Italian luxury label Prada’s group revenue up by 41% to €3.36 billion

Prada, the Italian luxury label, has reported strong growth in 2021 – all thanks to robust sales.

The luxury house witnessed its group revenue surge by an astounding 41 per cent in the year to clock €3.36 billion.  When compared to 2019, the rise is 8 per cent.

In a statement released to media, the Group said that the second half of 2021 showed significant improvement with regard to revenues, margins and cash generation.

Notably, sales from shops directly run by Prada went up by 27 per cent in the second half of 2021 and by 21 per cent when compared to 2019 – the numbers also included online sales.

Substantiating further on the good performance, Patrizio Bertelli, CEO, Prada, said that despite 2021 being a year of challenges, Prada proved to be ready and quickly responded to the needs of an extremely dynamic market.

Founded in 1913 by Mario Prada, Milan-based Prada specialises in apparels, shoes, leather handbags, travel accessories and perfumes, amongst others.