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Prada Group’s retail sales accelerated at year end, rising 17 percent in the fourth quarter, the Milanese fashion giant reported Thursday. Analysts had predicted 14 percent growth.
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The Milanese group, which also owns Miu Miu and Church’s, leveraged a partnership between Miuccia Prada and Raf Simons to generate record sales. A Thursday presentation gave investors a first peek at Prada’s future plans under new leadership.
Miu Miu's first-half revenues jumped 50 percent year on year as runway relevance translated into sales. The group’s flagship Prada brand grew 18 percent.
The 35 year-old former racecar driver — son of designer Miuccia Prada and chairman Patrizio Bertelli — is restructuring the Milanese group from the inside out. ‘Everything’s changing so that everything can stay the same,’ said the BoF 500 cover star about readying Prada for its next chapter.
Robert Williams is Luxury Editor at The Business of Fashion. He is based in Paris and drives BoF’s coverage of the dynamic luxury fashion sector.
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