Prada confirms its golden moment. After a 2024 year closed in double-digit growth, in the first three months of 2025 the group, fresh from its very recent acquisition of Versace, put net revenues up 13% to 1.34 billion euros. Credit again goes to Miu Miu, which continues its sustained growth trajectory, with retail sales up 60%, better than market expectations. Wholesale, which now accounts for an extremely marginal share of turnover, was up 7%. On the geography front, it stands out how the growth trend is generalized across all major markets: Asia Pacific, the main market, posted a 10% growth, Europe recorded a 13% increase supported by domestic consumption and tourism. The Americas also marked a double-digit increase (+11%), while Japan maintained a very positive growth trajectory, +19%. Finally, the Middle East scored the best performance in the period, totaling +31 %.