Italian luxury fashion group Prada reported solid revenue growth in the first half of 2026 despite a decline in profits, as the company continues integrating Versace and navigates a volatile global luxury market. Net revenues increased 16% to €3.05 billion, driven by strong consumer demand, particularly in the Americas.
Excluding the contribution from Versace, which Prada acquired in 2025, organic revenue grew by 5%, while the group’s underlying profitability remained broadly in line with last year. However, adjusted operating profit fell by around 14%, reflecting the costs of relaunching and restructuring the iconic Italian fashion house.
Chief Executive Officer Andrea Guerra said Prada delivered stronger momentum during the second quarter despite continued geopolitical uncertainty and a difficult consumer environment. The flagship Prada brand accelerated its retail growth, while Miu Miu continued expanding at a more moderate pace after its exceptional performance in 2025.
The Americas remained the company’s strongest-performing region, with sales rising approximately 17%. Asia-Pacific and Japan also posted positive results, while Europe showed signs of recovery during the second quarter after a weaker start to the year. The Middle East remained the weakest market, with sales declining by about 24–25% because of the regional conflict.
Prada is placing particular emphasis on reviving Versace, which contributed around €305 million in revenue during the first half of the year. The appointment of Belgian designer Pieter Mulier as the brand’s new Creative Director marks the beginning of a new creative chapter that management hopes will strengthen Versace’s long-term global position.
Despite weaker earnings, Prada’s leadership remains optimistic. Chairman Patrizio Bertelli noted that the company has now achieved 22 consecutive quarters of organic growth, while CEO Andrea Guerra reaffirmed the group’s strategy of investing in product quality, retail expansion, and brand development to deliver growth above the global luxury market average.
Sources: Reuters, Prada Group.
