Retail sales for the group were up by 12% (17% at constant currency) to €2.98 billion, while wholesale had growth of 4% (6% at constant currency) to €291 million.

The Prada brand had retail sales growth of 13% at constant currency, while Miu Miu was up by 49% year-on-year.

The group highlighted constant currency growth of 32% year-on-year for its ready-to-wear category, while leather goods was up by 8% and footwear grew by 16%.

In the Asia Pacific, retail sales were up by 15% (21% at constant currency) to €1.04 billion in the first nine months of the year, while Europe had growth of 13% (17% at constant currency) to €941 million. The Americas had a decline of 3% (1% at constant currency) to €536 million, while Japan was up by 34% (47% at constant currency) to €334 million and the Middle East grew by 10% (12% at constant currency) to €125 million.

Prada Group CEO Andrea Guerra said: “In the third quarter, Prada remained on a sound growth trajectory, driven by solid full price like-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 and strong 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.”