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Prada Group's sales in the first nine months of 2024 bucked the luxury . Prada's CEO Gianfranco D'Attis is focusing on further growing the brand's retail .
Prada Group's sales in the first nine months of 2024 bucked the luxury slowdown, boosted by a strong retail performance in all geographic areas, and Miu Miu's continued upward trajectory. Prada's CEO Gianfranco D'Attis is focusing on further growing the brand's retail channel and expanding in the U.S. and China. A strong Prada brand and a jump at Miu Miu in the first quarter fuelled a sales growth of parent Prada Group, which is eyeing long-term gains.
MILAN, July 30 (Reuters) - Italian luxury group Prada posted on Tuesday higher revenues and operating profit for the first half, beating analyst expectations and defying the downturn in luxury. Prada Group’s annual revenues rose 21 percent to €4.2 billion euros (.4 billion) in 2022, hitting their highest level ever after a multi-year turnaround effort, the Milanese group said Thursday. Operating profit jumped 59 percent to €776 million.
The Prada Group is expanding its production footprint in Italy, including dozens of new jobs at its knitwear factory in Umbria, leaning into “Made in Italy” as integral to the brand’s ethos.
Continuing to ratchet up digital will be a big part of Prada’s future growth, Bertelli said. The brand has increased its budget for online communications by 80 percent since 2019, and plans to invest another €150 million over the next three years to . Prada, Bottega Veneta win over retailers in Milan for spring 2025 as they hail a strong season, dripping with romantic looks, embellishments and marked by superior craftsmanship.
Prada sales growth
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Prada sales bounced back sharply in 2021 as pent-up demand for luxury handbags and clothes helped push revenues above pre-pandemic levels, the Italian fashion group said. At a factory opening that produces Prada knitwear, Lorenzo Bertelli, the group’s marketing director and son of Miuccia Prada and CEO husband Patrizio Bertelli, told reporters the company is open to M&A opportunities.
Prada Group's sales in the first nine months of 2024 bucked the luxury slowdown, boosted by a strong retail performance in all geographic areas, and Miu Miu's continued upward trajectory. Prada's CEO Gianfranco D'Attis is focusing on further growing the brand's retail channel and expanding in the U.S. and China. A strong Prada brand and a jump at Miu Miu in the first quarter fuelled a sales growth of parent Prada Group, which is eyeing long-term gains.
MILAN, July 30 (Reuters) - Italian luxury group Prada posted on Tuesday higher revenues and operating profit for the first half, beating analyst expectations and defying the downturn in luxury. Prada Group’s annual revenues rose 21 percent to €4.2 billion euros (.4 billion) in 2022, hitting their highest level ever after a multi-year turnaround effort, the Milanese group said Thursday. Operating profit jumped 59 percent to €776 million.
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The Prada Group is expanding its production footprint in Italy, including dozens of new jobs at its knitwear factory in Umbria, leaning into “Made in Italy” as integral to the brand’s ethos. Continuing to ratchet up digital will be a big part of Prada’s future growth, Bertelli said. The brand has increased its budget for online communications by 80 percent since 2019, and plans to invest another €150 million over the next three years to . Prada, Bottega Veneta win over retailers in Milan for spring 2025 as they hail a strong season, dripping with romantic looks, embellishments and marked by superior craftsmanship. Prada sales bounced back sharply in 2021 as pent-up demand for luxury handbags and clothes helped push revenues above pre-pandemic levels, the Italian fashion group said.
Prada retail sales forecast
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