Prada Group’s quarterly revenue grew significantly more than expected

The Hong Kong-listed company said on its website that revenue rose 13 percent to 1.341 billion euros in the three months to the end of March from 1.187 billion euros a year earlier. Analysts had expected a lower revenue of 1.33 billion euros on average.

The company’s retail sales rose 13 percent to 1.216 billion euros in the January-March period. Sales at the Prada brand remained flat at 827 million euros, while Miu Miu rose 60 percent to 377 million euros.

The group’s sales in the Asia-Pacific region increased by 10 percent to €438 million, in Europe by 14 percent to €334 million, in the Middle East by 26 percent to €70 million, in Japan by 18 percent to €172 million, and in the Americas by 10 percent to €201 million.

Originally known as Prada Brothers, the company, which primarily sells leather goods, was founded in 1913 by Mario Prada and his brother Martino in Milan. In 1978, the company was inherited by Mario’s granddaughter, Miuccia Prada.

The company currently operates more than 600 stores in more than 70 countries around the world.