Solid semester for Prada which closed the January-June period with declining profitability, but with growing revenues and sales, thanks above all to the acceleration recorded in the second quarter.
Prada: Revenues up 16% to €3 billion
Prada closed the first six months of 2026 with net revenues of 3,048 billion of euros, up 16% year-on-year or +5% organic. In the second quarter growth was 7%. In details, retail sales amounted to 2,633 billion, up 12% year-on-year and 3% organically, on a challenging comparison basis, which had seen 10% growth in the same period of 2025. In the second quarter alone, retail sales accelerated to +5% organic, despite a more marked impact of the conflict in the Middle East.
Prada and Miu Miu sales grow, Versace generates 305 million in revenue
In the semester the retail sales of the Prada brand recorded growth of +3% year-on-year, with a further strengthening to +6% in the second quarter, “driven by like-for-like and full price”, explains the group's note, i.e. on the same comparison basis and items sold at full price.
Retail sales of MIU MIU rose by +3%, with a second quarter in line with the first, against a more marked exposure to the Middle East and a comparison base of +40% boasted in the second quarter of last year. Finally Versace, the brand recently acquired by the American group Capri, recorded “a performance in line with expectations, with net revenues of 305 million euros in the first half of the year”.
Prada grows in all geographical areas except the Middle East at -24%
The note highlights the sequential improvement in all geographic areas with the exception of the Middle East where the conflict between the US and Iran weighs.
At a geographical level thePacific Asia continued to show solidity, with growth of +15% year-on-year and +6% organically. Europe It grew by 5%, but contracted by 4% organically. In the second quarter, it contained the decline to 2% thanks to a recovery in tourism spending and local demand.
Strongly growingand Americas, which recorded a +37% year-on-year growth, +17% organically, with an accelerating second half thanks to increased local demand; both Prada and Miu Miu continued to benefit from the strengthening of their respective organizations and the investments of recent years. The trend was also positive in Japanand, up 6% year-on-year, +2% organically, with an improvement in the second quarter thanks to the strength of the local clientele and the increase in tourist demand.
The sore point is the Middle East, which contracted 24% year-over-year, or 24% organically, due to the ongoing conflict throughout the second quarter; local demand remained relatively resilient, improving on a quarterly basis.
Net profit falls to 327 million
Moving on to the other parameters of the income statement, theadjusted ebit is 530 million, down from 619 million the previous year. The margin was 17,4%, Including Versace and the impact of exchange rates. In the same period in 2026, it had been 22,6%. Net profit decreased to 327 million, down 15,28%.
“Thanks to solid cash generation, the group closed the period with a net debt of 693 million of euros, after the payment of dividends of 403 million and Capex of 247 million", the press release reads.
Comments by Bertelli and Guerra
In a turbulent geopolitical and macroeconomic scenario, we have continued to execute our strategy with rigor", commented Patrizio Bertelli, Chairman and Executive Director of the Prada Group, adding: "the constant commitment to product excellence, supported by craftsmanship and creativity, which have always been essential elements, has allowed us to achieve 22 consecutive quarters of organic growth”-
For Bertelli, the context will remain uncertain. “We must remain agile and constantly innovate, leveraging our industrial structure and maintaining a balance between short-term discipline and long-term vision,” he concluded.
CEO Andrea Guerra commented: “We close the first half of the year with solid results, supported by an accelerating second quarter after a strong start to the year,” noted Andrea Guerra, CEO of the Group. “Prada recorded a very positive performance in Q2, and we will continue to invest in product, retail, and communications to support the brand towards its full potential. Miu Miu has confirmed its relevance and desirability, thanks to a solid and coherent path developed over the years, despite a still challenging basis for comparison. The entry of Pieter Mulier in Versace marks the beginning of a new journey creative for the brand, and we are thrilled to welcome his talent and vision within the Group. Our strategy is clear and our brands have solid foundations; looking to the coming months, we will maintain discipline and dynamism in our execution, pursuing the Group's ambition of generating sustainable, above-market growth."
