Prada’s red-hot Miu Miu label continues to buck slowing demand for luxury goods, with retail sales nearly doubling in the first half, the company reported Tuesday.
The brand’s first-half retail sales jumped by 93 percent year-on-year, accelerating slightly from 89 percent growth in the first quarter. Flagship Prada brand’s retail sales rose 6 percent, slowing slightly versus the start of the year.
Overall, growth held steady at Milan-based Prada Group, with net revenues rising 17 percent to €2.55 billion ($2.76 billion).
Prada’s management team will comment on the results in a call with analysts and investors Tuesday afternoon.
Stay tuned to BoF for updates to this developing story.
