SMART FASHION

PRADA GROUP 2025 RESULTS: REVENUE €5.72 BILLION, +5% REPORTED

2026-03-05 12:32
Prada Group closed 2025 with net revenues of €5.72 billion, up 5% from €5.43 billion in 2024. The Versace acquisition, completed December 2, added €65 million in the final month. Excluding that, organic growth at constant currency was 8%, marking 20 straight quarters of expansion.

Retail sales rose 5% to €5.1 billion. Organic retail growth was 8.2%, led by like-for-like and full-price performance. Q4 organic retail sales grew 5.6% against an 18% comp in the prior year.

Brand Breakdown Miu Miu retail sales increased 35% at constant currency for the full year, following 93% growth in 2024. Q4 growth was 20%. Prada brand retail sales fell 1% at constant currency for the year but edged up 0.4% in Q4.

Regional Performance

  • Asia Pacific: +6% to €1.7 billion (+10% organic at constant currency)
  • Americas: +12% to €932 million (+15% organic)
  • Europe: +2% to €1.56 billion (+4% organic), with softer H2 trends from high comps and lower tourism
  • Japan: flat at €656 million (+3% organic)
  • Middle East: +11% to €251 million (+15% organic)

Profit and Balance Sheet Net profit rose 2% to €852 million from €839 million. Adjusted operating profit increased 3.1% to €1.32 billion (23.2% margin, diluted by Versace). Gross profit reached €4.6 billion from €4.33 billion. Capex totaled €617 million, up from €493 million. Net debt stood at €466 million at year-end, versus net cash of €600 million in 2024.

Versace Integration Versace generated €684 million in 2025 revenue and operating losses. Management expects similar losses in 2026 plus some topline contraction during creative transition and channel repositioning to full-price focus. Synergies from operating expense cuts will be reinvested. Full separation from Capri Holdings is targeted for H2 2026. Group margin progression is planned from 2027.

Management Statements Chairman Patrizio Bertelli: “The desirability of our brands remains rooted in creativity, consistency and authenticity. Our manufacturing platform is a key strength.” CEO Andrea Guerra: “Meticulous execution continued to underpin the progress of our brands… Prada showed good resilience; Miu Miu delivered yet another year of remarkable growth.” Guerra added the group targets above-market growth, with organic margin improvement ex-Versace.

These results were achieved in a high-comps environment. Versace’s integration and margin trajectory will be key variables for 2026.