Prada Group’s organic revenues were up 5% year-on-year in the first half of 2026, on a constant currency basis, to €3.05 billion. In Q2, organic revenues accelerated to 7%.
“In 2026, as we talked about earlier in the year, we are building a new cycle of solid growth for Prada, normalized but substantial growth for Miu Miu, and a new creative journey for Versace,” group CEO Andrea Guerra said on Thursday’s investor call. “At the end of this first semester, we have been able to accomplish our fundamental objectives for all three brands.”
For the second half of the year, Prada’s retail sales were up 3.3%, while Q2 sales were up 6.3%. Since January, the brand has seen an acceleration on all-important KPIs, including new clients, original spread and average price, Guerra told investors. Miu Miu was up 2.5% in the first half of the year, and up 2.6% in the second quarter, in line with the normalization seen in Q1. “Miu Miu had to normalize,” he said, referencing the 40% comparison basis from Q2 2025. “We had to adapt mentally to a new way of doing [things] in a new world of normalized growth. It took some weeks, maybe some months, [but] today we are ready and committed.”
Versace performed in line with expectations at €350 million in net revenue for the first half of the year. The house welcomed Pieter Mulier as creative director at the beginning of the month, after the exit of Dario Vitale in Q4 2025. “We worked hard on many different things in this first six months — organizations, synergies, costs, journey, commercial milestones — it’s a long journey, but we started it,” Guerra said.
Versace’s Fall/Winter 2026 campaign launched on Thursday.
Photo: Steven Meisel
Group CMO Lorenzo Bertelli, who is also head of sustainability and Versace executive chair, added that Mullier’s appointment marks the beginning of Versace’s repositioning. “We welcome Pieter’s visionary talent and wish him good luck with this exciting journey,” he said. Rather than debuting in February as some expected, Mulier will show his first collection, La Vacanza, in May next year, executives confirmed.
By region, Asia-Pacific was up 6% in the first half of the year to €922 million, while Japan was up 2% to €288 million. Europe was down 4% on an organic basis in H1, including a 2% dip in Q2, as both tourist spending and local demand began to recover. The Americas were a bright spot, up 17% in the first half, with second-quarter growth accelerating on local demand. The Middle East felt the impact of the conflict, with H1 sales down 24%.
