Prada Group
The 15% duty on US-bound goods fuels the already uncertain landscape for houses like Louis Vuitton, Gucci, Chanel, and Hermes.
Prada Group reported a 13% revenue increase in Q1 — boosted by Miu Miu.
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The €1.25 billion deal welcomes the Italian luxury house into the brand family of Prada and Miu Miu.
While neighboring luxury fashion houses face declining sales amid an industry-wide downturn, Miu Miu reports a record year with 93% retail growth, and Prada’s sales chart 4% higher.
The Milan-based company has agreed to a price, and future discussions could result in a deal by the end of this month.
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The company reports a positive outlook despite the global luxury slowdown effecting major competitors like LVMH and Kering.
The Prada-owned brand has been steadily growing since 2021.
The company’s net profit saw a 62% increase from the same period last year.
The flagship Prada brand reported a 21% increase in retail sales, while Miu Miu saw those figures fly up 42%.
