Prada Group continues to power through economic headwinds that have impacted sales across the luxury sector for the last year. Reporting 13% revenue increase from 1.19 billion euros to 1.34 billion euros in Q1 year over year, the Italian luxury conglomerate that founded Prada has Miuccia Prada‘s label Miu Miu to thank for the brand family’s performance in the face of difficulties.
According to WWD, Miu Miu reported a 60% boost in sales in the first three months of 2025, ending on March 31, driven by leather goods sales and the brand’s expanding footwear category, which has recently manifested in its Miu Miu Gymnasium pop-ups. While the group’s overall sales in Europe, the Americas, and Asia continued to show double-digit growth, the Middle East was its best-performing region, seeing sales up by 31%.
The group chief executive officer, Andrea Guerra, said, “Notwithstanding the headwinds, Miu Miu confirmed a remarkable growth trajectory. Looking ahead, our strategy remains centered on our brands, their relevance, creativity, and marked sensibility in reading the spirit of the time. Sharp execution will be key in this environment and to continue to deliver on our ambition of solid, sustainable, and above-market growth,” in a statement.
It remains to be seen whether the addition of Versace to Prada Group’s portfolio will deal a blow to its performance. Versace, which was acquired from Capri Holdings for €1.25 billion, was hit particularly hard by the luxury slowdown, reporting a 15% drop in sales in the final quarter of 2024.
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