Prada Group's organic sales rose 3% year-on-year to €1.43 billion in the first quarter ended March 31, 2026, excluding Versace. Including the newly acquired Versace, group revenues increased 14% on a constant currency basis. CEO Andrea Guerra described the quarter as challenging amid tough comparisons and global headwinds.
Prada Group's organic sales grew 3% year-on-year in the first quarter of 2026, reaching €1.43 billion. This figure excludes Versace, which the group consolidated at the end of 2025. With Versace included, revenues climbed 14% on a constant currency basis, the company announced on Thursday's earnings call, April 30, 2026. CEO Andrea Guerra noted, “We are certainly living through a prolonged, challenging, and unique period for our business, for the industry, and for the world.” He highlighted Q1 as the toughest quarter for comparisons, following 13% growth in Q1 2025. The industry faces a phase of significant creativity transformation, with competitors like Dior and Chanel investing heavily in new collections, making it harder for Prada and Miu Miu to stand out. Guerra said the group is sticking to its usual approach rather than reacting to rivals. Miu Miu's growth normalized to 2.4%, down from 60% last year, with balanced performance across categories. Guerra remarked, “In the past five years, we have seen 20% revenue growth in the first year and 20% in the second year, followed by 58%, 93%, and 35% growth — so the bar is very high.” The brand faced headwinds from the Middle East war, soft European sales due to fewer tourists, but saw strong growth in the Americas and solid Asia-Pacific results. Prada brand sales edged up 0.4%, with gains in the Americas, Mainland China, Hong Kong, and Macau offsetting planned outlet reductions. Versace delivered €143 million in net revenues, in line with expectations, benefiting from full-price sales focus and retail improvements. Regionally, Asia-Pacific rose 5% organically, Europe fell 6%, Americas grew 15%, Japan dipped 2%, and the Middle East declined 22% amid conflict. Retail sales increased 1%, wholesale 17%, and royalties 15%. Guerra affirmed, “We’re staying firmly on our strategic path,” emphasizing commitments to high-end and entry-price offerings, organization strengthening, and new growth phases.