Prada Group records 1.9 billion revenue in the first half of 2022

Things are looking up for Prada and its family of brands, which includes Miu Miu, Church's, and Car Shoe as well as Marchesi and Luna Rossa. On the strength of a powerful network of stores and retail outlets scattered around the world, the group has managed to limit losses due to the recent lockdowns in China by finding momentum thanks to the return of tourists (especially Americans) to Europe. Retail sales for the entire group, which alone make up 90 percent of its revenue, grew by 26 percent to 1.7 billion euros - but overall revenue for the entire half year is even higher at around 1.9 billion euros with 22 percent growth. Also interesting are the signs for the future: the brand intends to make its leather goods offering even stronger, bringing it to become 60 percent of all revenue from the current 51 percent. Ready-to-wear currently makes up 27 percent, shoes 19 percent, and the rest of the products 2 percent. This desire to become the benchmark for Italian leather goods will likely see a raising of prices, an expansion of the sample collection but also an investment in in-country production - 90 percent of the group's leather goods are made in Italy. But there's more: these excellent results have led the Prada Group to consider a dual listing, which would see, for the first time in its history, the group listed on Piazzaffari in Milan.

The group's chairman, Paolo Zannoni, told analysts: «Because of our corporate structure and heritage, the dual listing has always been an option on the table for Prada and remains an option», even though for now «it's not a priority, and no decision has been made on that at this point». In another interview, CEO Patrizio Bertelli said that dual listing would be «in line with the group’s heritage» and also that «there are many companies that are listed in two jurisdictions. we are not looking to leave Hong Kong — Asia is an extremely important market for our group». Indeed, a dual listing between Hong Kong and Milan would be quite unprecedented, considering also how the Prada family still owns 80 percent of all shares, with only 20 percent listed on the stock exchange. At the moment, the main doubts are about how this dual listing would work and how shares would be exchanged between the two markets, although perhaps the group's return home, in fiscal terms, would not only be a strongly positive development but would be a possible lifeline in front of the concerns that the tensions between China and Hong Kong are raising these days. It is precisely in China, by the way, that the Prada brand is targeting an ad hoc show to be held in Beijing on August five in an ancient Chinese imperial palace.