Net revenues rose 14% at constant currency to €1.43 billion for the three months ending March 31, 2026, while organic growth, excluding Versace, stood at 3%. Retail sales increased 10% to €1.25 billion, or 1% organically, against what the company described as a challenging comparison base from Q1 2025.
Prada said performance in the retail channel continued to be driven by full-price sales, while outlet contribution continued to decline. The Prada brand delivered what the group called a “resilient performance”, with retail sales up 0.4% at constant currency, supported by improvements in the Americas and Asia Pacific, particularly Mainland China, Hong Kong and Macau.
Miu Miu maintained positive momentum, with retail sales increasing 2.4% against a particularly strong prior-year comparison of 60% growth in Q1 2025. The brand continued to perform strongly in the Americas and Asia Pacific, although this was partly offset by weaker traveller spending in Europe and disruption in the Middle East linked to regional conflict.
Versace contributed €143 million in net revenues during the quarter, with Prada stating that the integration process is progressing in line with expectations. The company said the focus remains on repositioning the brand towards full-price sales while strengthening retail execution and organisational processes ahead of the next phase of creative development.
Regionally, Asia Pacific posted 13% growth at constant currency, driven by continued momentum at Miu Miu and improving trends for Prada across Greater China and South Korea. The Americas rose 34%, supported by strong local demand and recent investments in the region. Europe grew 2%, although organic sales declined 6%, reflecting weaker tourist spending and difficult comparatives from the prior year. Japan rose 1%, while the Middle East declined 22% amid the ongoing conflict in the region.
Chairman and Executive Director Patrizio Bertelli said the company remains focused on creativity, agility and manufacturing capabilities as it navigates continued uncertainty, while Group CEO Andrea Guerra said Prada’s strategy would be key to delivering above-market growth in the coming months.
