PRADA(HK:01913)2023-05-11 11:21Financial Performance - Prada Group reported a net revenue of €1,064.8 million for the three months ended March 31, 2023, representing a 22.2% increase at constant exchange rates compared to the same period in 2022[2]. - Retail sales increased by 23.2% at constant exchange rates, driven by both year-on-year and full-price sales, with retail sales accounting for 89% of total net revenue[5]. - The wholesale channel sales increased by 8.7% at constant exchange rates compared to the same period in 2022[5]. - Licensing revenue surged by 52.3%, significantly contributed by eyewear and fragrance segments[5]. Regional Growth - All regions experienced growth, with Asia-Pacific up 22.4%, Europe up 27.6%, the Americas up 4.9%, Japan up 55.1%, and the Middle East up 15.0%[5]. - The company experienced a strong recovery in the Asia-Pacific region due to the easing of COVID-19 restrictions, leading to a significant acceleration in sales towards the end of the quarter[5]. Product Category Performance - All major product categories, including leather goods, ready-to-wear, and footwear, recorded double-digit growth, with ready-to-wear being the fastest-growing category at +38.3%[6]. - Prada brand retail sales increased by 21.1% at constant exchange rates, while Miu Miu saw a remarkable growth of 41.9%[7]. - The total retail sales for Prada amounted to €813.3 million, while Miu Miu contributed €129.4 million[7]. Strategic Focus - The company continues to focus on new product launches and market expansion strategies to sustain growth momentum[6].