Prada Holds Profits Steady in H1, Sales Continue Upward Trend

The luxury crisis is beginning to have an impact on the giants that until now seemed immune. If Hermès has closed the first six months of the current fiscal year with a reduced profit, the Italian Prada has stagnated. The company, which owns Prada, Miu Miu and Versace, closed the first half of the year with rising sales but a weak performance in net income.

According to the company, at the end of the first half of the year, total turnover stood at €2.74 billion, which represents a growth of 7.5% compared to the same period of 2024. In retail, the company’s sales increased by 8%, while in wholesale they fell by 2%.

Prada’s gross profit for the period rose by 7.9% to €2.19 billion. Net income, on the other hand, stagnated compared to the first half of 2024, at €386 million, compared to €383 million in the first six months of the previous year.

Prada maintains Miu Miu’s explosive growth, while Prada closes the retail sales performance in negative territory

By brands, Prada closed the second quarter of the year with a 1.9% decline in sales in the retail channel, a drop that reached 3.6% in the second quarter. Miu Miu, on the other hand, maintained a “robust performance”, closing the first half of the year with a growth of 49% and 40% in the second quarter.

The company has remained bullish in the main geographies. In Asia Pacific, its main market, the company posted 8% growth in the first half, to €838 million. Europe, with a total of 728 million, Prada grew by 7%, while in America it posted a 10% increase in sales, in Japan by 6% and in the Middle East by 24%.

Last April, Prada announced the acquisition of Versace from the American Capri for €1.25 billion. The transaction is expected to be completed in the second half of 2025, pending regulatory approval.

“We believe that structural growth opportunities remain, but we are aware that in the short term we may continue to face a turbulent economic environment,“ said Patrizio Bertelli, chairman and CEO of the group.