PRADA History

Brand History Board: the origins and background of the brand – heritage, location(s), market (position and sales), philosophy and values. This board should introduce and contextualise your selected brand.

Mario Prada:

  • Mario Prada (born in Milan; died in 1958) was the founder and original designer of fashion label Prada, a company specializing in many high fashion goods for men and women, including: shoes, handbags, luggage, and leather goods. Prada was founded in 1913.

Miuccia Prada:

  • Miuccia Prada (born May 10, 1949 in Milan, Italy) is the grand-daughter of Mario Prada. She is an Italian fashion designer best known for being the head designer of the Prada fashion house. She is well-known for her use of minimalist designs to achieve a traditional look with a modern twist.

Patrizio Bertelli:

  • Patrizio Bertelli, is chief executive officer of Prada Group and husband to Miuccia Prada.


Brand Heritage: Summary of Research and Timeline

  • 1913-19: THE FIRST PRADA STORE. Mario Prada, Miuccia Prada's grandfather, launched the Prada brand in 1913, when he opened the first store in Milan's famed Galleria Vittorio Emanuele II, where he offered priceless bags, trunks, and travel accessories.
Prada is named Official Supplier of the Italian Royal House in 1919, and becomes an icon of Italian aristocracy and upper-middle class.
  • 1970s: Miuccia Prada began working for the company in mid-70s.  She made a career out of designing accessories. From 77-79 Patrizio Bertelli's entrepreneurial intelligence meets Miuccia Prada's profound creativity. This collaboration causes Prada to present it's first collection of women's shoes.
  • 1980s: Retail Expansion. In 83' there's a new aesthetic a.k.a 'Prada Green'. Hence the opening of the first Green store in Milan followed by other countries. In 88' Prada presents its first Fall/Winter 1988 collection on Milan’s catwalk.
  • 1990s: More international Expansion and first menswear in 93'.
  • 2010s - Range of new products such as Miu Miu eyewear, fragrances, LG mobile phone.

Location:

  • Originally based in Milan, Italy. 
  • Other stores based in Europe, Africa, North and South America.
  • In 2020, Prada operated 633 owned stores and 26 franchised stores worldwide.


Market Position:

PRESS RELEASE
PRADA SPA APPROVES GROUP RESULTS AS OF 30 JUNE 2021 
MULTI YEAR BRAND INVESTMENT STRATEGY DELIVERS EXCELLENT RESULTS
RETAIL SALES WELL ABOVE 2019 LEVELS 
EBIT AT 11.1%. STRONG IMPROVEMENT IN NET FINANCIAL POSITION 

 Milan, 29th July 2021 - The Prada S.p.A. Board of Directors today reviewed and approved the Consolidated Financial Results for the Half Year ended 30 June 2021.

 Key highlights 
  •  Strong progress in Retail revenues, well above H1-2019 levels, despite continued restrictions 
  •   Profitable growth driven by full-price sales
  •  E-commerce growing by triple-digit percentage for the fifth quarter in a row  Increasing store productivity.
  •  Gross Margin improved at 74.3% of revenues 
  •   Efficient management of operating expenses and production cycles 
  •   EBIT above pre-Covid levels  Strong cash flow generation and marked improvement in Net Financial Position

Strategy:

The Prada Group has continued to strengthen and invest in its brands, through strict control of the distribution channels on-line and off-line, enhancement of the product offer and a further improved customer experience. Highly acclaimed Spring/Summer and Fall/Winter fashion shows continued to grow visibility and engagement online.

  

Philosophy and Values:

"Today this is no longer enough: we must be the drivers of change" - Muiccia Prada & Patrizio Bertelli.

  • Re-thinking the Rules: To constantly broaden the horizons of luxury with no fear of facing contradictions, re-work things and be passionate about what you do.
  • Always research unexplored solutions.
  • Seeking perfection in their work, refining and surpassing results they previously achieved.
  • The Group seeks diversity of cultures and abilities to improve intellectual curiosity and evolutionize contemporary society.
  • They are committed to find sustainable paths in order to respect the places they operate in and the people who work for them.

Images that may be used on history board 

Prada History Board:

1913 


















1988









Prada Green colour scheme

Prada green store
https://www.pradagroup.com/en/group/history.html
prada mens shoes 90s
https://www.1stdibs.com/fashion/clothing/shoes/prada-vintage-1990s-shoes-black-fabric-loafers-size-38/id-v_3368773/
Bella Hadid with MiuMiu bag
https://www.miumiu.com/ww/en/miumiu-club/campaigns/ss20-campaign.html
Model
https://wwd.com/fashion-news/fashion-scoops/prada-takes-over-florists-with-resort-ad-campaign-1203370016/

Secondary Research:

  • History. Prada Group. (2021). Retrieved 12 October 2021, from https://www.pradagroup.com/en/group/history.html.
  •  Angell, L. Prada - History. Langell.art. Retrieved 12 October 2021, from http://www.langell.art/pradahome.html.
  • Number of owned and franchised stores of Prada 2020 | Statista. Statista. (2021). Retrieved 12 October 2021, from https://www.statista.com/statistics/592386/number-of-owned-and-franchised-stores-of-prada/.
  • Store Locator PRADA. PRADA. (2021). Retrieved 12 October 2021, from https://www.prada.com/ww/en/store-locator.html.
  • PRADA SpA. (2021). Press Release (p. 3). Retrieved from https://www.pradagroup.com/content/dam/pradagroup/documents/Shareholderinformation/2021/inglese/H1-2021/Press%20release_Prada%20S.p.A.%20approves%20Group%20results%20as%20of%2030%20June%202021.pdf  "Key Highlights and Our strategy: increase brand momentum and profitability".
  • Group Values. Prada Group. (2021). Retrieved 12 October 2021, from https://www.pradagroup.com/en/group/manifesto.html. " "Today this is no longer enough: we must be the drivers of change" - Miuccia Prada & Patrizio Bertelli.
  • L.Nolen, J. Miuccia Prada | Biography, Designs, & Facts. Encyclopedia Britannica. Retrieved 12 October 2021, from https://www.britannica.com/biography/Miuccia-Prada.
  • Patrizio Bertelli. Forbes. (2021). Retrieved 12 October 2021, from https://www.forbes.com/profile/patrizio-bertelli/?sh=4591bbec6360.

 Images 

  • [Image]Angell, L. (2021). Prada - History. Langell.art. Retrieved 12 October 2021, from http://www.langell.art/pradahome.html#gallery-7. (Prada approval image).
  • [Image]FW 1988 Womenswear - From the Catwalk Exit 2/53. Prada. (2021). Retrieved 12 October 2021, from https://www.prada.com/gb/en/pradasphere/fashion-shows/1988/fw-womenswear.html.  (brunette girl)
  • [Image]FW 1988 Womenswear - From the Catwalk Exit 6/53. Prada. (2021). Retrieved 12 October 2021, from https://www.prada.com/gb/en/pradasphere/fashion-shows/1988/fw-womenswear.html.  (blonde girl)
  • [Image] Prada Bianchi and Patrizio Bertell are being investigated by Italian tax authorities | Buro 24/7. BURO. (2014). Retrieved 12 October 2021, from https://www.buro247.me/fashion/news/prada-tax-evasion-announcement.html.  (image of M&P)
  • [Image]. Retrieved 12 October 2021, from https://www.pinterest.co.uk/pin/76420524918090840/. (Green Aesthetic) 

Primary Research:

  • In progress...

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