Prada's H1 Revenue Climbs 16% on Robust Americas Demand, Versace Affects Profits
Prada's First-Half 2025 Financial Performance Overview
MILAN, July 30 (Reuters) - Italian luxury group Prada extended its revenue growth in the first half, driven by strong demand in the Americas, although the acquisition of Versace, which the group is working to revive, weighed on profitability.
Revenue Growth and Versace Acquisition Impact
The group said on Thursday that, including the contribution from the Medusa-branded fashion house which Prada acquired in 2025, first-half net revenues rose 16% to €3.05 billion ($3.50 billion), while adjusted operating profit fell 14%.
Performance Without Versace
Without taking into account Versace, first-half net revenue rose 5% at constant currencies, while underlying profitability remained in line with the previous year, it said.
Analyst Consensus
Both revenue and profitability were broadly in line with analysts' consensus compiled by Visible Alpha.
Regional Sales Breakdown
Americas and Europe
Retail sales, which account for the vast majority of group revenue, were supported by a 17% rise in the Americas in the first half, while sales in Europe declined, although Prada said it saw signs of recovery in both tourist spending and local demand during the second quarter.
Middle East
Sales in the Middle East fell by about a quarter as the conflict in the region weighed on demand.
Brand-Level Performance
Prada and Miu Miu
At brand level, retail sales growth at Prada accelerated in the second quarter. Miu Miu continued to grow, although at a slower pace than the exceptional rates recorded last year.
CEO Statement and Versace Relaunch
"We close the first six months of the year with solid results, accelerating in the second quarter on a positive Q1," said Prada CEO Andrea Guerra in the statement.
He also flagged the arrival of creative director Pieter Mulier at Versace in July, which should help the relaunch of the brand.
Additional Information
($1 = 0.8721 euros)
(Reporting by Elisa AnzolinEditing by Keith Weir)
