Italian luxury fashion group Prada defied a broader luxury sector slowdown as it reported double-digit revenue growth in the first half of the year, fuelled by surging sales at its Miu Miu label and a jump in sales in Japan.
Net revenues increased 17 per cent to €2.6bn year on year while retail sales rose 18 per cent to €2.3bn, the company said on Tuesday.
Sales at Miu Miu, the group’s brand that targets a younger generation of consumers, continued a strong run, rising 93 per cent year on year. Those at the group’s main Prada brand grew 6 per cent over the same period.
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