According to the report published by HSBC research, Prada (01913.HK) stands out in a highly competitive market, bringing better execution and management upgrades to its two major brands. The bank does not really believe that there are major problems with the group's brand in terms of product quality or design, but is more concerned about its execution issues, including customer relationship management systems, activity management and retail excellence, all of which are being solved positively. Among the luxury goods groups covered by the bank, Prada is the only company that the bank expects to expand its profits this year.

The bank has raised its target price for Prada from 75 yuan to 78.5 yuan and maintained a "buy" rating. It has also raised its average EBIT forecast for 2024 to 2026 by 5%, believing that the company's combination of scale and refinement will produce better results, and expects Miu Miu to maintain outstanding performance, while Prada's core brand market share may rise in the coming quarters.