Prada Group's net revenue in the first quarter of 2025 increased by 13% to 1,341 billion euros. The driving force of the group was the Miu Miu brand, thanks to the development of the leather goods category, writes laconceria.it.
Miu Miu's sales grew by 60% in the first quarter of the year, below the 84% growth in the previous fourth quarter of 2024, but the highest growth rate in the luxury fashion category. Miu Miu's share of the group's total revenue was 377 million euros, or 31%.
Leather goods remain Miu Miu's fastest growing category, thanks in part to impactful initiatives such as the Leathergoods SS'25 campaign, which highlights Miu Miu's new matelassé suede, featured in the Wander and Arcadie bags.
American top model Gigi Hadid was involved in the advertising shoot for the project. Photographer Steven Meisel presented a photo shoot where each image was hand-drawn using digital technology. The images combine painting and photography - an artistic technique intended to convey the idea of a connection between the past and the future.
The Prada brand remains stable (€827 million) "against a very challenging quarterly comparative base." This represents a slowdown compared to the 4% growth in the fourth quarter of 2024. The Church's brand grew by 2%.
The results show double-digit growth in all geographies, including China and the Americas. Miu Miu products are popular all over the world. Prada, which announced the acquisition of Versace on April 10, confirmed that the deal is expected to close in the second half of 2025, subject to regulatory approval.
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