Prada Group reported its best-ever year in business in 2022. Since then, it’s continued to outperform rivals, reporting surging sales even as the broader luxury market slowed, entering a downturn in 2024. Miu Miu, which has powered much of the group’s recent growth, roughly doubled its sales throughout most of last year
The brand is staying in the spotlight with fashion shows that continue to spark conversation online, as well as cultural activations like literary talks, pop-up bookshops and a multi-layered art installation that served as the backdrop for its latest runway and a series of performances during Art Basel Paris. “We believe working on the cultural aspects of society is essential for our two brands to survive in the long term,” the group’s CEO Andrea Guerra says in an interview to BoF
The industry is at a turning point: you have turmoil in creativity, turmoil in companies’ leadership, and for the first time in years, you have some negative numbers like the industry has never seen. The brands with positive [growth] in 2024 all have a long-term view on creativity, design, communication and management. And a strong link between the creativity, the image and the company. This is one of the most important “positive tensions” you need in this industry — and which you don’t necessarily see in all brands today.

Prada Wuhan, China
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