At brand level, Prada confirmed its solid growth trajectory with retail net sales up 4.2% in the 12 months, while Miu Miu retail net sales grew by 93.2% in 2024, a record year which brings the brand to a new level of visibility and scale.
The EBIT margin of 23.6% showed further expansion, coupled with substantial investments behind the brands. Over the period, the Group delivered double-digit growth in Asia Pacific, Europe, Japan and Middle East, while Americas reported high single-digit growth with a sequential improvement during the year.
- Asia Pacific saw a good performance over the year, at +13%, despite the challenging market conditions in the region and improving in Q4 across all main areas.
- Europe grew +18% over the year, supported by both domestic and tourist spending.
- The Americas progressed positively throughout the year, at +9%, entering in double-digit territory in H2.
- Japan was the best performing region in 2024 with growth of +46%, with remarkably solid domestic demand, but also very positive touristic flows. Q4 continued to register high growth.
- Middle East also achieved a solid performance throughout the year, at +26%, fueled by both domestic demand and tourist spending.
Prada Group’s above average performance marks four consecutive years of double-digit, like-for-like growth, with a net cash position of 600 million euros at the end of December ensuring room for further growth. As one of the leading luxury brands not dampened by the uncertain consumer and market behavior in the sector, the company is said to consider potential acquisitions. The Group has reportedly shown interest in the acquisition of Capri Holdings’ italian luxury flagship brand Versace, as well as Jimmy Choo.
