Italy’s Prada Group’s H1 revenue rises 16% on strong retail growth
For the six months ended 30 June 2026, Prada Group reported consolidated net revenues of €3,048 million (~$3.75 billion), representing a 16 per cent year-on-year (YoY) increase at constant currency. Retail sales grew 12 per cent YoY to €2,633 million (~$3.24 billion), while wholesale sales surged 40 per cent to €299 million (~$368.3 million).
Prada Group reported H1 FY26 net revenues of €3.05 billion (~$3.75 billion), up 16 per cent YoY at constant currency, driven by strong retail and wholesale growth despite geopolitical uncertainty.
Prada and Miu Miu remained resilient, while the Americas and Asia Pacific led regional gains.
The group maintained solid profitability and continued investing in brands and retail.
“In a geopolitical and macroeconomic scenario that remained turbulent, we continued to execute with rigour. Our commitment to the highest standards of product excellence, nurturing craftsmanship and creativity as non-negotiable pillars, allowed us to reach 22 quarters of uninterrupted organic growth,” said Patrizio Bertelli, chairman and executive director, Prada Group.
“The environment is likely to remain volatile; we must stay nimble, innovate continuously taking advantage of the strength of our manufacturing know-how, and continue to balance short-term discipline with long-term vision,” added Bertelli.
The adjusted earnings before interest and tax (EBIT) reached €530 million (~$652.3 million), with an EBIT adjusted margin of 17.4 per cent, compared to 22.6 per cent in the prior year. Group net income was €327 million (~$402.9 million), with a margin of 10.7 per cent.
The gross profit stood at €2,388 million (~$2.94 billion), with a gross margin of 78.3 per cent, while capital expenditure for the period was €226 million (~$278.2 million), the company said in a press release.
Prada and Miu Miu deliver resilient H1 performance
Brand-wise, Prada retail sales advanced 3.3 per cent YoY in H1, accelerating to 6.3 per cent in Q2, driven by like-for-like, full-price sales and dynamic product offerings. Miu Miu delivered a 2.5 per cent YoY increase, with Q2 retail sales in line with Q1 despite challenging comparisons. Versace contributed €305 million (~$375.3 million) in net revenues, progressing in line with expectations.
“We close the first six months of the year with solid results, accelerating in the second quarter on a positive Q1. At Prada, the team effort resulted into a strong Q2 performance, and we will continue to work relentlessly across product, retail and communication to drive the brand towards its full potential. At Miu Miu, the foundations built during the years sustained relevance and desirability against a still challenging comparison base,” said Andrea Guerra, group chief executive officer, Prada Group.
Americas and Asia Pacific drive regional growth
Regional performance was led by the Americas, where retail sales climbed 37 per cent YoY to €572 million (~$704.1 million) in H1, and Asia Pacific, which grew 15 per cent to €922 million (~$1.135 million). Japan returned to growth, up 6 per cent to €288 million (~$354.8 million), while Europe rose 5 per cent to €752 million (~$927.6 million), supported by recovering tourist and local demand. The Middle East declined 24 per cent YoY to €98 million (~$120.4 million) due to the ongoing conflict, though local consumption showed resilience and improved quarter on quarter.
Margins and profitability remain steady
Gross margin for H1-26 was 78.3 per cent, slightly down from 80.1 per cent in the previous year, reflecting a greater mix of wholesale and the inclusion of Versace. Adjusted EBIT margin stood at 17.4 per cent, compared to 22.6 per cent a year earlier, as the group invested in brand elevation and retail expansion. Net income margin was 10.7 per cent, down from 14.1 per cent in H1 FY25. The group maintained strong cash flow generation, closing the period with a net debt position of €693 million (~$853.5 million), after capital expenditure and dividend payments.
Outlook: Focus on agility and brand strength
Prada Group did not provide specific financial guidance but reaffirmed its commitment to delivering above-market growth, maintaining discipline and agility in a volatile environment. The company highlighted ongoing investment in product innovation, retail execution, and sustainability initiatives as strategic priorities for the remainder of the year.
“The arrival of Pieter Mulier at Versace marks the beginning of the brand’s new creative journey and we are excited to welcome his talent and vision into our Group. Our strategy is clear, our backbone is strong and, while the environment remains disrupted, we are confident in the strength of our brands and their long-term potential. Looking ahead, we will remain disciplined and agile as we pursue our ambition of delivering above-market growth for the Group,” added Guerra.
Fibre2Fashion News Desk