Prada Group: 11% Growth in Q3 2026. Miu Miu is Slowing Down

The retail network, which generates nearly 87% of revenue, generated 3.93 billion euros in revenue, representing an 11% increase, but only 2% on an organic basis. This slowdown once again reflects the widespread trend toward more cautious luxury spending.

The Prada brand posted a 2% increase in retail sales over the nine-month period, including a 1% rise in the third quarter. Miu Miu, long a growth driver for the group and accustomed to remarkable performance in recent years, grew by only 1% over the period, in contrast to the 41% surge recorded a year earlier. This slowdown reflects a normalization of growth: sales actually declined by 3% in the third quarter, compared to a particularly high baseline.

The acquisition of Versace contributed 441 million euros in revenue over the nine-month period. Its integration is now a major strategic priority for Prada: the Bertelli family-owned group is staking a significant part of its future on creative director Pieter Mulier, who will present his first collection in 2027.

Geographically, performance remains mixed. The Americas grew by 33% over the nine-month period, including 13% organic growth, and remained the most dynamic market in the third quarter. The Asia-Pacific region, meanwhile, grew by 12% (+5% organic), despite low foot traffic in stores in mainland China. In contrast, Europe posted a 5% increase, but a 3% decline on an organic basis. In the Middle East, business declined by 23%, heavily impacted by conflicts, which cast uncertainty over the region’s outlook.

In light of these conditions, CEO Andrea Guerra intends to prioritize strengthening the brands’ creative identity. In Milan, the new Prada spaces in the Galleria Vittorio Emanuele II exemplify this strategy. The Italian group has also invested in its manufacturing facilities, opening an integrated leather goods production center in Piancastagnaio, Tuscany.