Prada Spa Ord (PRDSF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everyone, and thank you for joining the Prada Group's first quarter 2025 revenue update. I'm delighted to be with you again, and with me today is our Group CEO, Andrea Guerra. We will start with some remarks and then move to Q&A. Before we start, please be reminded that during today's call, we may discuss forward-looking statements which are subject to risks, uncertainties, and factors beyond our control, and the actual outcome and returns may differ materially from such statements. Please refer to the disclaimers included on slide 2 of our presentation. With that, I will hand over to Andrea Guerra. Thank you, Andrea. Good morning. We had a positive and solid first four months of the year with a low teen double digit growth. Has not been easy. The sector is now going flat or backwards since 18 months and there is no real improvement signals in front of us. We were able to show a plus 13 in retail growth with the Prada brand competing against a very strong quarter in 2024 of almost double digit growth on 2023. We will continue to build Prada desirability and product innovation to remain in a positive territory even in these tough circumstances. Miu Miu continued on its path with a strong growth in the quarter. Prada brand continues on its journey. on its journey of cultural innovation, and after a very long temporary gastronomic offer in Harrods, opened two very unique locations in 2025. The main being Mishang in Rongzhai, Shanghai, a kind of melting pot of architecture and gastronomic offer between Milan and Shanghai. Mishang is the translation of obsession. Location is conceived together with director Wong Kar-wai. It's a cultural landmark. So Rongzhai in Shanghai has become the brand epicenter in China. with a section dedicated to our Frondazione Pr...