Andrea Guerra, Group Chief Executive Officer, added:
“We close the first six months of the year with solid results, accelerating in the second quarter on a positive Q1. At Prada, the team effort resulted into a strong Q2 performance, and we will continue to work relentlessly across product, retail and communication to drive the brand towards its full potential. At Miu Miu, the foundations built during the years sustained relevance and desirability against a still challenging comparison base. The arrival of Pieter Mulier at Versace marks the beginning of the brand’s new creative journey and we are excited to welcome his talent and vision into our Group. Our strategy is clear, our backbone is strong and, while the environment remains disrupted, we are confident in the strength of our brands and their long-term potential. Looking ahead, we will remain disciplined and agile as we pursue our ambition of delivering above-market growth for the Group.”

Asia Pacific continued to show strength, up 15% yoy, +6% organic, with Prada making further progress in Q2, driven by solid execution and positive trends across the region; robust growth at Miu Miu throughout the period.

Europe was up 5%, down 4% organic, improving in Q2 to -2% organic and supported by a recovery in both tourist spending and local demand.

Americas remained buoyant, up 37% yoy, +17% organic, with Q2 accelerating on higher local demand; both Prada and Miu Miu continued to benefit from strengthened organisations and investments.

Positive performance in Japan, up 6% yoy, +2% organic, with Q2 improving on solid local consumption and increased traveller demand.

Middle East was down 24% yoy, -24% organic, as the conflict extended throughout the second quarter; local consumption remained relatively resilient, improving QoQ.

Other highlights

In H1-26 the Group generated EBIT Adjusted of €530 mln, corresponding to a margin of 17.4%. Underlying profitability, measured on organic basis, remained in line with the previous year. The Net Income for the semester amounted to €327 mln.

Thanks to healthy cash flow generation, the Group closed the period with a Net Debt Position of €693 mln, after dividend payment of €403 mln and Capital Expenditure of €247 mln.

Finally, the Group continued to make tangible progress across its key sustainability priorities. The transition plan towards lower-impact raw materials continued to drive responsible procurement and product innovation. Chemical management also advanced further, alongside efforts to decarbonise the supply chain in collaboration with industry peers. Under the People pillar, DE&I and gender equity remained key areas of focus, supported by training and awareness programmes. Finally, the Group also reaffirmed its commitment to Culture through the SEA BEYOND project and the Forestami initiative, further expanding their impact by engaging younger generations and fostering environmental awareness through education.