This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Credit: Pixabay/CC0 Public Domain For its recent Spring/Summer 2025 show, fashion brand Diesel filled a runway with mounds of denim offcuts, making a spectacle of its efforts to reduce waste. Haunting yet poetic, the "forgotten" byproducts of fashion production were reclaimed and repurposed into something artful. But the irony ...

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Financial Data and Key Metrics - Net revenues reached €2.55 billion, up 17% YoY at constant FX, with a negative FX impact of 330 basis points leading to a 14% increase at current exchange rates [43] - Retail sales grew 18% YoY to €2.26 billion at constant FX, with EBIT reaching €575 million, a 26% increase YoY, and EBIT margin expanding to 22.6% [43][3] - Net income increased by 26% YoY to €383 million, while CapEx for H1 2024 was €169 million, allocated to retail, IT, and industrial infrastructure [3] - Operating costs increased by 14% at constant FX, driven by client-facing initiatives and digital/IT investments, with G&A costs rising from 6.6% to 7% of revenue [2] Business Line Performance - Retail sales grew 18% YoY, driven by full-price like-for-like volumes, with wholesale up 8% and royalties increasing 28% [36] - Prada retail sales grew 6% YoY, with a 5% increase in Q2 despite tougher comparisons in Asia Pacific [110] - Miu Miu retail sales surged 93% YoY, contributing 23% of group retail sales, up from 14% in H1 2023 [87] - Church's also performed well, with a 15% increase in retail sales [87] Regional Performance - Asia Pacific retail sales grew 12% in H1, with Q2 up 8% despite tougher comparisons [1] - Europe saw an 18% increase in retail sales, with Q2 growth of 19% driven by strong local demand and tourism [1] - Americas retail sales grew 7%, with Q2 showing a sequential improvement of 9% [1] - Japan was the best-performing region, with retail sales up 55% in H1 and accelerating to 65% in Q2 [1] - Middle East retail sales grew 20% in H1, with acceleration in Q2 [1] Strategy and Industry Competition - The company reiterated its commitment to delivering sustainable, above-market growth, focusing on brand investment and agility in a challenging market environment [5] - Prada and Miu Miu are positioned to capture unique identities, with strong traction in ready-to-wear, footwear, and leather goods [85][87] - The company is investing in vertical integration and manufacturing capabilities, with €50 million allocated to industrial initiatives in H1 2024 [3] Management Commentary on Market Conditions - Management noted a more complicated environment in China, with easier trends in other regions, and emphasized vigilance and agility in navigating market challenges [7][15] - The company expects operating leverage to improve in H2, with moderated OpEx growth and continued focus on cost control [22][100] Other Key Information - The group maintained a solid balance sheet with a net cash position of €265 million as of June 2024 [37] - ESG initiatives progressed, with 80% of raw material suppliers engaged in sustainability programs and 70% of leather procurement covered by traceability systems [86] Q&A Summary Question: Demand in China and offsetting with Chinese spending abroad - Management noted no drastic changes in trends in July, with China becoming more complicated while other regions eased [7] Question: Miu Miu's operating margin compared to Prada - Miu Miu's profitability is improving significantly due to productivity gains, but reinvestment is needed to sustain growth [58] Question: Retail footprint and store openings - The company closed 10 Prada stores and 4 franchise stores in H1, with plans for marginal growth in store openings in 2025 [18][44] Question: Pricing strategy - Price increases in H1 were in the low single digits, with mid-single-digit increases expected for the full year [20] Question: OpEx leverage and EBIT margin expansion - Management expects more visible operating leverage in H2, with moderated OpEx growth and improved revenue growth [22] Question: Regional performance in Europe and Japan - Europe saw low double-digit growth in Q2, while Japan maintained strong performance with 65% local and 35% tourist sales [72] Question: Gross margin outlook for H2 - No major changes in industrial gross margins are expected, despite some FX headwinds [29] Question: Online business penetration - Online penetration is around 8-9%, with higher rates in the US, but the focus is on full potential rather than specific penetration levels [70] Question: Category performance and jewelry launches - Ready-to-wear and footwear showed strong traction, with leather goods also performing well [123] Question: Synergies between Prada and Miu Miu - The two brands are increasingly independent, with 80% of operations now separate, but Prada supports most of the shared infrastructure costs [127]

Since the last time I wrote about the luxury fashion stock Prada (OTCPK:PRDSF) (OTCPK:PRDSY) in November last year, its price is up by 35% and the total returns are even bigger at 37%. This is an impressive increase, and in stark contrast with my Sell rating on it at the time, which was based on slowing down in its sales growth, compounded with the likelihood of a slowdown in the luxury sector and its elevated market multiples compared with peers. Rise in luxury stocks and company level developments Until e ...

Prada S.p.A. (OTCPK:PRDSY) Sales Call April 24, 2024 8:00 AM ET Company Participants Andrea Guerra - Chief Executive Officer and Executive Director Andrea Bonini - Chief Financial Officer Conference Call Participants Chris Huang - UBS Edouard Aubin - Morgan Stanley Chiara Battistini - JPMorgan Melania Grippo - BNP Paribas Erwan Rambourg - HSBC Louise Singlehurst - Goldman Sachs Thomas Chauvet - Citi Charles Louis Scotti - Kepler Cheuvreux Liwei Hou - CICC Chris Gao - CLSA Operator Good day, and thank you fo ...

Prada S.p.A. (OTCPK:PRDSY) Sales Call April 24, 2024 8:00 AM ET Company Participants Andrea Guerra - Chief Executive Officer and Executive Director Andrea Bonini - Chief Financial Officer Conference Call Participants Chris Huang - UBS Edouard Aubin - Morgan Stanley Chiara Battistini - JPMorgan Melania Grippo - BNP Paribas Erwan Rambourg - HSBC Louise Singlehurst - Goldman Sachs Thomas Chauvet - Citi Charles Louis Scotti - Kepler Cheuvreux Liwei Hou - CICC Chris Gao - CLSA Operator Good day, and thank you fo ...

Prada S.p.A. (OTCPK:PRDSY) Q4 2023 Earnings Conference Call March 7, 2024 8:00 AM ET Andrea Bonini - Chief Financial Officer Lorenzo Bertelli - Marketing Director & Head of CSR Conference Call Participants Luca Solca - Bernstein Louise Singlehurst - Goldman Sachs Thierry Cota - Societé Generale Good day, and thank you for standing by. Welcome to the Prada Group Full Year 2023 Results Presentation. At this time, all participants are in listen-only mode. After the speakerÂ's presentation, there will be a ques ...

March 7th 1 2024 FY-23 Results Presentation Milan, March 7th 2024 The information contained in this document is for information purposes only and does not constitute an offer, solicitation, invitation or recommendation to subscribe for or purchase any securities, or other products or to provide any investment advice or service of any kind. This document is not directed at, and is not intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution or use wo ...

Prada, the designer fashion brand, saw its profits soar 44% higher in 2023, highlighting the luxury sector’s strong performance last year. Profits at the Italian group jumped to €671 million in the 2023 financial year, driven in part by the “exceptional momentum” of its Miu Miu brand. Sales at the bag and shoe brand rose 58% year-on-year, Prada revealed. Patrizio Bertelli, Prada chairman, said: “We are pleased with the strong results achieved in 2023, underpinned by our brands’ desirability. “The Group deli ...

Although Fifth Avenue in Midtown reigns as the world’s priciest-to-rent shopping corridor with sidewalk-level stores charging $2,000 per square foot, according to Cushman & Wakefield, there soon might not be anywhere left to rent.That’s because retailers are rapidly buying the buildings that are home to their glamorous stores. It happened again this week with news that Prada is grabbing a second building on the “world’s greatest shopping street” — 720 Fifth Ave. at East 56th Street, next door to 724 Fifth, ...