Prada and Miu Miu Get a Boost From China as Rival Gucci Struggles
- Prada, Miu Miu topped Lyst index of popular brands in quarter
- Results contrast with weak performance at Gucci owner Kering
Shares of Prada have gained 37% so far this year in Hong Kong.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
Prada SpA’s sales jumped as the Italian fashion group, which also owns Miu Miu, continues to outperform its biggest rivals.
Net revenue rose 16% in the first quarter at constant exchange rates to €1.19 billion ($1.27 billion), Prada said in a statement Wednesday. Analysts were expecting €1.17 billion.