The brand’s latest designs have proven popular with fashionistas across the globe
According to a Bloomberg report, Prada SpA sales have soared due to buyers splurging on Prada loafers and Miu Miu pocket bags.
Net revenue in the first quarter grew 22% at constant exchange rates, the company said in a statement. Japan, Europe and Asia Pacific led the growth, while the slowest demand was seen in the Americas, growing at 5%. The release marks the first time Hong Kong-listed Prada has issued a first-quarter trading update, Bloomberg reports.
It added, “The latest designs from Prada and Miu Miu have proven popular with fashionistas around the world. The brands took the top two spots in a quarterly ranking by Lyst, which tracks both the most searched brands and products on its own shopping apps and mentions on social media. The list notably highlighted Miu Miu’s popular pocket bag, which sells for €2,100 ($2,295).
Bloomberg reports that the fashion conglomerate recently reorganized its administration with Miuccia Prada, the granddaughter of the label’s founder, taking over the leadership role from Patrizio Bertelli and Andrea Guerra as co-chief executive.
Earlier this year at Milan Fashion Week, designers Miuccia Prada and Raf Simons turned wedding dresses into everyday looks, opening their autumn/winter 2023-24 catwalk presentation with white floral embellished long and short white skirts and Paired with knits.
Utility suits became long shirt dresses with trains, while large boxy jackets were matched with slim ankle-length trousers, mainly in dark colors.
The collection also included a range of white puffer and dark asymmetrical mini skirts, colorful printed dresses, buttoned caps and duffel coats.