With a profit of 671 million, the footwear and apparel giant delivered results that exceeded expectations!
Release time:
2024-03-19
Recently, Prada handed in a brilliant 2023 year-end report card! In 2023, the group's revenue was 4.726 billion euros, an increase of 17.2% year-on-year at a fixed exchange rate; net profit attributable to the parent was 671 million euros, an increase of 44.25% year-on-year, reaching a historical high, far exceeding market expectations!
Recently, Prada handed in a brilliant 2023 year-end report card! In 2023, the group's revenue was 4.726 billion euros, an increase of 17.2% year-on-year at a fixed exchange rate; net profit attributable to the parent was 671 million euros, an increase of 44.25% year-on-year, reaching a historical high, far exceeding market expectations!
As a leading brand in the luxury industry, Prada owns well-known brands such as Prada and Miu Miu, and is mainly engaged in the production and sales of leather goods, footwear and ready-to-wear. In 2023, Prada's apparel retail sales increased by 30.6%, accounting for 32.2%; footwear business increased by 17.5%, accounting for 18.5%. The leather goods business accounted for the highest proportion, 45.6%, with a growth rate of 7.7%. By brand, among them, Prada brand retail sales increased by 12.1% year-on-year, and the revenue share dropped from 87% in the previous year to 83.3%. The Miu Miu brand continued to shine and became the "carriage" that drove Prada's performance growth.
At constant exchange rates, the Group achieved double-digit growth in all regions (except the Americas, which was flat compared to the previous year). Net retail sales in the Asia-Pacific region increased by 24% to 1.45 billion euros, accounting for 34.5% of total revenue, and the biggest contributor to the increase in sales in the Asia-Pacific region was Chinese consumers. In 2023, after the recovery of the Chinese consumer market, stores will be revitalized, with the strongest growth in the markets of mainland China, Hong Kong, China and Macau, China. Net retail sales in Europe increased by 14% to 1.31 billion euros. Due to exchange rate issues, the Japanese market has become the most favorable region in the world for purchasing luxury goods, with a surge of 43.8% to 484 million euros. In view of Prada's outstanding performance in the luxury market and the strong growth of its financial indicators, several investment companies have recently raised their market expectations.
Keywords：
Contact CHUANYA
1F, No. 85, Jiafu New District, Wulong Village, Cizao Town, Jinjiang City, Quanzhou, Fujian Province, China