Prada Group closes H1 with a 16 percent increase in net revenue

Prada spa reported net revenue of 3.048 billion euros (3.50 billion dollars) in the first half ending June 30, an increase of 16 percent year-over-year (plus 5 percent on an organic basis).

The company closed the second quarter with 7 percent growth.

According to a statement from Prada spa, retail sales amounted to 2.633 billion euros. This is an increase of 12 percent year-over-year and 3 percent on an organic basis, compared to 10 percent growth in the first half of 2025. As for the Versace brand, it maintains its strategic focus on elevating sales quality and retail execution, closing the first half at 305 million euros.

Patrizio Bertelli: "we must remain agile and constantly innovate, leveraging our industrial structure"

“Our constant commitment to product excellence, supported by craftsmanship and creativity, has always been essential. This has allowed us to achieve 22 consecutive quarters of organic growth. The context will remain uncertain; we must remain agile and constantly innovate, leveraging our industrial structure and maintaining a balance between short-term discipline and long-term vision," stated Patrizio Bertelli, chairman and executive director of the Prada Group, in the note. The group owns the brands Prada, Miu Miu, Church's, Car Shoe, Versace, Marchesi 1824, and Luna Rossa.

Regarding the individual brands, Prada's retail sales grew by 3.3 percent year-over-year in the first half. This further strengthened to plus 6.3 percent in the second quarter, driven by like-for-like and full-price sales.

Miu Miu's retail sales increased by 2.5 percent year-over-year in the first half. The second quarter saw 2.6 percent growth, consistent with the first. This performance was achieved despite greater exposure to the Middle East and a challenging comparison base of plus 40 percent in the second quarter of 2025.

The company, led by CEO Andrea Guerra, achieved sequential improvement in all geographical areas except for the Middle East, which contracted by 24 percent in the first half.

Versace's performance was in line with expectations, with net revenue of 305 million euros in the first half.

The brand maintains its strategic focus on elevating sales quality and retail execution, the management specified in the note. Pieter Mulier's arrival in July marked the beginning of its creative repositioning journey.

"The first fashion show presenting Versace's new vision is scheduled for early next year, when the first collection under the new creative direction led by Pieter Mulier will be shown," said Lorenzo Bertelli, executive chairman of Versace, last March. He was speaking during the conference call with analysts and the press for the presentation of the Prada Group's 2025 results. "Until then, the work will be focused on analysing and developing future collections."

Returning to Prada spa's first-half results, released today, July 30, the adjusted Ebit was 530 million euros. This corresponds to a margin of 17.4 percent, including Versace and the impact of exchange rates.

Net profit for the half-year was 327 million euros.

Cash generation and the balance sheet position are solid, according to the note, with a net financial debt of 693 million euros.

CEO Andrea Guerra: "pieter Mulier's arrival at Versace marks the beginning of a new creative journey"

“We closed the first half with solid results, supported by an accelerating second quarter after a good start to the year. Prada recorded a very positive performance in the second quarter, and we will continue to invest in product, retail, and communication to guide the brand towards its full potential," Guerra emphasised.

"Miu Miu has confirmed its relevance and desirability, building on a solid and consistent path developed over the years, despite a still challenging comparison base. Pieter Mulier's arrival at Versace, who became chief creative officer of Versace on July 1 and reports to Lorenzo Bertelli, executive chairman of Versace, marks the beginning of a new creative journey for the brand. We are excited to welcome his talent and vision to the group. Our strategy is clear and our brands have solid foundations. Looking ahead to the coming months, we will maintain discipline and dynamism in execution, pursuing the group's ambition to generate sustainable, above-market growth," the CEO added.

Retail sales in Europe up 5 percent in H1, Middle East down 24 percent

Asia Pacific continued to show strength, with growth of 15 percent year-over-year and 6 percent on an organic basis; Prada saw continuous improvement in the second quarter, supported by rigorous execution and driven by positive trends across the region; Miu Miu experienced robust growth throughout the entire period.

Europe grew by 5 percent but contracted by 4 percent on an organic basis; the second quarter improved to minus 2 percent, supported by a recovery in tourist spending and local demand.

The Americas maintained a strong growth trajectory, recording a 37 percent year-over-year increase and a 17 percent rise on an organic basis. The second quarter accelerated thanks to increased local demand. Both Prada and Miu Miu continued to benefit from the strengthening of their respective organisations and investments made in recent years.

Japan showed a positive trend, growing by 6 percent year-over-year and 2 percent on an organic basis. There was an improvement in the second quarter due to the strength of the local clientele and increased tourist demand.

The Middle East recorded a contraction of 24 percent year-over-year and 24 percent on an organic basis, due to the ongoing conflict throughout the second quarter; local demand remained relatively resilient, showing a quarter-on-quarter improvement.

Focus on sustainability and responsible sourcing

"The transition plan towards lower-impact raw materials has continued to promote responsible sourcing and product innovation. Meanwhile, chemical management and efforts to decarbonise the supply chain have been further strengthened, in collaboration with other industry players," the note specified.