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Patrizio Bertelli, Prada Group Chairman and Executive Director, commented: “In the first half of the year we delivered a sound set of results, testament to the strength of our brands and disciplined execution. This healthy performance was achieved against a challenging backdrop, somewhat unprecedented in our industry. We believe the structural growth opportunities remain unchanged, but we are conscious that in the short term we may continue to face a turbulent economic environment. We remain focused on the long-term with an approach that is mindful of the context. As always, our efforts are centred on the product and the client experience, whilst we continue to strengthen our industrial capabilities and our organisation.”

Andrea Guerra, Group Chief Executive Officer, added:
“We close these first six months with a solid Q2 building on a good start to the year. We owe this performance to the cultural relevance of our brands, their creativity and ability to anticipate and interpret contemporaneity. Over the period, Prada showed resilience against increasingly subdued demand dynamics and high comps; Miu Miu continued on a healthy path of sustainable growth. Certain headwinds are likely to be more cyclical than structural, but it is essential to execute with focus. Looking ahead, while being vigilant and nimble, we remain committed to our strategy and to our ambition to deliver solid, sustainable and above-market growth.”