PRADA S.p.A. — Earnings Release 2013

Aug 8, 2013

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

PRADA S.p.A.

Via A. Fogazzaro n. 28, Milan, Italy
Registry of Companies of Milan, Italy: No. 10115350158
(Incorporated under the laws of Italy as a joint-stock company)
(Stock Code: 1913)

PRELIMINARY SALES FIGURES

FIRST HALF OF FINANCIAL YEAR 2013

This announcement is made pursuant to Rule 13.09 of the Listing Rules and Part XIVA of the Securities and Futures Ordinance. PRADA S.p.A. provides the preliminary sales figures for the six months ended July 31, 2013.

PRADA S.p.A. (the "Company", and together with its subsidiaries, the "Group") is pleased to announce the preliminary sales figures of the Group for the six months ended July 31, 2013. This announcement is made pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and Part XIVA of the Securities and Futures Ordinance.

The Group recorded consolidated net revenues of Euro 1,727 million in the first half of the financial year ended July 31, 2013, an 11.6% increase as compared to the same period of 2012.

At constant exchange rates, the Group enjoyed sales growth of 14.8%.

Sales through directly operated stores reached Euro 1,422 million, an increase of 15.6% (+19.5% at constant exchange rates) compared to the first half of 2012, thanks to both newly opened stores and Same Store Sales Growth (SSSG) of +7%. Meanwhile, the wholesale channel recorded a 3.5% drop in sales (-3% at constant exchange rates), compared to the same period of last year, following the selective strategy adopted by the Group which led to a reduction in the number of wholesale partners by more than one hundred.

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The growth in the period was well balanced across all geographical areas:

• the Asia Pacific market grew by 17.7% (+18.6% at constant exchange rates) with a significant contribution made by Greater China,

• the Americas market recorded 13.5% growth (+16% at constant exchange rates) compared to the first half of 2012, due to the excellent results achieved in the retail channel,

• the European market was boosted, above all, by the high number of tourists and achieved 5.7% growth (+6.7% at constant exchange rates) compared to the same period of last year, with the retail channel in line with 1Q13, which recorded double digit growth,

• the Japanese market recorded 16.4% growth at constant exchange rates, compared to the same period of 2012, though this was not reflected in its Euro equivalent sales because of the persistent weakness of the yen.

The Prada brand recorded further growth of 14.3% (+17.3% at constant exchange rates), compared to the first half of 2012. Miu Miu, +3.7% (+7.8% at constant exchange rates) and Church's +5.1% (+8.3% at constant exchange rates) also performed well, while the revenues of Car Shoe fell because of the overall reduction in the wholesale channel.

In the first half of financial year 2013, the Group continued to expand its retail network, opening 30 new stores (net) and taking the total number of DOS (Directly Operated Stores) to 491 at the end of July 2013: 301 Prada stores, 133 Miu Miu stores, 49 Church's stores and 8 Car Shoe stores.

Mr. Patrizio Bertelli, Chief Executive Officer of PRADA S.p.A., commented: “In an increasingly more extensive and global market for luxury goods and in an extremely volatile international economic environment, the Prada Group continues to achieve strong growth, proceeding with conviction and determination along its chosen path of development. We shall continue to base our long term growth strategy on the balanced international expansion of our retail network, achieving efficiency in all areas and constantly seeking quality and stylistic innovation”.

The information contained in this announcement is based on a preliminary assessment of the management accounts of the Group for the six months ended July 31, 2013, which has not been audited or reviewed by the Company's auditors. Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

The unaudited interim results of the Group for the six months ended July 31, 2013 are tentatively scheduled to be announced by the Company on September 17, 2013.

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By Order of the Board
PRADA S.p.A.
Mr. Carlo Mazzi
Deputy Chairman

Milan, Italy, August 8, 2013

As at the date of this announcement, the Company's executive directors are Ms. Miuccia PRADA BIANCHI, Mr. Patrizio BERTELLI, Mr. Carlo MAZZI and Mr. Donatello GALLI; the Company's non-executive directors are Mr. Marco SALOMONI and Mr. Gaetano MICCICHÈ and the Company's independent non-executive directors are Mr. Gian Franco Oliviero MATTEI, Mr. Giancarlo FORESTIERI and Mr. Sing Cheong LIU.

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