Italian luxury group Prada reported first-half revenue of US$3.50 billion (€3.04 billion), up 16% year-on-year, as strength in the US and China helped offset a slowdown at Miu Miu and headwinds from the Middle East conflict.

Prada Group posted net revenues of US$3.50 billion (€3.04 billion) for the first half of 2026, up 16% year-on-year at constant currency (+11% at reported exchange rates), with organic growth of 5%. The group said growth accelerated to 7% organic in the second quarter at constant currency, up from 3% in the first quarter. Retail sales rose 12% year-on-year to US$3.03 billion (€2.63 billion), while wholesale sales climbed 40% to US$344 million (€299 million) and royalties increased 73% to US$134 million (€116 million). Earnings before interest and taxes fell to US$602 million (€523 million), from approximately US$660 million (€607 million) a year earlier, while group net income declined to US$376 million (€327 million) from €386 million in H1 2025.

By brand, the flagship Prada label recorded a 3.3% rise in retail sales for the half, accelerating to 6.3% in the second quarter. Miu Miu posted a 2.5% increase in retail sales, with second-quarter growth of 2.6%, in line with the first quarter, as the group cited a more pronounced impact from the Middle East conflict and tough comparatives against 40% growth in the same period last year. Versace, acquired earlier this year, generated net revenues of US$351 million (€305 million) and was described by the group as performing in line with expectations, with Pieter Mulier’s July arrival marking the start of the brand’s creative repositioning.

Regionally, Asia-Pacific retail sales rose 15% at constant currency to US$1.06 billion (€922 million), while Europe grew 5% at constant currency but fell 4% organically to US$866 million (€752 million), with the group noting Q2 improved to -2% organic on a recovery in both tourist spending and local demand.

Patrizio Bertelli, Prada Group’s Chairman and Executive Director, said the group had continued to execute “with rigour” against a turbulent geopolitical and macroeconomic backdrop, crediting the company’s 22 consecutive quarters of organic growth to its “commitment to the highest standards of product excellence.” He added that “the environment is likely to remain volatile,” and that the group must “stay nimble” and “balance short-term discipline with long-term vision.”

Andrea Guerra, chief executive of Prada Group, said the group closed the half with “solid results, accelerating in the second quarter on a positive Q1,” crediting a strong Q2 at Prada to team execution “across product, retail and communication.” He said Miu Miu’s brand foundations had “sustained relevance and desirability against a still challenging comparison base,” and that the group would “remain disciplined and agile” as it pursues its ambition of “delivering above-market growth.”