Bertelli family patriarch, Patrizio Bertelli, officially announces Lorenzo Bertelli as his successor, designating him as the next CEO.
Prada Group Reports Strong Financial Results for First Half of 2025
Italian luxury fashion house Prada Group has announced impressive financial results for the first half of 2025, with a 9% year-on-year increase in net revenues to 2.27 billion pounds. This growth is a testament to the group's continuing success in the luxury market.
The group's adjusted EBITDA also saw an 8% increase, reaching 513.29 million pounds. Notably, the adjusted EBITDA margin remained steady at 22.6%, equivalent to the previous year.
Retail sales for Prada Group as a whole experienced a 10% year-on-year increase, with all geographical areas recording growth. However, the Prada brand saw a 2% decrease in retail sales compared to the same period last year. On the other hand, Miu Miu posted a significant 49% year-on-year increase in sales.
The group's net profit for the half year amounted to 320.11 million pounds. Despite paying out 325.98 million pounds in dividends and investing 243.85 million pounds, the group's net financial position remained positive at 291.97 million pounds.
Prada Group operates in the eyewear and beauty sectors through licensing agreements and has a global presence with 25 factories and 15,529 employees. The group's clothing, leather goods, footwear, and jewellery collections are available in over 70 countries through a network of 620 directly operated stores, direct e-commerce, selected e-tailers, and department stores worldwide.
Lorenzo Bertelli is set to take over as CEO of Prada Group on January 1, 2024, succeeding Patrizio Bertelli, who will continue to serve as Executive Chairman. Bertelli's appointment is expected to bring fresh leadership to the group as it continues to navigate the dynamic luxury market.
These strong financial results bode well for Prada Group's future, as the luxury fashion industry continues to recover from the challenges posed by the pandemic. With a robust portfolio of brands, a global retail presence, and a new CEO at the helm, Prada Group is well-positioned to maintain its position as a leading player in the luxury fashion market.
