UNITED STATES – Prada defied the luxury industry’s slump last quarter when fashion fans snapped up Miu Miu’s Arcadie bags and cashmere cardigans.

The Italian group’s comparable retail sales grew 18 percent in the third quarter of 2024, the Hong Kong-listed company said. Those of its biggest brand, Prada, rose 1.7 percent, while Miu Miu’s sales more than doubled during the period.

Prada has been outperforming its high-end fashion rivals, thanks to the success of its products among Gen Z consumers, led by the extraordinary growth rates of sister brand Miu Miu, which now accounts for around a quarter of group sales.

The brand was the most popular brand during the period, moving up one notch from the previous quarter on the Lyst index, which tracks searches and mentions on social media. Prada came third.

Miu Miu’s Arcadie bag was especially popular, according to the index. Its mini version has a starting price of €1,850 (S$2,660) in France.