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Italian fashion and accessories groups Prada, Moncler and Tod’s have just revealed their results for the first half of 2023. Prada soared to sales of €2.49 billion, Moncler topped the €1 billion mark for the first time in its history (+24%), while Tod’s posted double-digit growth across all its product categories.
Made in Italy stronger than ever, with results up by an average of 20% over the first half of 2023. Prada posted sales of 2.23 billion euros (+20%); Moncler earned 1.14 billion euros (+24%) while Tod’s generated 569 million euros (+21.7%).
For Prada’s CEO, these performances can be explained by the brand’s desirability, disciplined execution of its strategy and well-balanced global distribution.
Prada tops the list of Italian stocks
Prada, one of the leading players in Italian luxury goods – alongside the Armani group – reported sales of €2.23 billion, representing impressive growth of 20% in the first half of the year.
Prada’s retail sales rose by 21% to €1,975 million.
The group also improved its profitability, beating expectations with an EBIT margin of 22% and EBIT of €491 million.
Behind this success lie highly desirable products with a distinctive identity. The same is true of its brands, particularly its sister brand Miu-Miu, whose latest fashion shows have captured the attention of the younger generation. While Prada’s revenues rose by 18%, Miu-Miu’s increased by 50%!
This makes Miu-Miu the leading brand for the first half of 2023.
Prada is not to be outdone, with its latest campaign, “The Glass Age”, revisiting its iconic Prada Galleria bag, making a particularly strong impression, according to the label.
Products have also had a strong influence on the Group’s solid results. In a press release, for example, it is mentioned that customers appreciate quilted leather, which explains the success of the latest Wander and Arcadie models.
Above all, the Prada group is not skimping on investment, with the aim of delivering an ever more optimal customer experience in shop.
The group has renovated no fewer than 70 points of sale. Over the next six months, Prada plans to step up investment in its brands and shops in order to further strengthen its market position.
At the same time, the Group is keeping up the pace with regular and increasingly surprising activations in all four corners of the globe. These include the opening of Prada Mode in Tokyo, Prada Extends in Bangkok and Prada Caffè at Harrods.
But the other Italian luxury brands did not disappoint.
While Prada dominates this triumvirate of transalpine luxury goods in terms of value and profits, it is the Moncler group that takes the prize for sales growth (+24%) to €1.14 billion.
Its CEO Remo Ruffini was delighted with an unprecedented result in which “for the first time in [its] history, the group’s sales exceeded the billion euro mark in the first half of the year”.
The Moncler down jacket brand even posted year-on-year growth of 29%. Stone Island, acquired in December 2020, made its own contribution to the Group’s results, with sales growth of 5%.
Less happily, Moncler Group’s net profits fell from €211.3 million in H1 2022 to €145.4 million. However, last year’s figures included an exceptional tax benefit of €92.3 million linked to the acquisition of Stone Island.
The Tod’s group (Tod’s, Roger Vivier, Fay and Hogan) saw its sales rise by 21.7% to €569 million.
The group posted double-digit growth across all its product categories. However, footwear remains the most popular category, with sales of €439.3 million in the first half.
The Gommino moccasin brand generated sales of €283.3 billion over the period, up 21.3%, contributing more than half of the Group’s total sales.
Roger Vivier was the Group’s fastest-growing brand (+28.4%).
Asia and Europe as key drivers
For the three luxury goods players, the dynamism of the APAC and EMEA markets is offsetting the weakness of sales in the United States, which is caught up in an inflationary climate that is severely eroding purchasing power in the country.
Asia, and China in particular, is more than ever at the heart of the Transalpine luxury industry.
Tod’s recorded a +43.2% increase in sales in the Greater China region, compared to the same period last year, to 194.4 million euros.
China remains its main market, ahead of Italy and the rest of Europe.
Prada, meanwhile, is enjoying a rebound in Asia, with retail sales up 25%.
But no market is doing as well as Japan for the Prada group, which has recorded growth of +49%!
Alongside Asia, Europe is also offering good opportunities, with retail sales up 24% for the Prada group.
For its part, the Tod’s group is continuing to focus on Europe, and France in particular, as evidenced by the recent reopening of its boutique in Saint Tropez and the capsule collection by Roger Vivier launched at the height of Paris haute couture week.
Listed on the Hong Kong stock exchange, the Prada group has given no further information about its plans for a dual listing on the Milan stock exchange.
However, its CFO Andrea Bonini confirmed that the group was technically ready for this new listing in its home country.
Finally, while America disappointed LVMH and Essilor-Luxottica, it was no exception for Italian luxury goods stocks.
Prada’s sales fell by 1% over the half-year, while Tod’s sales were down by 1.8% compared with the first six months of 2022.
Read also > Luxury goods, the leading creator of value in France and Europe
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Italian fashion and accessories groups Prada, Moncler and Tod’s have just revealed their results for the first half of 2023. Prada soared to sales of €2.49 billion, Moncler topped the €1 billion mark for the first time in its history (+24%), while Tod’s posted double-digit growth across all its product categories.
Made in Italy stronger than ever, with results up by an average of 20% over the first half of 2023. Prada posted sales of 2.23 billion euros (+20%); Moncler earned 1.14 billion euros (+24%) while Tod’s generated 569 million euros (+21.7%).
For Prada’s CEO, these performances can be explained by the brand’s desirability, disciplined execution of its strategy and well-balanced global distribution.
Prada tops the list of Italian stocks
Prada, one of the leading players in Italian luxury goods – alongside the Armani group – reported sales of €2.23 billion, representing impressive growth of 20% in the first half of the year.
Prada’s retail sales rose by 21% to €1,975 million.
The group also improved its profitability, beating expectations with an EBIT margin of 22% and EBIT of €491 million.
Behind this success lie highly desirable products with a distinctive identity. The same is true of its brands, particularly its sister brand Miu-Miu, whose latest fashion shows have captured the attention of the younger generation. While Prada’s revenues rose by 18%, Miu-Miu’s increased by 50%!
This makes Miu-Miu the leading brand for the first half of 2023.
Prada is not to be outdone, with its latest campaign, “The Glass Age”, revisiting its iconic Prada Galleria bag, making a particularly strong impression, according to the label.
Products have also had a strong influence on the Group’s solid results. In a press release, for example, it is mentioned that customers appreciate quilted leather, which explains the success of the latest Wander and Arcadie models.
Above all, the Prada group is not skimping on investment, with the aim of delivering an ever more optimal customer experience in shop.
The group has renovated no fewer than 70 points of sale. Over the next six months, Prada plans to step up investment in its brands and shops in order to further strengthen its market position.
At the same time, the Group is keeping up the pace with regular and increasingly surprising activations in all four corners of the globe. These include the opening of Prada Mode in Tokyo, Prada Extends in Bangkok and Prada Caffè at Harrods.
But the other Italian luxury brands did not disappoint.
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Italian fashion and accessories groups Prada, Moncler and Tod’s have just revealed their results for the first half of 2023. Prada soared to sales of €2.49 billion, Moncler topped the €1 billion mark for the first time in its history (+24%), while Tod’s posted double-digit growth across all its product categories.
Made in Italy stronger than ever, with results up by an average of 20% over the first half of 2023. Prada posted sales of 2.23 billion euros (+20%); Moncler earned 1.14 billion euros (+24%) while Tod’s generated 569 million euros (+21.7%).
For Prada’s CEO, these performances can be explained by the brand’s desirability, disciplined execution of its strategy and well-balanced global distribution.
Prada tops the list of Italian stocks
Prada, one of the leading players in Italian luxury goods – alongside the Armani group – reported sales of €2.23 billion, representing impressive growth of 20% in the first half of the year.
Prada’s retail sales rose by 21% to €1,975 million.
The group also improved its profitability, beating expectations with an EBIT margin of 22% and EBIT of €491 million.
Behind this success lie highly desirable products with a distinctive identity. The same is true of its brands, particularly its sister brand Miu-Miu, whose latest fashion shows have captured the attention of the younger generation. While Prada’s revenues rose by 18%, Miu-Miu’s increased by 50%!
This makes Miu-Miu the leading brand for the first half of 2023.
Prada is not to be outdone, with its latest campaign, “The Glass Age”, revisiting its iconic Prada Galleria bag, making a particularly strong impression, according to the label.
Products have also had a strong influence on the Group’s solid results. In a press release, for example, it is mentioned that customers appreciate quilted leather, which explains the success of the latest Wander and Arcadie models.
Above all, the Prada group is not skimping on investment, with the aim of delivering an ever more optimal customer experience in shop.
The group has renovated no fewer than 70 points of sale. Over the next six months, Prada plans to step up investment in its brands and shops in order to further strengthen its market position.
At the same time, the Group is keeping up the pace with regular and increasingly surprising activations in all four corners of the globe. These include the opening of Prada Mode in Tokyo, Prada Extends in Bangkok and Prada Caffè at Harrods.
But the other Italian luxury brands did not disappoint.
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