Summer Edition: Unbeatable Prada
And Gucci Hell's Kitchen, and some Miu Miu management highlights and Tips for Management
Unbeatable Prada
2024 is finally the year Prada got its long plotted and perfectly executed revenge on Gucci and several other brands that have been successful in the past years.
Picture from Prada.com
Prada revenues trend growth was confirmed also for first half 2024 when last Tuesday, July 30th, the company announced “an increase of 17% in net revenue at constant exchange rates, to 2.55 billion euros ($2.75 billion)” source Yahoo Finance.
“Retail sales at the Miu Miu label, whose creative director is Miuccia Prada, almost doubled in the first six months of the year and now account for nearly a quarter of the group's retail sales. Retail sales of the larger Prada brand rose by 6%.”
Prada is clearly taking the place that brands in disgrace such as Gucci and Balenciaga, among others, are losing in the key markets.
Prada Group EBIT margin for first half 2024 is +22% and the Kering EBITDA is -28%.