Prada's profits rose 25% to 839
million euro last year, the fashion group said as it is
reportedly poised to buy Versace.
Prada Group recorded net revenues of 5.4 billion in 2024 (+17%
compared to 2023 at constant exchange rates).
Retail sales were equal to 4.8 billion, up 18%, confirmed in the
fourth quarter, and rose double digits in all geographical areas
except the Americas: the Prada brand recorded a 4% increase in
2024 as a whole and Miu Miu 93% in a record year for the brand.
The board of directors has decided to propose a dividend of
0.164 euros per share (from 0.137 euros) at the next meeting on
April 30. The net financial position is positive by 600 million.
Prada is in talks to buy Versace from the US investor Capri
Holdings for a price that could reach nearly 1.5 billion euros,
Bloomberg has reported.
An agreement between Milan-based Prada and the New York-listed
Capri could reportedly be finalized by the end of March.
The deal would enable Prada to create an Italian group that
would be better able to compete with the sector's top players
led by France's LVMH, the owner of luxury brands including Louis
Vuitton and Kering, which owns fashion houses including Yves
Saint Laurent, Gucci, Balenciaga, Bottega Veneta.
It would also bring Versace back under an Italian owner.
Moreover, a potential agreement would represent a turning point
after Italian luxury brands have ended up for years in foreign
hands.
Prada was founded in 1913 in Milan by Mario Prada.
His granddaughter Miuccia Prada, who inherited the company in
the late 1970s, has transformed her family's leather goods house
into one of fashion's ready-to-wear powerhouses.
She also founded Miu Miu, which is a subsidiary of Prada.
Capri was formerly called Michael Kors but was renamed after
taking over Jimmy Choo in 2017 and Versace in 2018.
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