PRADA GROUP: NINE-MONTH NET REVENUES ROSE 12% TO €4,541M, 4% ORGANIC; THIRD-QUARTER ORGANIC GROWTH SLOWED TO 1%
By Pau Almar · Published
9M 2026 · 22 OCTOBER 2026
Prada Group reported nine-month net revenues of €4,541m against €4,070m, up 12% in reported euros, 15% at constant exchange rates and 4% organic, which the company defines as constant rates without Versace. Versace contributed €441m, 9.7% of net revenues. Without it, net revenues were about €4,100m, 0.7% above a year earlier in reported euros.
The company gives third-quarter growth at constant rates as 11%, organic growth as 1%, and retail as stable on an organic basis. The first half closed at 4.7% organic for the group, with the second quarter at 6.7%. The third quarter is about 3.7 points under the 4.7% VGR set as the test for the second half, and it is the lowest quarter of 2026: the first quarter was 3%.
// KEY NUMBERS
9M 2026 revenue · nine months ended 30 September 2026
| Revenue | EUR 4,541m |
|---|---|
| Reported growth | +12% |
| Constant-currency growth | +15% |
Subtracting the first-half amounts gives third-quarter net revenues of about €1,493m against €1,330m, up 12.3% in reported euros, and retail of about €1,302m against €1,194m, up 9.0%. Reported growth above the 11% at constant rates implies a currency tailwind of about a point in the quarter, where the first half carried a headwind of 5 points.
Prada retail sales rose 2% over nine months and 1% in the third quarter. Miu Miu rose 1% over the nine months against 41% a year earlier, and fell 3% in the third quarter against 29% in Q3 2025. By region, Americas retail rose 33% at constant rates and 13% organic; Europe rose 5% and fell 3% organic; the Middle East fell 23% on both bases.
The full-year 2026 results will show group organic growth in the fourth quarter, where a return to 3% or above would break the third-quarter pattern, and Miu Miu retail growth, where a negative figure would continue it.
Source: Prada S.p.A. press release "Prada Group delivers solid 9M-26 performance, with net revenues at +15%, +4% organic", Milan, 22 October 2026 ↗
Analysis by Pau Almar, VGR.
VGR analysis is an independent commercial reading of publicly disclosed company information, written from the perspective of a fashion retail sector operator. It is not investment research and it is not advice to buy, sell or hold any security. VGR is not a regulated financial adviser. Figures are taken from official company materials; figures derived by VGR are labelled as such. Readers should reach their own conclusions and take professional advice where appropriate.
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