The Prada group has once again performed well in 2023, boosted in particular by its Miu Miu brand and the Japanese market.
While some of the major players in the luxury goods industry, such as Kering, are beginning to stick their tongues out in a less buoyant environment, the Prada Group continues to enjoy excellent momentum, as revealed by the latest results approved by its Board of Directors on March 7.
In 2023, sales rose by 17% at constant exchange rates to 4.7 billion euros, with a similar increase in retail sales (to 4.2 billion euros).
The Group’s net income jumped 44% to 671 million euros, while profitability continued to improve last year, with an EBIT margin of 22.5% at 1.1 billion euros.
An exceptional margin
“InvestingPro” points out that Prada’s gross profit margin stands “at an exceptional level of 80.05%, testifying to the efficiency of operations and the strength of the company’s market position.”
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Read also > MIU MIU IS ONCE AGAIN THE TOP FASHION BRAND OF THE YEAR, ACCORDING TO LYST
Featured photo: © Miu-Miu
