Prada’s Plan for Growing in a Luxury Downturn

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After years of struggling to parley its fashion authority into topline growth, Prada Group reported its best-ever year in business in 2022. Since then, it’s continued to outperform rivals, reporting surging sales even as the broader luxury market slowed, entering a downturn in 2024.

Miu Miu, which has powered much of the group’s recent growth, roughly doubled its sales throughout most of last year with a retooled…