The Italian Prada Group, whose portfolio in addition to the brand of the same name also includes Miu Miu and Church's, announced a record annual revenue in 2022, it amounted to 4,2 billion euros, which is 21% higher than in 2021. The largest growth was shown by such categories as footwear, clothing and leather goods.
“The Prada Group achieved excellent results in 2022, supported by brand dynamics, increased customer engagement and strict adherence to the adopted strategy,” commented Prada Group CEO Patrizio Bertelli.
For the year, Prada Group's revenue increased by 21% to 4,2 billion euros. Footwear and apparel are the most dynamic product categories, with footwear and apparel sales up 29% and 27% respectively. Sales of leather goods increased by 18%. Retail sales rose 24% to reach 3,7 billion euros, supported by organic growth from both Prada and Miu Miu.
The Hong Kong-listed group accelerated in all markets except its largest, the Asia-Pacific region, which recorded growth of only 2% (excluding currency fluctuations) due to the coronavirus epidemic in China, but here, too, the group's sales still well over a billion euros. The best sales figures were recorded in Europe (+63% (Fx) ), Japan (+31%), followed by the Middle East (+23%) and America (+22%).
As of December 31, 2022, the company's Adjusted EBIT increased by 69% to €845, while the margin increased from 14,8% to 20,1%. Profit Prada Group rose by 58% to 465 million euros, which on average was higher than analysts' forecasts.
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