Prada Group's Stellar Growth and Potential Versace Acquisition

The Prada Group has reported strong financial growth, thriving with a 17% revenue boost despite a general downturn in the luxury sector. Highlights include retail sales growth and positive performance of Prada and Miu Miu brands. The group is considering acquiring Versace, despite challenges, to expand its brand portfolio.

The Prada Group has defied industry trends by recording a remarkable revenue growth for the fourth year in a row. With a reported 17% increase in revenue to 5.4 billion Euros, the group's retail sales surged 18% to reach 4.6 billion Euros.

Among its assets, Prada and Miu Miu have shown resilience and growth, with the latter nearly doubling its sales figures. This comes at a time when the luxury market is shrinking for the first time since the Great Recession.

Prada's attention is now on potential acquisitions, notably Versace, which may present both growth opportunities and challenges due to complications in restructuring the historic brand.

(With inputs from agencies.)