PRADA spa
PRESS RELEASEPRADA GROUP REPORTS POSITIVE START TO THE YEAR
WITH RETAIL SALES UP 18% YOY

Milan, 24 April 2024 - The Prada S.p.A. Board of Directors, which convened today,
reviewed and approved the consolidated revenue performance for the first quarter ended
March 31, 2024.
Key highlights (growth percentage at constant currency)•Solid growth with €1,187 mln Net Revenues, up 16% yoy, fueled by the brands’
strong identity, creativity and dynamism•Retail Sales of €1,071 mln, up 18% yoy, driven by like-for-like and full pricevolumes•

Above-market performance of Prada with Retail Sales growth of +7% yoy•Miu Miu remained on strong growth trajectory, with Retail Sales growth of +89%yoy•

Asia Pacific continued to grow with Retail Sales up 16% yoy despite comparison
with re-opening quarter; sustained growth in Europe up 18% yoy; Americas up
5% yoy; strong performance in Japan up 46% yoy; Middle East up 15% yoy

Patrizio Bertelli, Prada Group Chairman and Executive Director, commented:“Our Group continues to make strategic progress as we invest for long-term, sustainablegrowth. Over the first quarter, we delivered a solid performance in a more challenging market
environment. In this context, we have to maintain flexibility and agility to respond to constantly
evolving industry dynamics while continuing to innovate and invest across our business,leveraging the strength of our reinforced organisation and the talent of our people”.
Andrea Guerra, Group Chief Executive Officer, added:“Prada Group had a positive start to the year. During the first quarter Prada experienced solidand above-market growth against a high quarterly basis of comparison; Miu Miu’s strongperformance is a testament to the strategy and disciplined execution implemented over thepast years. We continue to progress in our journey towards retail excellence, enriching ourproduct range and driving customer engagement to nurture our brands’ desirability.
Sharpness of positioning, creativity and communication will be critical this year; while theindustry is experiencing new dynamics, we retain our ambition to deliver solid, sustainable
and above market growth”.

Net Revenues1
Net Revenues
Retail Sales
Wholesale Sales
Royalties

Q1-23
€ mln
1,065953
91
21

Q1-24€ mln1,187
1,07190
25change atreported fx+11%+12%-1%+22%change atconstant fx+16%+18%+0%+22%

High desirability for Prada and thriving momentum for Miu Miu
Prada continues to exhibit high brand desirability, following the well-received FW24
Men’s and Women’s fashion shows. The introduction of Leather Goods novelties, suchas the Buckle Bag, further enriched the category alongside the ongoing reinterpretationof icons. The focus on Prada Re-Nylon collection throughout the quarter reiterated thebrand’s commitment to sustainability.
Miu Miu’s momentum remained very positive, with the highly acclaimed FW24 fashion
show driving brand desirability further. Leather Goods continued to be received very
positively by clients, with both new lines (Ivy and Softy) and icons (Arcadie and Wander)
performing well, also supported by dedicated campaigns. The brand’s collaborations
with Church’s and New Balance contributed to give further dynamism to Miu Miu’sidentity. Consolidated event formats kept elevating the dialogue with the Miu Miu
community worldwide.

Retail Sales (growth percentage at constant currency)
The Retail channel saw continued growth in the period, up 18% yoy, with performance
driven by like-for-like, full price volumes.
Compared with the same period of 2023, Prada Retail Sales increased by +7% yoy; Miu
Miu remained on a strong growth trajectory of +89% yoy.

1 Unaudited figures

Retail Sales by geography 2

Asia Pacific
EuropeAmericas
JapanMiddle East
Retail Sales

Q1-23
€ mln
360
259
173
113
47
953

Q1-24
€ mln
396
295
181
145
54
1,071

change atreported fx+10%+14%+4%+29%+14%+11%change atconstant fx+16%+18%+5%+46%+15%+18%

Solid performance in Asia Pacific up 16% yoy, notwithstanding the comparison with Q123, which marked the elimination of Covid-19 restrictions in the region.
Europe grew +18% yoy, supported by both domestic and tourist spending.
Growth in the Americas slightly improved vs Q4-23 at +5% yoy.
Japan continued to register the highest growth, up 46% yoy, sustained by local
consumption and increasingly by tourists.
Solid growth in the Middle East at +15% yoy.

For further information:
Prada Group Press Officecorporatepress@prada.com
www.pradagroup.com
About Prada Group
Pioneer of a dialogue with contemporary society across diverse cultural spheres and an influential leader in luxury
fashion, Prada Group founds its identity on essential values such creative independence, transformation, andsustainable development, offering its brands a shared vision to interpret and express their spirit. The Group owns someof the world’s most prestigious luxury brands, Prada, Miu Miu, Church's, Car Shoe, the historic Pasticceria Marchesi
and Luna Rossa, and works constantly to enhance their value by increasing their visibility and appeal. The Group
designs, manufactures and distributes ready-to-wear collections, leather goods, footwear and jewelry in more than 70
countries through a network of 606 stores (at December 31, 2023) as well as e-commerce channels, selected e-tailers
and department stores around the world. The Group, which also operates in the eyewear and beauty sector throughlicensing agreements, has 26 owned factories and 14,876 employees.
For more information, please visit www.pradagroup.com.

2 Unaudited figures