Prada posts slight third-quarter sales growth as luxury demand stays weak
Luxury demand remains under pressure across key markets, but Prada reports a modest rise in third-quarter sales that meets market expectations. The performance reflects continued strength in the Americas and stable Asia-Pacific revenue, even as Miu Miu slows after driving much of the group's growth in 2025.
Highlights
- Prada's third-quarter organic revenue rises 1%, with group revenue at 1.49 billion euros ($1.67 billion), matching Visible Alpha analyst consensus.
- Miu Miu retail sales decline 3% in the quarter, while the Versace integration progresses ahead of Pieter Mulier's first collection debut in 2025.
- Sales growth slows in the Americas, remains stable in Asia-Pacific despite weak China traffic, and European sales stay weak, reflecting uneven luxury demand.
Third-quarter revenue and brand performance
As reported by Reuters, Prada says third-quarter organic revenue rises 1%, excluding Versace, the brand it acquired in December last year. Including Versace, group revenue totals 1.49 billion euros, or $1.67 billion, in the quarter, matching an analyst consensus compiled by Visible Alpha.The company says the integration of Versace is progressing on track, ahead of the debut next year of the first collection by new creative director Pieter Mulier. Miu Miu, which had driven the bulk of the group's growth in 2025, records a 3% decline in retail sales in the quarter.
Chief Executive Andrea Guerra says in a statement that the quarter unfolds against a particularly challenging industry backdrop, adding that the group shows resilience supported by brand desirability and strong retail execution.
Regional trends highlight uneven luxury market conditions
The quarter is supported by continued growth in the Americas, although at a slower pace than in the previous quarter. In Asia-Pacific, sales are stable as subdued traffic in mainland China is offset by continued positive trends in other parts of the region.Europe remains weak, underlining the uneven recovery in the luxury sector. Prada's ability to hold revenue growth in that environment suggests the group is still outperforming parts of the market, even as momentum at Miu Miu moderates.
In our earlier article on Europe’s uneven recovery and credit outlook, we noted that IMF forecasts pointed to a fragmented growth picture, with Germany, the UK and Spain showing more resilience while France lagged. We also highlighted how inflation risks, tight fiscal room and competitiveness issues can tighten borrowing conditions and pressure sensitive sectors, including luxury names, in weaker European markets.
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