Prada has recently become an outlier in the luxury market. While many big players struggled to pick themselves up amid weaker shopping appetites from their high-end clientele, Italian-born Prada has had a dream streak.
In the nine months to September, the company generated €3.8 billion in revenue, up 17.5% from the same period a year earlier. Much of that growth came from a niche sister brand called Miu Miu, which captured the imagination of Gen Z and has been sported by celebrities like Gigi Hadid and Sydney Sweeney. It was also one of the earliest brands to use actresses rather than models in its campaigns. Analysts expect the brand to continue to boom, doubling sales to about €2 billion.
