In its preliminary annual report, Prada Group announced that sales in 2021 were above pre-pandemic levels. The Italian luxury group's FY 2021 revenue reached €3,36bn, according to Worldfootwear.com.
“2021 has been full of challenges, but we have risen to the occasion and responded quickly to the needs of an extremely dynamic marketplace with measures that have enabled us to effectively understand changes in consumer behavior. Prada Group has the capacity and resources to stand out and achieve its growth goals,” commented Prada CEO Patrizio Bertelli.
Overall, in 2021, Prada sales grew by 41% and 8% (excluding currency fluctuations) compared to 2020 and 2019, respectively, thanks to increased retail channel efficiency.
In the second half of the year, the group registered an improvement in sales and operating income. Direct sales, including e-commerce (excluding currency fluctuations), grew over the period by 27% compared to the same period in 2020 and 21% compared to 2019. Prada recorded a significant increase in EBIT, underpinned by stronger retail sales and sales growth at full price. The Italian fashion house also noted that the company is currently restructuring the wholesale channel.