Prada Group Reports 15% Revenue Growth, Miu Miu Sales Surge 93%

The Prada Group reported impressive financial results for 2024, with revenues rising 17% to €5.43 billion and net profit increasing by 25% to €839 million, defying a general slowdown in the luxury sector. The brand's success is largely attributed to Miu Miu, which saw sales soar by 93%. Prada's strong performance was bolstered by significant growth in various markets, especially Japan, where sales jumped 46%. The company is also exploring a potential acquisition of Versace from Capri Holdings, with discussions ongoing and a deadline for potential deals approaching. Despite these ambitions, Prada's leadership emphasized a commitment to prioritizing the growth of its existing brands. Overall, the company remains confident in its strategy of product innovation and quality craftsmanship, positioning itself for continued success in 2025.