Financial Data and Key Metrics Changes - The group reported net revenues of €2,740 million, up 9% versus H1 2024 at constant FX, with a drag from FX of 160 basis points, leading to an increase of 8% at current exchange rates [19] - Retail sales for the period reached €2,450 million, up 10% versus H1 2024 at constant FX [19] - EBIT adjusted reached €619 million in H1 2025, with a margin of 22.6%, showing steady profitability versus H1 2024 [20] - Net income reached €386 million, in line with the same period last year [25] - Cash flow from operations reached €696 million, and the net cash position stood at €352 million [20][28] Business Line Data and Key Metrics Changes - Retail sales for the Prada brand were down 2% in the semester, while Miu Miu saw a 49% retail sales growth in the semester [21][22] - Wholesale was down 1% versus H1 2024, impacted by some degree of phasing [20] - Churches brand reported a 4% increase in retail sales in the semester [22] Market Data and Key Metrics Changes - Retail sales in Asia Pacific were up 10% in the semester, while Europe was up 9%, with Q2 impacted by lower tourist spending [23] - The Middle East delivered the best performance of the semester, up 26% in H1 [24] - Japanese retail sales decelerated against exceptionally high tourist flows in 2024, particularly in Q2 [24] Company Strategy and Development Direction - The company is focused on maintaining strong relationships with consumers and investing in new products and collections [6][10] - There is an emphasis on elevating the customer experience and enhancing the in-store experience [20][26] - The company aims to navigate the resetting luxury market by offering unique and personalized products [32] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by a cyclical downturn and geopolitical factors affecting tourism [7][8] - There is a cautious optimism regarding the second half of the year, with expectations of improved performance despite ongoing uncertainties [30][42] - The management is focused on long-term growth and maintaining brand desirability through strategic investments [20][25] Other Important Information - Significant investments were made in sustainability initiatives, including lower impact raw materials and diversity and inclusion programs [16][17] - The company is preparing for the integration of Versace, with expectations for completion between September and November [56] Q&A Session Summary Question: Insights on American and Chinese clusters in Q2 - Chinese demand was subdued but stable, while North American demand improved slightly [38] Question: Outlook for Q3 and easier comps - Q3 is expected to be softer, but there are easier comps compared to Q2 [41][42] Question: Prada brand's new collection and pricing strategy - The focus is on maintaining credibility at higher price points while offering a balanced collection [50][51] Question: Operating leverage in H1 - The company maintained stable profitability despite increased investments in customer-facing activities [53][54] Question: Versace acquisition timeline and management plans - The acquisition is expected to finalize between September and November, with careful management of the brand's identity [56] Question: Market share gains for the Prada brand - The brand is focused on maintaining its creative identity and enhancing retail KPIs to gain market share [64] Question: Future growth for Miu Miu - The focus remains on leather goods, with plans for store expansions and maintaining brand positioning [68][70] Question: Gross margin sustainability - The gross margin is expected to remain around 80%, supported by a positive sales mix [72] Question: Profitability comparison between Miu Miu and Prada - Miu Miu is on a positive trajectory but still requires investment to catch up with Prada [110] Question: Drivers of organic growth for the group - Growth will depend on geographical opportunities and product category expansions, particularly in leather goods [114]

Financial Data and Key Metrics Changes - The company reported net revenues of €2,740 million, up 9% versus H1 2024 at constant FX, with a drag from FX of 160 basis points, leading to an increase of 8% at current exchange rates [17] - Retail sales reached €2,450 million, up 10% versus H1 2024 at constant FX [18] - EBIT adjusted reached €619 million in H1 2025, with a margin of 22.6%, showing steady profitability compared to H1 2024 [19] - Net income for the period was €386 million, in line with the same period last year [24] - Cash flow from operations reached €696 million, and the net cash position stood at €352 million [19][26] Business Line Data and Key Metrics Changes - Retail sales for the Prada brand were down 2% in the semester, primarily impacted by Japan and Europe due to lower tourist flows [20] - Miu Miu experienced a 49% retail sales growth in the semester and 40% in Q2, now contributing to 32% of group retail sales compared to 23% in H1 2024 [21] - Churches brand saw a 4% increase in retail sales for the semester and 6% in Q2 [21] Market Data and Key Metrics Changes - Retail sales in Asia Pacific were up 10% in the semester, with stable trends between quarters [22] - Europe saw a 9% increase, with Q2 impacted by lower tourist spending [22] - The Americas showed improvement in Q2, with both local and traveler spending increasing [22] - The Middle East delivered the best performance, up 26% in H1 [23] Company Strategy and Development Direction - The company is focused on maintaining strong brand desirability and investing in new products and collections [8][9] - There is an emphasis on enhancing customer relationships and hospitality, exemplified by the opening of a new men's store on Fifth Avenue [9] - The company is navigating a resetting industry and is committed to long-term growth despite current challenges [28][30] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a cyclical downturn led by tourism and a resetting luxury market after years of growth [6][7] - There is cautious optimism about the second half of the year, with expectations of improved performance as comparisons ease [39][40] - The company is focused on maintaining full-price sales and improving operational efficiencies [30] Other Important Information - The company is advancing its environmental strategy, including lower impact raw materials and responsible chemical management [15] - Significant investments have been made in diversity and inclusion initiatives, as well as ocean literacy and preservation efforts [15][16] Q&A Session Summary Question: Insights on American and Chinese clusters in Q2 - The Chinese market was softer than Q1, with subdued local demand and weaker travel transactions. North America showed low single-digit growth with improving local demand but weakening traveler spending [34][35] Question: Outlook for Q3 and easier comparisons - Q3 is expected to be softer, with tourism traffic likely to break even in August. There are easier comparisons in Q3 versus Q2 [39][40][118] Question: Prada brand's new collection and pricing strategy - The focus is on maintaining credibility at higher price points while ensuring a well-balanced collection. The company aims to improve customer engagement and hospitality [46][47] Question: Operating leverage in H1 and expectations for H2 - The company is pleased with the trajectory but emphasizes the importance of ongoing investments for long-term growth, expecting to maintain EBIT growth if top-line growth continues [50][52] Question: Versace acquisition timeline and management plans - The acquisition is expected to finalize between September and November, with careful management of the brand's identity and positioning [54][55] Question: Retail KPIs and areas for improvement - The company acknowledges a gap in retail culture and commercial attitude compared to the best in the industry, indicating ongoing efforts to improve customer interaction and service [74][75] Question: Trends in product categories and pricing - Ready-to-wear and shoes have been the strongest categories, while leather goods have gained market share despite overall market weakness [78][79] Question: Miu Miu's growth strategy - Miu Miu is underpenetrated in many markets, with plans for geographical expansion and product category growth, particularly in leather goods [110] Question: Impact of tourism on Prada brand - Q3 is expected to see continued cyclical demand pressure related to tourism, with a share of tourist spending roughly 30% globally [119][120] Question: Marketing costs and future expectations - Marketing costs were up 16% year-on-year, with significant phasing expected to normalize throughout the year [121][122]

Financial Performance - Group retail sales increased by 10% in H1-25[11, 44, 47, 51] - Net revenues reached €2.74 billion, a 9% increase at constant exchange rates[12, 41, 44, 74] - Miu Miu experienced substantial growth of 49%[12, 47] - Prada sales decreased by 2%[12, 47] - EBIT adjusted margin remained steady at 22.6%, amounting to €619 million[12, 41, 53, 74] - Net income saw a slight increase of 1% to €386 million[53, 74] Strategic Investments - Capital expenditure totaled €247 million[12, 56] - Cash flow from operations was €696 million[41, 63] - The company maintains a solid balance sheet with a net cash position of €352 million[62, 63] Retail and Geographic Performance - Retail channel contributed 90% of net revenues[44] - Asia Pacific retail sales increased by 10%[51] - Europe retail sales increased by 9%[51] - Americas retail sales increased by 12%[51]

智通财经APP讯，普拉达(01913)发布公告，自2025年7月30日起，Marina Sylvia Caprotti女士已辞任公司 独立非执行董事，以投放更多时间于其他公务。 Ilaria Resta女士已获委任为独立非执行董事，自2025年7月30日起生效。 ...

註冊辦事處位於 Via A. Fogazzaro n. 28, Milan, Italy 意大利米蘭蒙扎布里亞納洛迪公司註冊處：編號 10115350158 （根據意大利法律註冊成立的股份有限公司） 意大利米蘭，二零二五年七月三十日 董事名單及其角色與職能 1 Ilaria RESTA 女士已委任為獨立非執行董事，Marina Sylvia CAPROTTI 女士已辭任獨立非執 行董事，均自二零二五年七月三十日起生效。 PRADA S.p.A. 董事會（「董事會」）與董事委員會成員，以及彼等的姓名、角色和職能載列 如下 ： 附註： C 董事委員會的主席 M 董事委員會的成員 （股份代號：1913） * 董事會建議委任該主席並待於該委員會的首次會議上獲任命 | 董事委員會 | 審核與風險 | 薪酬委員會 | 提名委員會 | 可持續發展 | 內幕消息披露 | | --- | --- | --- | --- | --- | --- | | | 委員會 | | | 委員會 | 委員會 | | 董事會 | | | | | | | 執行董事 | | | | | | | Paolo ZANNONI 先生 | | M | | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任 何損失承擔任何責任。 註冊辦事處位於Via A. Fogazzaro no. 28, 20135 Milan, Italy 意大利米蘭蒙扎布里亞納洛迪公司註冊處：編號10115350158 （根據意大利法律註冊成立的股份有限公司） （股份代號：1913） 更換獨立非執行董事 PRADA S.p.A.（「本公司」）董事會（「董事會」）謹此宣佈，自二零二五年七月三十日起： 獨立非執行董事辭任 本公司謹此宣佈，自二零二五年七月三十日起，Marina Sylvia Caprotti女士已辭任本公 司獨立非執行董事，以投放更多時間於其他公務。 Caprotti女士確認，彼與董事會並無意見分歧，亦無有關其辭任的事宜須提請本公司股東 垂注。 本公司謹此對Caprotti女士於任職期間作出的貢獻深表謝意。 委任獨立非執行董事 本公司欣然宣佈，Ilaria Resta女士已獲委任為獨立非執行董事，自二零二五年七月三十 日起生效。 – 1 – ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 Prada S.p.A. （股份代號：1913） 截至二零二五年六月三十日止 六個月期間的 綜合業績公告 1 - Prada集團錄得收益淨額2,740百萬歐元，按固定匯率計，較二零二四年同期 增加9%； - 相比二零二四年同期，零售銷售淨額按固定匯率計增加10%； - 按固定匯率計，Prada品牌的零售銷售淨額減少2%，而Miu Miu的零售銷售 淨額增加49%； - 相比二零二四年同期，所有地區的零售銷售淨額按固定匯率計均錄得增長： 中東+26%、美洲+12%、亞太區+10%、歐洲+9%及日本+4%； - 經調整EBIT為619百萬歐元，相等於收益淨額的22.6%； - 本集團收入淨額為386百萬歐元； - 於二零二五年六月三十日，財務盈餘淨額為352百萬歐元。 Prada集團的資料 Prada S.p.A.（「Prada」或「本公司」），連同其附屬公司（統稱「本集團」或「Prada集 團」）於香港聯 ...

Core Viewpoint - The controversy surrounding Prada's new leather sandals, which are criticized for resembling traditional Indian Kolhapuri sandals, highlights issues of cultural appropriation and the protection of traditional craftsmanship [1][2]. Group 1: Product and Design - Prada launched a new leather sandal during the Milan Fashion Week as part of its Spring/Summer 2026 menswear collection, which has been accused of closely resembling the Kolhapuri sandals from India [1]. - The Kolhapuri sandals are handmade and typically priced around $10, while Prada's version retails for $1,200, raising concerns about the appropriation of traditional designs for commercial gain [1]. Group 2: Cultural Response - Indian artisans and cultural observers have expressed outrage, claiming that Prada's design constitutes "cultural appropriation" and a theft of their traditional craftsmanship [2]. - A delegation of artisans from Maharashtra has met with local government officials to demand action to protect their rights and hold Prada accountable for the alleged design theft [2]. Group 3: Legal and Ethical Considerations - Despite the Kolhapuri sandals receiving geographical indication (GI) certification in India, which protects the name and production methods within the country, this protection does not extend globally, allowing foreign brands to draw inspiration without facing legal consequences [2]. - Legal experts indicate that unless Prada explicitly uses the term "Kolhapuri," it would be challenging to prevent similar incidents through international law [2].

Core Viewpoint - Prada's CEO Gianfranco D'Attis will leave the company by the end of the month, with Andrea Guerra temporarily taking over, amid a challenging luxury market environment and internal brand performance disparities [1][2]. Group 1: Management Changes - Gianfranco D'Attis, the first non-family CEO of Prada, is departing the company, which raises speculation about his future due to his absence from the Milan men's fashion show [1]. - Andrea Guerra, the CEO of the Prada Group, will temporarily assume the role of brand CEO following D'Attis's departure [1]. - The management changes come as several luxury brands, including Kering and LVMH, are also adjusting their leadership amid market pressures [1]. Group 2: Financial Performance - Prada's revenue growth for 2024 is only 4%, with Q1 2025 showing zero growth, falling short of market expectations [2]. - In contrast, Miu Miu, a brand under the same group, saw retail sales surge by 93% in 2024 and continued to grow by 60% in Q1 2025 [2]. - The sales growth rates for Prada from 2021 to 2024 have decreased significantly, from 44% to 4%, while Miu Miu's growth rates have increased dramatically [2]. Group 3: Strategic Acquisitions - The recent acquisition of Versace for €1.25 billion is a significant move for the Prada Group, aimed at expanding its brand portfolio [3]. - Analysts express concerns that while the acquisition may benefit Prada in the long term, it could pose short-term challenges and require careful management [3]. - The integration of Versace is seen as a test of Prada's capabilities, necessitating sufficient funding and management focus [3]. Group 4: Market Outlook - The global luxury goods market is entering a phase of low growth, with projections indicating annual sales growth of only 2%-4% from 2025 to 2027 [4]. - The overall market environment is expected to improve slightly in 2025, with total sales growth potentially remaining under 4% [4]. - The current market conditions present opportunities for acquiring quality assets at lower prices, which could benefit companies like Prada [5].

Overall Performance - Prada Group's retail sales experienced a solid start to the year with a +13% increase [11] - Total revenue reached €1341 million, a +13% increase compared to Q1-24 [20] - Retail channel contributed €1216 million, showing a +13% growth [20] - Wholesale revenue amounted to €96 million, a +7% increase [20] - Royalties generated €29 million, a +15% increase [20] Brand Performance - Miu Miu demonstrated remarkable growth at +60% [12] - Miu Miu retail sales reached €377 million [23] - Prada retail sales remained stable at €827 million [23] - Church's retail sales increased by +2% to €7 million [23] Regional Performance - Asia Pacific retail sales grew by +10% to €438 million [27] - Europe retail sales increased by +14% to €334 million [27] - Americas retail sales grew by +10% to €201 million [27] - Japan retail sales increased by +18% to €172 million [27] - Middle East retail sales grew by +26% to €70 million [27]