Prada Group reports net revenues of 1.43 billion in the first quarter

Prada Group, which owns the brands Prada, Miu Miu, Church's, Car Shoe, Versace, Marchesi 1824, and Luna Rossa, has achieved positive results in the first quarter of 2026. Net revenues reached 1.43 billion euros, a 14 percent increase year-over-year (YoY) (+3 percent organic). Retail sales amounted to 1.25 billion euros, up 10 percent YoY (+1 percent organic). This was on a double-digit comparison basis of +13 percent in the first quarter of 2025 and was driven by full-price sales.

“We are operating in an extremely complex environment, characterised by uncertainty and rapidly evolving geopolitical dynamics. In this scenario, consistency and authenticity remain the cornerstones of our brands' creativity and success. We also continuously search for agility and flexibility in our processes, thanks to the strength of our direct industrial structure,” Patrizio Bertelli, chairman and executive director of Prada Group, emphasised in a note.

Regarding the individual brands, Prada recorded a solid quarter, in line with the fourth quarter of 2025. The positive and further improving trend in full-price sales was partially offset by the continued reduction in the contribution from outlets.

Miu Miu continues on its growth path, with retail sales up by +2 percent. This is despite a challenging comparison base of +60 percent in the first quarter of 2025 and a more pronounced negative impact from the conflict in the Middle East. Versace recorded net revenues of 143 million euros, in line with expectations.

Prada's product offering remained balanced, energised by creative dynamism in leather goods

The retail channel recorded growth of +10 percent YoY, +1 percent organic, against a challenging comparison base (+13 percent). Prada showed solidity with growth of +0.4 percent, in line with the fourth quarter of 2025. This resulted from further improvements in the Americas and Asia-Pacific, particularly in China, Hong Kong, and Macao. The product offering remained balanced, energised by creative dynamism in leather goods across the entire price range and by the launch of the new Prada Re-Nylon for Sea Beyond capsule collection.

Miu Miu's desirability remained high, supported by strong and distinctive positioning

Miu Miu confirmed a positive growth trajectory of +2.4 percent, despite the year's most difficult comparison base (+60 percent) and a greater impact from the conflict in the Middle East. The Americas continued to record significant growth, and Asia-Pacific also maintained a very solid trend. The positive results in these regions were partly offset by a slowdown in Europe, especially in terms of tourism-related demand, and in the Middle East. Desirability remained high, supported by a strong and distinctive positioning.

Versace benefited from progressive repositioning towards full-price sales

Versace recorded a performance in line with expectations, benefiting from the progressive repositioning towards full-price sales and from greater depth and quality in its offering. The strategic focus remains on retail execution and clienteling activities, in parallel with the progress of the integration plan at the organisational and process level.

Considering retail sales by geographical area, Asia-Pacific continued to show solidity, up 13 percent YoY and 5 percent organically. Miu Miu maintained sustained growth. Prada reported further improvement, supported by rigorous execution and driven by positive trends in China, Hong Kong, Macau, and Korea.

Europe grew by +2 percent YoY, contracting by 6 percent on an organic basis. This was against challenging multi-year comparison bases, including in Q1-25 (+14 percent). The slowdown was more pronounced in spending related to tourist flows, while local demand reported a more modest contraction.

The Americas maintained a strong growth trajectory, up 34 percent on an annual basis and 15 percent organically, supported by dynamic local demand. Both Prada and Miu Miu continued to benefit from the organisational strengthening and investments made in previous quarters.

Japan showed solidity, growing by 1 percent YoY and contracting by 2 percent on an organic basis, with stable local consumption against a very positive comparison base in Q1-25. The Middle East recorded a 22 percent contraction in the quarter, both at constant exchange rates and on an organic basis. This was due to the impact of the conflict on local demand and tourist flows.

This article was translated to English using an AI tool.

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