On April 30, Italy’s Prada Group, which centers around its flagship brands Prada and Miu Miu, announced net revenues of €1.341 billion for the first quarter of 2025 (January–March), marking a 13% year-over-year increase. Despite ongoing economic uncertainty, the group achieved a strong start to the year, powered by creativity and organizational strength.
Of the total revenue, retail sales rose 13% to €1.216 billion, wholesale increased 7% to €96 million, and royalties climbed 15% to €29 million. Growth in the retail segment was driven by full-price, like-for-like sales.
By brand, Prada maintained a stable performance, showing resilience against a high base in the previous year. Meanwhile, Miu Miu delivered exceptional results, posting 60% growth year-over-year, with strong performance across leather goods, ready-to-wear, and footwear categories.
Regionally, Asia-Pacific saw a 10% increase, Europe rose by 14%, and the Americas grew 10%, all demonstrating steady momentum. Japan achieved 18% growth, though signs of gradual deceleration were observed. The Middle East outperformed all other regions with a 26% year-over-year increase, making it the best-performing region of the quarter.
During the quarter, Prada enhanced its global brand experience. In Shanghai, it launched “Mi Shang Prada,” an immersive dining concept located in the historic Rhong Zhai residence, directed by acclaimed filmmaker Wong Kar Wai. The group also opened Prada Caffè in Singapore and a dedicated men’s store on Fifth Avenue in New York City.
Miu Miu continued to build on its bold identity and cultural relevance. Initiatives included a Spring 2025 campaign celebrating the brand’s signature Matelassé line, “Miu Miu Gymnasium” sport-inspired pop-ups, and the launch of the customizable “Miu Miu Custom Studio.”
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Patrizio Bertelli, Prada Group Chairman and Executive Director, commented: “We are pleased with another quarter of solid performance. In an increasingly turbulent and uncertain landscape, we continued to execute with confidence and discipline, leveraging creativity and the strength of our organization. The current environment requires us to be agile and flexible; at the same time, we believe it is essential to continue to invest with a long-term mindset, preserving and developing craftsmanship and know-how, supporting our partners and strengthening our infrastructure.”
Andrea Guerra, Group CEO, also shared his thoughts, stating: “The Group had a strong start to the year. Prada showed strong resilience, against the most challenging quarterly comparison of 2024. The comps will ease slightly in the second half of the year, but we expect the backdrop to remain complex. Nevertheless, Miu Miu continues to demonstrate a remarkable growth trajectory.”
He added: “Our strategy remains centered on our brands, their relevance, creativity, and marked sensibility in reading the spirit of the time. In this environment, precise execution is key to achieving solid, sustainable, and above-market growth.”
On April 10, Prada Group announced its plan to acquire Versace from Capri Holdings for €1.25 billion. The transaction is expected to close in the second half of 2025, pending regulatory approval.
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