Key Takeaways:
- Prada H1 net revenue rose 5% organically to €3.05 billion
- Americas retail sales surged 17%, while Middle East fell 25%
- Adjusted operating profit dropped 14% on Versace acquisition costs
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Prada revenue rises 5% as Americas demand offsets Europe weakness
Prada SpA reported first-half net revenue of €3.05 billion ($3.50 billion), up 5% at constant currencies excluding Versace, as strong demand in the Americas offset declines in Europe and the Middle East.
"We close the first six months of the year with solid results, accelerating in the second quarter on a positive Q1," Chief Executive Officer Andrea Guerra said in a statement.
Including the contribution from Versace, which Prada acquired in 2025, total net revenue rose 16% from a year earlier. Adjusted operating profit fell 14%, weighed down by costs tied to reviving the Medusa-branded fashion house. Both revenue and profitability were broadly in line with analysts' consensus compiled by Visible Alpha.
Retail sales, which account for the vast majority of group revenue, rose 17% in the Americas during the first half. European sales declined, though Prada said it saw signs of recovery in both tourist spending and local demand during the second quarter. Sales in the Middle East fell about 25% as the regional conflict weighed on demand.
At brand level, Prada's retail sales growth accelerated in the second quarter. Miu Miu continued to grow, though at a slower pace than the exceptional rates recorded last year. Guerra flagged the arrival of creative director Pieter Mulier at Versace in July, which should help the relaunch of the brand.
The results come as the luxury sector shows mixed signals. Hermès reported second-quarter sales up 6.7% to €4.1 billion, while LVMH posted group sales growth of 3% and Kering returned to growth at 2%. Richemont led the pack with sales up 20% to €6.3 billion in its first quarter.
The guidance raise at Prada signals management expects the brand's momentum to continue despite a volatile market context. Investors will watch the second-half performance for further evidence that the Versace turnaround is gaining traction under Mulier's creative direction.
This article is for informational purposes only and does not constitute investment advice.
