Prada Group Nine-Month Revenue Climbs 12% to €4.54 Billion as Miu Miu Cools

Revenue for the nine months reached €4.54 billion, up from €4 billion a year earlier. Stripping out Versace, which contributed €441 million in sales during the period, and measured at constant exchange rates, group sales grew 4%. In the third quarter, group revenue advanced 11% at constant currency.

Prada brand retail sales rose 2% over the nine-month stretch and 1% in the third quarter, supported by positive performances in the Americas and Asia-Pacific, including China. Trading in Europe and Japan was broadly stable year on year.

The group's faster-growing Miu Miu label slowed during the period, tempering the overall growth picture. Prada described the third quarter as having unfolded against a particularly challenging industry backdrop.

Chairman and executive director Patrizio Bertelli said in a Thursday statement that the trading environment remains complex and volatile, demanding focus, agility and rigorous execution, and that the group continues to build on creativity, product excellence and manufacturing know-how.

Bertelli also pointed to the recent opening of a production site in Piancastagnaio in Tuscany, a fully integrated hub dedicated to leather goods, which he said reflects the group's industrial vision and its attention to the local territory and working conditions. He added that while market turbulence is likely to persist, the company is confident in its ability to work through the challenges and to keep building for the long term.