Luxury Headlines – 05/05/2025
Luxury Headlines – 05/05/2025
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Prada Group Releases Q1 2025 Results
Prada Group reported strong Q1 2025 results, with net revenue at €1,341 million, representing a 13% year over year increase compared to €1,187 million in Q1 2024. Retail sales grew by 13% to €1,216 million, while wholesale rose 7% to €96 million. Royalties increased by 15% to €29 million. Prada brand retail sales were consistent year over year , supported by its balanced product mix and Leather Goods development. Miu Miu's retail sales surged 60%, with strong performance across categories and regions, led by Leather Goods. The Middle East led geographically with a 26% increase, followed by Japan at 18%, and Europe at 14%, driven by domestic and tourist spending. Asia Pacific and the Americas each reported 10% growth. Looking ahead, the group will focus on creativity, relevance, and desirability, as well as enhancing customer experience.
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Four Seasons Expands UAE Portfolio in Ajman
Four Seasons Hotels & Resorts is expanding its presence in the UAE with the upcoming Four Seasons Resort Ajman at Al Zorah. Situated on the Ajman beachfront, the existing property, featuring 23 villas and 74 rooms, will undergo renovations by Al Zorah Development Company and is set to reopen in 2026. The resort will offer high-end amenities with a focus on wellness, including a new luxury spa and fitness facilities, private beaches, family activities, and several pools. This will be Four Seasons' 5th property in the UAE, with further projects planned.
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Puig Releases Q1 2025 Results
Puig reported €1,206 million in revenues for Q1 2025, representing 7.8% sales growth (7.5% like-for-like). Fragrances and Fashion, the top revenue segment, grew by 10.4% due to strong Prestige and Niche fragrance sales and fashion progress. Skincare showed a solid 7.8% growth, led by Uriage and Charlotte Tilbury. Makeup declined by 4.2% due to a soft premium market, despite Charlotte Tilbury line extensions, in line with a strong global trend. Geographically, APAC showed the highest growth with a 14.5% increase, followed by the Americas at 11.5%, whereas EMEA delivered a 4.3% growth. Puig reaffirms its FY 2025 forecast of 6% to 8% LFL revenue growth and anticipates expanding its Adjusted EBITDA margin.
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Kering Targets Net Positive Water Footprint by 2050
French Luxury group Kering has announced its new Water-Positive Strategy, committing to a net water-positive impact by 2050 and in its key supply chain regions by 2035. This initiative aims to reduce water consumption and actively regenerate water and ecosystems in its operating areas. Focusing on 10 priority water basins, Kering will collaborate with local stakeholders to improve water quality, quantity, and accessibility. The strategy includes a shift towards water-friendly raw materials like recycled textiles and innovative alternatives, alongside the adoption of sustainable water management practices and technologies such as chromium-free tanning. Water Resilience Labs will be established in each basin by 2035, beginning with the Arno River basin in Tuscany in 2025.
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Saks Fifth Avenue Debuts on Amazon Luxury
Saks Fifth Avenue has established a storefront on Amazon.com for the sale of luxury products like Balmain and Dolce & Gabbana. This initiative follows Amazon's investment in Saks Global in December and builds upon the 2020 launch of Amazon Luxury, a dedicated section for premium apparel and beauty. Saks Fifth Avenue will have a third-party storefront, managing its own merchandise and fulfillment.
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Michael Kors Launches Hotel Stories Campaign in China
Michael Kors has launched "Hotel Stories," a multi-sensory marketing campaign targeting experiential elite consumers by weaving immersive, travel- inspired narratives around boutique hotels and local culture in Hangzhou, China. This initiative, featuring a spring-themed pop-up at the Sisan Hotel and incorporating experiences like West Lake rowboat excursions, taps into the growing fascination for travel among China's elite. By positioning the Jordi bag as a key travel companion, Michael Kors aims to create meaning and personal resonance beyond traditional product promotion. The pop-up teahouse at the Sisan Hotel, open until May 5, further encourages direct consumer engagement and collaborative styling.
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Johnnie Walker and Balmain Release Exclusive Couture Whisky Collection
Scottish whisky brand Johnnie Walker has launched Couture Expression, a limited-edition collaboration with Balmain creative director Olivier Rousteing under the new Johnnie Walker Vault program. This initiative features 4 seasonal whisky blends, priced at $20,000, with only 25 bottles per season available globally. The collection will debut at Harrods in London on May 5th before a wider release on May 26th. Each unique blend incorporates rare ghost whiskies and draws from an archive of 500 ultra-rare whiskies, encased in Baccarat crystal bottles inspired by haute couture with a wing-shaped cap.
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