Prada SpA returned to profitability in 2021 due to a sharp acceleration in retail sales, including online, and a growth in all product categories, especially in the Americas and Asia-Pacific markets.

In the 12 months ended Dec. 31, Prada’s net profit climbed to €294 million compared with a net loss of €54 million in 2020. In 2019, net profit amounted to €256 million, but that figure was lifted by the Patent Box tax benefit.

In 2021, revenues totaled €3.36 billion euros, climbing 41 percent from €2.42 billion in 2020. Compared with 2019, sales rose 8 percent. In the second half of 2021, sales grew 16 percent compared with the same period in 2019.

In 2021, retail sales climbed 40 percent to €2.93 billion compared with 2020, and 15 percent compared to 2019. The growth last year was driven by full-price sales and local spending with a strong acceleration in the second half of 2021. The trend further accelerated in the year as the group’s retail sales the fourth quarter rose 24 percent compared with the same period in 2019.

Online sales accounted for 7 percent of retail sales, growing fivefold compared with 2019. Compared with 2020, they rose 61 percent.