Company Profile
"For Prada, fashion, luxury and style have always been core aspects of a project that goes beyond production of clothes, footwear and handbags. Careful observation and interest in the world, society, and culture are at the core of Prada’s creativity and modernity. This has pushed Prada beyond the physical limitations of boutiques and showrooms, leading us to interact with diverse, seemingly distant worlds, and introducing, very naturally, a new way of creating fashion”.
Miuccia Prada and Patrizio Bertelli.
These values have transformed a family business into a major player in the luxury market worldwide.
The PRADA Group is one of the world’s leaders in the design, production and distribution of luxury handbags, leather goods, footwear, ready-to-wear apparel, accessories, eyewear and fragrances. The Group owns some of the most prestigious international brands: Prada, Miu Miu, Car Shoe and Church’s.
The Group operates in 70 countries through 388 (as of 31 January 2012) directly operated stores, 30 franchise stores and a network of selected high-end multi-brand stores and luxury department stores.
Prada’s distinctive features and prestige derive from its particular industrial process management which allows the Group to offer its customers products of unequalled quality, creativity and exclusivity.
A focus on quality permeates every aspect of the Group’s business. The individual heritage and identity of each brand is rigorously defended with the Group’s designers and craftsmen being constantly challenged to keep tradition alive through a continuous process of re-invention and innovation. Each step of the process, both inside and outside the company, is carefully monitored in order to guarantee uncompromised quality.
The result is an exclusive relationship between each customer and the PRADA Group brands, its products, its communications and its stores. This is why customers recognize in Prada’s products a personal and important part of their desire for self-expression and communication with the world around them.
Company Structure & History
History
The Prada brand dates back to the beginning of the last century. In 1913, Mario Prada opened a luxury store in the Galleria Vittorio Emanuele II in Milan, selling leather handbags, travelling trunks, leather accessories and beauty cases, luxury accessories and articles of value. Thanks to its exclusively designed goods, handcrafted using fine materials and sophisticated techniques, Prada rapidly became a point of reference for European aristocracy and the most elegant members of the haute-bourgeoisie in Europe.
In 1919, PRADA became an official supplier to the Italian Royal Family. Over the years, the Prada name gained increasing renown and prestige. The Group saw a turning point in the development of its activities at the end of the Seventies, when Miuccia Prada, Mario's grand-daughter, launched a partnership with Patrizio Bertelli, a Tuscan businessman already involved in the leather goods sector with Granello and Sir Robert. This partnership combined creativity and business ideas to commence a new era.
In 1977, Patrizio Bertelli set up I.P.I. spa to consolidate the production resources that he had built up over the previous ten years, including those of Sir Robert and Granello. In the same year, I.P.I. spa obtained an exclusive license from Miuccia Prada to produce and distribute leather goods bearing the Prada brand name. In the following years, the activities of the two families were gradually brought together within a single Group and, in 2003, IPI spa was merged into PRADA spa.
In 1983, the Prada family opened a second store in the prestigious Via della Spiga in Milan. The new store showcased the new brand image as it blended traditional elements with a modern architectural setting and would represent a revolution and a benchmark for luxury retail. In response to the growing demand for and appreciation of Prada products, the range was extended from leather goods (such as bags, luggage and accessories) to include footwear, as well as men’s and women’s ready-to-wear apparel.
From 1986, new stores were opened in New York and Madrid, followed by London, Paris and Tokyo. The first Prada womenswear fashion show was held in Milan in 1988. In 1993, Ms. Miuccia Prada’s creative inspiration led to the establishment of a new brand ― Miu Miu ― designed for women who are particularly fashion-forward and interested in trendy and sophisticated fashion and lifestyle. Miu Miu now offers women’s ready-to-wear, leather goods and shoes, and is an increasingly important component of our Group’s sales.
Organisation Structure
Target Market & Customer Demographic
- The Prada brand targets an international customer base that is modern, sophisticated, attuned to stylistic innovations, and expects craftsmanship of the highest quality.
Look & Feel
The brand’s iconic trademarks, which are readily recognized around the world, incorporate the Savoy coat of arms and Savoy figure-of-eight knot, reflecting its heritage as an official supplier to the former Royal family of Italy. Introduced in the 1980s, Prada’s famous black nylon bag with the signature triangle logo has been an enduring classic, with both the nylon bag and the logo becoming icons in the brand’s history.
The Prada brand represents the best of Italian culture and tradition, sophisticated style and uncompromising quality, and as one of the most innovative fashion brands are capable of re-defining “the norm” and setting new trends. Prada also captured the attention of literary and cinematic audiences when the novel “The Devil Wears Prada” was first published in 2003, and then was made into a movie in 2006. The Prada brand’s distinctive originality is built on its unique approach to style, craftsmanship and constant innovation in materials and designs, as we unceasingly exert creativity in the development of fashionable designs, sophisticated fabrics and innovative production techniques.
At the heart of the evolution of fashion, we believe Prada has been a sophisticated interpreter of its times and a forerunner of style and trends.
Price Architecture
Prada is a premium brand. It is very high quality which unfortunatly comes with a substantially high price tag.
The Space
Set inside Westfield Sydney, Prada’s arrival within the $860 million redeveloped premise provides the perfect partner in crime for luxe-hunters alike.
With its impressive façade (the second of its kind in the world), Architect Roberto Baciocchi has given it a military-esque breath of fresh air. Once inside Baciocchi has ensured the classic green tone and minimalistic environment that the brand is synonymous for is a constant throughout.
Neatly stocked with full ready-to-wear, shoes, bags and accessories – Prada’s Australian flagship store is two levels of utter bliss.
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