Prada Group reported continued momentum in the nine months to September 30, delivering its 19th consecutive quarter of growth despite a challenging global retail environment.
The luxury group’s net revenues rose 9 per cent year on year to US$4.7 billion, supported by a 9 per cent increase in retail sales to $4.2 billion. Third-quarter retail sales were up 8 per cent, matching second-quarter growth and holding steady against a high base from last year.
Miu Miu is maintaining its strong trajectory, up 41 per cent over the nine months and 29 per cent in the third quarter, following a 105 per cent surge in the same period last year.
Meanwhile, Prada brand sales eased 1 per cent in the third quarter and 2 per cent over the nine months.
Prada chairman Patrizio Bertelli said the consistency of the results, in a complex macroeconomic environment, “confirms the strength of our brands and the validity of our strategy”.
