Miu Miu's revenues went up by 105 percent

In the grim landscape of the current fashion industry, where giants like LVMH and Kering face significant hits in terms of sales and revenue, Prada seems to be the only group prevailing over the luxury crisis. The third-quarter financials show an 18% growth for the Prada Group compared to last year, a result that stands in stark contrast to the struggles of its competitors. Among the group's brands, Miu Miu stands as the true focal point of this expansion: Miuccia Prada's brand recorded a 105% increase in sales, a surge following the already impressive 58% growth reported in 2023. The Prada brand, though with moderation compared to the early months of the year, also saw revenue rise by 2%. Overall, the group's net revenue exceeded €3.8 billion, a result which, as emphasized in the official press release issued by the Group, is due to “the strong identity of the brands, creative dynamism, and rigorous strategy implementation.”

Patrizio Bertelli, CEO of the Prada Group, highlighted how the value of the group's brands has managed to go beyond fashion and luxury. A prime example is the success of Luna Rossa Prada Pirelli in the 37th America’s Cup, an event that sparked considerable enthusiasm and visibility, solidifying the brand’s cultural relevance and strengthening its heritage in the high-performance sportswear segment. Among the most surprising results in the report is the 12% growth in Asian markets, a particularly relevant figure in a period when the luxury sector has been severely impacted in these areas. Asian territories have been a sore point for competitors: among the worst Q3 results was Gucci, which, due to a loss of traction in the region, recorded a -38% in sales in the region. The leadership of the Prada Group is now a fact, also considering the market reputation of its two flagship brands. Furthermore, these positive results allow the group to focus on the 2026 Milan-Cortina Winter Olympics, hoping to avoid a fate similar to that of LVMH, whose involvement in this year’s Summer Olympics did not yield the expected gains.