PRADA spa
PRESS RELEASEPRADA GROUP CONTINUES TO DELIVER SOLID PERFORMANCE
Retail Sales +17% in the nine months ended 30 September 2023
Milan, 31 October 2023 – The Prada S.p.A. Board of Directors today reviewed andapproved the consolidated revenue performance for the nine months ended 30
September 2023.
Key highlights (growth percentage at constant currency)•Excellent reception of Prada’s SS24 show, reflecting strong brand andcreative momentum•Miu Miu’s strategy bearing fruit, with continued outperformance•Net Revenues of €3,344 mln, +17% yoy•

Retail Sales of €2,979 mln, +17% yoy, with Prada +13% and Miu Miu +49%;
Q3-23 +10% yoy, notwithstanding the very challenging basis of comparison•

Asia Pacific, Japan and Europe drove growth regionally, with nine months
Retail Sales growth of +21%, +47% and +17%, respectively; Middle East
+12% and Americas -1%•Growth across all product categories, led by Ready-To-Wear at +32% yoy;
Leather Goods +8%; Footwear +16%

Patrizio Bertelli, Prada Group Chairman and Executive Director, commented:“Our strategy delivered solid growth in the first nine months of 2023, including in the thirdquarter, notwithstanding the very challenging basis of comparison. The Group continued
to consolidate its brands’ desirability and accelerated investments as planned. Looking
ahead, we are focused on enhancing innovation and dynamism, drawing on the strengthof our reinforced organisation, and on retaining the flexibility that characterises our Group”.
Andrea Guerra, Group Chief Executive Officer, added:“In the third quarter, Prada remained on a sound growth trajectory, driven by solid full pricelike-for-like sales. Miu Miu continued to deliver a strong performance across all
geographies and categories. In an uncertain geopolitical and economic backdrop that
requires us to stay vigilant, we continue to see positive momentum in the business andstrong excitement around our brands, positioning us well for Q4 and vis-à-vis our ambition
to deliver solid, sustainable, and above-market growth in 2023.”

Net Revenues1

Net Revenues
Retail Sales
Wholesale Sales
Royalties

9M-22
€ mln
2,976
2,653
279
44

9M-23
€ mln
3,344
2,979
291
73

change atreported fx+12%+12%+4%+67%change atconstant fx+17%+17%+6%+67%

Brand momentum continues for Prada and Miu Miu
Prada’s brand and creative momentum supported solid sales growth in the first ninemonths of 2023. In Q3-23, the SS24 Women’s show had an excellent reception,celebrating the brand's 110-year history, reinterpreting its authentic design codes andcultural identity. Ready-to-wear and Footwear collections kept resonating strongly withclients. In Leather Goods, the focus on strengthening icons continued, drawing on thesuccess of Galleria’s campaign in Q2, alongside the unveiling of new successful styles.
In addition, the third quarter saw the launch, to great acclaim, of Prada Beauty Makeup
and Skincare lines.
After the closing of the quarter, Prada announced the partnership with Axiom Space on
NASA’s lunar spacesuits for the Artemis III mission. The partnership leverages PradaGroup’s decades of experimentation, cutting-edge technology and design know-how
which started back in the ‘90s with Luna Rossa challenging for the America’s Cup.
Miu Miu confirmed its outstanding growth momentum delivering a strong performanceacross the nine-month period, supported by the growing brand awareness andincreasingly strong client connections globally. The FW23 campaign “Miu Miu Live!”
drove excitement along with an excellent reception of the last shows and recent
collections. The brand saw sustained growth across all categories, including in Leather
Goods with the “Wander” and “Arcadie” bags, confirming the brand’s modernity andstrong appeal.
After the closing of Q3-23, Miu Miu’s SS24 show again achieved an outstanding
response.

High-quality Retail Sales growth throughout the period (growth percentage atconstant currency)
The Retail channel delivered +17% yoy growth over the nine months, with a solid Q3
performance of +10% yoy, on a very challenging basis of comparison (+32% for Q3-22).
Growth continued to be supported by both average price and full price volumes.
Retail Sales of the Prada brand increased by +13% yoy in the period, and Miu Miu by+49%.

1 Unaudited figures

Retail Sales by geography2

Asia PacificEuropeAmericas
Japan
Middle East
Retail Sales

9M-22
€ mln
910
831
550
249
114
2,653

9M-23
€ mln
1,043
941
536
334
125
2,979

change atreported fx+15%+13%-3%+34%+10%+12%change atconstant fx+21%+17%-1%+47%
+12%
+17%

Asia Pacific progressed well over the first nine months of 2023 at +21% on a volatilebasis of comparison, which saw significant disruption in Q2 and Q4 2022.
Europe grew +17% over the nine-month period, thanks to the strength of demand fromboth domestic clients and tourists, notwithstanding the very challenging basis ofcomparison; Q3 performance remained positive, with solid underlying demand, albeit withmore moderate year-on-year growth, as expected.
The Americas remained substantially stable over the 9-month period at -1%, with a mild
sequential improvement in Q3 vs. Q2.
Japan remained the best performing region seeing sustained growth throughout theperiod at +47%, largely driven by local demand.
Middle East delivered a solid performance, at +12%, in the first nine months of 2023.

For further information:
Prada Group Press Officecorporatepress@prada.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
some of 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 and footwear in more than 70
countries through a network of 603 stores (at June 30, 2023) as well as e-commerce channels, selected e-tailers anddepartment stores around the world. The Group, which also operates in the eyewear and fragrances sector throughlicensing agreements, has 24 owned factories and 14,085 employees. For more information, please visit
www.pradagroup.com.

2 Unaudited figures