October 2024 - The Prada S.p.A. Board of Directors today reviewed and approved the consolidated revenue performance for the nine months ended 30 September 2024.
 

Key highlights (growth percentage at constant currency)

• Net Revenues of €3,829 mln, up 18% yoy, driven by strong brand identity, creative dynamism and sound execution

• Retail Sales of €3,425 mln, up 18% yoy; consistent like-for-like growth trajectory in Q3-24 at +18% yoy, notwithstanding the challenging environment

• Above-market performance of Prada with Retail Sales up 4% yoy

• Miu Miu maintains excellent growth with Retail Sales up 97% yoy

• Double-digit growth in Asia Pacific, Europe, Japan and Middle East; further slight sequential improvement in the Americas

Patrizio Bertelli, Prada Group Chairman and Executive Director, commented:
“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.”

Andrea Guerra, Group Chief Executive Officer, 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. Prada recorded a solid performance, showing resilience against sector headwinds, and Miu Miu upheld its thriving growth momentum. Despite the challenging backdrop, we are confident in our ability to navigate the industry complexities, and remain committed to our ambition to deliver solid, sustainable and above-market growth.”