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Investing.com -- Prada Group reported a strong start to 2025, with first-quarter net revenues rising 13% year-over-year to €1.34 billion, driven by robust growth across retail channels and standout performance from its Miu Miu brand.
Retail sales reached €1.22 billion, also up 13% at constant currency, with Miu Miu surging 60% year-over-year.
The brand is said to have benefited from a strong product mix and high-impact marketing initiatives such as the SS25 Leathergoods campaign and the Miu Miu Custom Studio.
“Miu Miu confirmed a remarkable growth trajectory,” said Prada (OTC:PRDSY) Group CEO Andrea Guerra. “Dynamic creativity fueled the success of Ready-to-Wear and Footwear, shaping a well-diversified product offering.”
Meanwhile, Prada brand sales were stable compared to last year, reflecting “strong resilience, against the most challenging quarterly comparison of 2024,” Guerra noted.
Regionally, the Middle East led growth with retail sales up 26% year-over-year. Japan followed with an 18% increase, while Europe and the Americas grew 14% and 10%, respectively.
Chairman Patrizio Bertelli emphasized the group’s disciplined execution amid macroeconomic headwinds. “In an increasingly turbulent and uncertain landscape, we continued to execute with confidence and discipline, leveraging creativity and the strength of our organisation.”
The company also reaffirmed its long-term strategy following the April 10 announcement of its planned acquisition of Versace, with the transaction expected to close in the second half of 2025 pending regulatory approvals.