Credit: Miu Miu

The company had retail sales of €3.43 billion for the period, growing by 15% (18% at constant currency), while wholesale improved by 8% (9% at constant currency) to €314 million. Royalties totalled €91 million and grew by 24%.

Retail sales were up by 9% in the Asia Pacific (12% at constant currency) to €1.14 billion, while Europe improved by 16% (18% at constant currency) to €1.09 billion.

The Americas had growth of 7% (8% at constant currency) to €576 million and Japan grew 40% (53% at constant currency) to €466 million. Finally, the Middle East had an improvement of 24% to €154 million.

Group CEO Andrea Guerra said: “We progressed through the year with another quarter of high-quality, like-for-like growth, supporting our positive trajectory in both revenue and margins. Our brands remain desirable and relevant, thanks to the strength and consistency of their identity, creativity and sharp positioning.

“Prada recorded a solid performance, showing resilience against sector headwinds, and Miu Miu upheld its thriving growth momentum. Despite the challenging backdrop, we are confident in our ability to navigate the industry complexities, and remain committed to our ambition to deliver solid, sustainable and above-market growth.”