Italian luxury fashion giant Prada Group posted net revenue of €1,341 million (~$1.43 billion) in the first quarter (Q1) of 2025, ending March 31. This represents a 13% year-over-year (YoY) increase, showcasing Prada Q1 2025 growth and resilience amidst challenging market conditions and a high base from the same quarter in 2024. Miu Miu emerged as a standout performer, achieving an extraordinary 60% YoY growth, driven by strong demand across products and regions.
Brand Highlights
Prada maintained its strong brand identity, excelling with a well-balanced product portfolio that included standout ready-to-wear and leather goods. Key achievements during the quarter included the FW25 fashion shows, immersive brand experiences in Shanghai and Singapore, and the opening of a new men’s store on 5th Avenue in New York City. Meanwhile, Miu Miu sustained momentum with remarkable growth in leather goods, creative campaigns, and dynamic pop-up activations, reinforcing its bold cultural relevance.
Performance by Sales Channels
The Prada Group recorded a 13% YoY increase in retail sales, reaching €1,216 million, propelled by like-for-like and full-price sales. Wholesale sales grew by 7% to €96 million, while royalties rose by 15%, climbing to €29 million.
Regional Revenue Performance
The Prada Group delivered strong results across all key regions during the quarter:
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Asia Pacific: Achieved robust 10% YoY growth, even with a high comparison base and stable market conditions in the region.
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Europe: Revenue increased by 14% YoY, buoyed by both domestic demand and tourist spending.
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Americas: Recorded a 10% YoY growth, despite elevated volatility, supported by continued local demand.
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Japan: Delivered an 18% YoY growth, though gradual moderation was observed, which is expected to persist.
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Middle East: Emerged as the best-performing region, with retail sales surging 26% YoY.
Leadership Insights
Reflecting on Prada Q1 2025 growth, Patrizio Bertelli, chairman and executive director of Prada Group, remarked, “We are pleased with another quarter of solid performance. In an increasingly turbulent and uncertain landscape, we continued to execute with confidence and discipline, leveraging creativity and the strength of our organisation. The current environment requires us to be agile and flexible; at the same time, we believe it is essential to continue to invest with a long-term mindset, preserving and developing craftsmanship and know-how, supporting our partners and strengthening our infrastructure.”
Andrea Guerra, the group’s CEO, acknowledged the resilience of Prada against tough quarterly comparisons. “The group had a positive start to the year. Prada showed strong resilience, against the most challenging quarterly comparison of 2024, the comps will ease slightly in the second half of the year, but we expect the backdrop to remain complex,” he stated. Adding to this, Guerra said, “Notwithstanding the headwinds, Miu Miu confirmed a remarkable growth trajectory. Looking ahead, our strategy remains centred on our brands, their relevance, creativity, and marked sensibility in reading the spirit of the time. Sharp execution will be key in this environment and to continue to deliver on our ambition of solid, sustainable, and above-market growth.”
Looking Ahead
As Prada continues to deliver impressive results, its focus remains on brand strength, innovation, and disciplined execution. With Miu Miu leading the way and solid performance across key regions, the group is well-positioned for sustained success in 2025.
