The Group’s EBIT Adjusted stood at €619 million, representing a margin of 22.6 per cent, broadly in line with the previous year despite increased investment in brand development. Net income for the period reached €386 million, and Prada ended the semester with a solid net cash position of €352 million, following a €398 million dividend payout and €294 million in capital expenditure, the brand said in its financial release today.
Prada reported a 9 per cent year-on-year revenue rise to €2.74 billion (~$3.15 billion) for H1 2025, with retail sales up 10 per cent.
Miu Miu surged 49 per cent, offsetting a 1.9 per cent dip for Prada.
EBIT Adjusted stood at €619 million (22.6 per cent margin), while net income reached €386 million.
Strategic moves included acquiring Versace and investing in Rino Mastrotto.
Miu Miu emerged as the Group’s strongest performer with retail sales surging 49 per cent year-on-year in the first half and 40 per cent in the second quarter. The brand’s appeal remained strong across product categories and geographies, supported by initiatives such as Miu Miu Upcycled, Miu Miu Custom Studio, and immersive store experiences, including a new three-storey boutique in SKP Wuhan and a redesigned flagship on New Bond Street. Miu Miu’s cultural footprint was further deepened through projects like the Miu Miu Literary Club and Tales & Tellers.
The Prada brand, while facing high comparative figures and subdued global demand, recorded a resilient performance with retail sales down 1.9 per cent in H1 and 3.6 per cent in Q2. The brand continued to build cultural relevance through dynamic storytelling campaigns, such as ‘Days of Summer’ and SS25, while also expanding its physical presence with key launches like Prada Men on 5th Avenue and the Mi Shang Prada Rong Zhai hospitality venue in China. Events such as Prada Mode and Prada Frame, as well as art exhibitions at Epicenters, further reinforced Prada’s cultural resonance.
Commenting on the results, chairman and executive director Patrizio Bertelli said: “In the first half of the year we delivered a sound set of results, testament to the strength of our brands and disciplined execution. This healthy performance was achieved against a challenging backdrop, somewhat unprecedented in our industry. We believe the structural growth opportunities remain unchanged, but we are conscious that in the short term we may continue to face a turbulent economic environment. We remain focused on the long-term with an approach that is mindful of the context. As always, our efforts are centred on the product and the client experience, whilst we continue to strengthen our industrial capabilities and our organisation.”
Andrea Guerra, amministratore delegato del gruppo, added: “We close these first six months with a solid Q2 building on a good start to the year. We owe this performance to the cultural relevance of our brands, their creativity and ability to anticipate and interpret contemporaneity. Over the period, Prada showed resilience against increasingly subdued demand dynamics and high comps; Miu Miu continued on a healthy path of sustainable growth. Certain headwinds are likely to be more cyclical than structural, but it is essential to execute with focus. Looking ahead, while being vigilant and nimble, we remain committed to our strategy and to our ambition to deliver solid, sustainable and above-market growth.”
Geographically, Asia Pacific posted a 10 per cent increase in retail sales over the period, maintaining similar momentum across both quarters. Europe also recorded nine per cent growth, though Q2 was impacted by softer tourist activity. The Americas showed continued recovery, with a 12 per cent increase year-on-year supported by local and traveller demand. Japan grew 4 per cent, slowing from previous highs due to exceptionally strong tourism in 2024. The Middle East outperformed with a 26 per cent rise in retail sales, maintaining steady trends through the semester, the release added.
In strategic developments, the Group announced in April its acquisition of Versace from Capri Holdings for €1.25 billion, a transaction expected to close in the second half of the year, subject to regulatory approvals. In June, Prada Group also completed a 10 per cent equity investment in Rino Mastrotto Group, a global supplier of leather, textiles and luxury manufacturing services.
Sustainability efforts advanced across multiple fronts, including the transition to lower-impact raw materials, responsible chemical management, and improved traceability.
Fibre2Fashion News Desk (KD)
