Amid a challenging luxury market, the Prada Group delivers 9 % revenue growth to €4.07 billion, with Miu Miu up 29 % in Q3 and leading the charge.

The Italian luxury powerhouse Prada Group has announced net revenues of €4.07 billion for the first nine months of 2025, representing a 9 % increase year‑on‑year at constant exchange rates.
The result marks the group’s 19th consecutive quarter of growth, underscoring resilience amid a complex global luxury landscape.

Strong Retail Performance, Balanced Regionally
The growth was underpinned by the retail channel, which reached €3.65 billion, also up around 9 %.
Third‑quarter retail sales grew by approximately 8 % year‑on‑year, despite tough comparisons from 2024 when quarterly growth had exceeded 18 %.
Geographically, the group registered double‑digit growth in key regions: Asia‑Pacific: +10 %, Americas: +15 %, Middle East: +21 %, Europe: +6 %, Japan: +3 %.

Miu Miu Outpaces the Flagship
While the broader group is growing, brand‑level performance is differentiated. The flagship Prada brand saw a slight decline in retail sales: –1.6 % across nine months and –0.8 % in Q3 alone.
In contrast, the younger label Miu Miu continued its strong growth trajectory: +41 % for the nine months and +29 % in Q3.
Group Chairman Patrizio Bertelli noted: “The consistency of our results, in a complex macroeconomic environment, confirms the strength of our brands and the validity of our strategy.”
CEO Andrea Guerra added that the performance “testifies to the integrity of our brands and the diligent, robust execution of our teams … we remain confident in our trajectory, focusing on products and experiences that excite our customers.”

Strategic and Market Implications
The results come at a moment when the luxury goods sector is under pressure from economic uncertainty, weakened demand in China, inflationary trends and changing consumer behaviour.
The group’s sustained growth – especially via Miu Miu – positions it favourably relative to peers.
Analysts point out that while flagships like Prada are facing soft patches, brands like Miu Miu that appeal to younger demographics and broader geographies are gaining traction.
For Prada Group, the balanced performance across regions and the heavy reliance on retail (some 90 % of revenues) provide strategic ammunition.

Headwinds and Watch‑Points
Despite the positive tone, certain caution flags remain:
The Prada brand’s minor decline in its retail channel suggests the flagship may require renewed momentum or repositioning.
Tourist flows (especially in Europe and Japan) are still volatile and could impact growth.
The Chinese market remains a wildcard: while improvement is been flagged, a full rebound is uncertain.
The broader luxury cycle may face headwinds such as currency fluctuations, geopolitical risks and changing generational consumption habits.

Looking Ahead
With nine months behind them and the final quarter ahead, Prada remains committed to its twin pillars of product excellence and brand creativity.
The group emphasizes full‑price, like‑for‑like retail growth and is investing in factory capacity, brand experience and digital channels.
Given the momentum of Miu Miu and the relative stabilisation of Prada’s flagship, the group is well‑positioned to navigate the closing months of 2025 and set up for 2026.