Prada Posts 2022 Revenue Rise As Tourism Recovers and Demand for Leather Goods Surges
In 2022 Prada demonstrated a robust revenue expansion, reaching a new peak of 4.2 billion euros and marking a 21% year over year increase. The momentum came as tourism began to rebound across major markets and shoppers renewed their appetites for luxury accessories, ready-to-wear, and footwear. The brand leveraged its strong product mix and global distribution to translate consumer enthusiasm into solid financial results, signaling a resilient business model capable of navigating uneven market conditions.
Across its retail network, Prada achieved a notable uplift, with total retail sales climbing by 24%. Regional dynamics showed pronounced vitality in Europe, where growth surged, while the Americas also contributed meaningfully to the ascent. In contrast, performance in China faced headwinds, slipping by around 2% compared with 2021, as lockdowns and curfews linked to the COVID-19 crisis dampened consumer activity. The company emphasizes that stronger results in other regions helped to offset the soft showing in China, underscoring the diversity of its geographic exposure and the effectiveness of its product segmentation.
Patrizio Bertelli, Prada’s chief executive officer, framed the year by highlighting a broad-based strength across categories and regions. The executive noted that even with the China challenges, demand remained healthy for leather goods, timepieces, shoes, and ready-to-wear, reflecting a well-balanced portfolio and a steady brand appeal among global luxury shoppers. This pattern aligns with a wider industry trend where travel upswings and renewed consumer confidence in luxury goods were driving faster growth outside the Chinese market.
In October 2022, Prada unveiled a Men’s white cotton tank top priced at $995. The design featured a triangular plaque on the chest bearing the fashion house’s emblem, a detail that underscored the label’s commitment to understated branding and premium materials. The product release illustrated Prada’s ongoing strategy to blend heritage with contemporary styling in its menswear offerings, appealing to fashion-forward buyers seeking versatile pieces that pair with a broader collection of accessories and outerwear. — Prada annual report 2022