Prada targets wealthiest customers while shrinking its store network

The Prada Group wants to focus more on “big spenders”—as the wealthy continue to get richer—as well as on creative innovation at Versace and Miu Miu. While revenue is posting double-digit growth, profits are under pressure.

Gaining share among the wWealthiest

The Italian luxury group reported revenue of 3.05 billion euros in the first six months of 2026. This represents an 11% increase compared to the previous year, and as much as 16% at constant exchange rates. Excluding the recently acquired Versace, however, revenue rose by 5%. Profits also lagged behind: adjusted operating income fell by 14.3% to €530 million, partly due to the integration of Versace.