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Prada Revenues Surge Past Pre-Pandemic Levels

Spiderman star Tom Holland posed for Prada's latest campaign.
Spiderman star Tom Holland posed for Prada's latest campaign. (Prada)

Prada Group reported 2021 revenues that grew 41 percent year-on-year to E3.36 billion ($3.83 billion) , closing the year up 8 percent compared to 2019′s pre-pandemic levels.

For over a year, Prada has been flagging a strong recovery in retail sales, but overall revenues continued to trail pre-pandemic levels due to a slower rebound in the wholesale as well as at its smaller MiuMiu and Church’s labels.

Surging sales in Prada’s retail business helped the company to finally turn a corner. Second-half sales for directly-owned stores and e-commerce accelerated to grow 21 percent versus 2019 levels, compared with a two-year growth rate of 8 percent during the first half.

Operating profit increased “significantly” due to lower discounting and less reliance on wholesale, the Milan-based company said in its statement Tuesday.

Learn More :

Prada’s Next Chapter

After a lengthy turnaround, CEO Patrizio Bertelli outlined ambitious growth plans for the brand, laying the ground to hand over control to his and Miuccia Prada’s son Lorenzo.

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