Prada Group breaks new sales record in 2024

While the rest of the luxury conglomerates struggle to keep revenues and artistic direction afloat, amid declining sales and rapid changes in ateliers, Prada Group is doing exceptionally well. Shielded from any uncertainty and supported by the constant presence of its founders, Miuccia Prada and Patrizio Bertelli, the company recorded a revenue growth of 15% in 2024 (totaling 5.43 billion euros) and a net profit increase of 25% to 989 million euros. The brand’s continued success is mainly driven by Miu Miu, which achieved a record-breaking sales increase of 93% in 2024. The country that contributed the most to the Group’s remarkable results was Japan, according to the company's report, where sales increased by 46% over the year. Positive results also emerged in Europe, the Americas, and the Middle East, with sales growing across all markets—by 17%, 8%, and 26%, respectively. Despite the Asia-Pacific region, including China, being considered one of the most sensitive areas for luxury today, Prada Group managed to hold its ground there as well, achieving 11% growth in 2024. Considering that most of the growth occurred in the last part of the year, it is likely that Prada Group’s sales will continue to rise in 2025.

«This success highlights the enduring relevance of our brands, stemming from an unwavering focus on product innovation, quality, craftsmanship, and a unique ability to interpret contemporaneity», commented Patrizio Bertelli, co-founder and President of Prada Group. Alongside its focus on craftsmanship and maintaining high product quality, he emphasized that one of the key factors helping the Group surpass the market crisis was its connection to culture and creative innovation. Bertelli mentioned the brand Luna Rossa’s participation in the America's Cup and its collaboration with NASA for the space suits created with Axiom Space. «We have entered 2025 with confidence, continuing to work and invest in long-term sustainable growth», reassured the entrepreneur. No official confirmation has been made regarding the investment, but some industry rumors suggest that the Group is ready to acquire a majority stake in Versace, currently owned by Capri Holdings, for 1.5 billion euros. Andrea Guerra, CEO of Prada Group, also expressed great satisfaction with the achieved results and promised further expansion in 2025. «Marking four consecutive years of double-digit growth,» Guerra stated, «we closed 2024 with highly positive results across all our brands. Over the year, Prada confirmed its strong growth trajectory, and Miu Miu reached a new level of visibility and scale, thanks to a well-diversified total look offering». For now, the CEO concluded, the plan is to continue «refining the positioning of our brands, enriching the product portfolio, and fostering customer engagement.»