Business
Prada’s Third Quarter Revenues up 17.7%, Miu Miu Sales Double
Published by Jessica Weisman-Pitts
Posted on October 30, 2024
1 min readLast updated: January 29, 2026
Add as preferred source on Google
Global Banking & Finance Review®
Company
Published by Jessica Weisman-Pitts
Posted on October 30, 2024
1 min readLast updated: January 29, 2026
Add as preferred source on GoogleMILAN (Reuters) – Third-quarter net revenues for Prada rose 17.7% at constant
MILAN (Reuters) – Third-quarter net revenues for Prada rose 17.7% at constant exchange rates, driven by double-digit retail sales growth in Asia and Europe and by the doubling of sales at the smaller Miu Miu brand, the Italian luxury group said on Wednesday.
The main brand Prada reported a 1.7% increase in retail sales in the period, slowing down compared to the previous quarter.
We progressed through the year with another quarter of high-quality, like-for-like growth, supporting our positive trajectory in both revenue and margins,” Prada Chief Executive Officer Andrea Guerra said in a statement, adding that the group’s main brand showed resilience against sector headwinds.
The luxury sector is suffering a slowdown.
Earlier this month Kering reported that its revenues fell 16% on an organic basis and luxury bellwether LVMH missed expectations, flagging a drop in Chinese consumer confidence.
(Reporting by Elisa Anzolin, editing by Keith Weir and Alvise Armellini; Editing by Keith Weir)
Retail trade refers to the sale of goods and services directly to consumers. It involves various businesses, including department stores, supermarkets, and online retailers, that sell products to end-users.
The luxury sector encompasses businesses that sell high-end products and services, often characterized by exclusivity and premium pricing. This includes luxury fashion brands, jewelry, and high-end automobiles.
Consumer perception refers to how customers view and interpret a brand or product based on their experiences, marketing, and social influences. It significantly impacts purchasing decisions and brand loyalty.
Market trends are patterns and tendencies observed in a particular market over time. They can indicate shifts in consumer behavior, preferences, and economic conditions, influencing business strategies.
Explore more articles in the Business category
