Log in / create account
What's your thing?
 
Search

Endpoint: Prada SpA



created on: 6/12/2021
by: bob (9178)
 
 

Company properties

General info :
Prada SpA is an Italian luxury fashion house that was founded in 1913 by Mario Prada. It specializes in leather handbags, travel accessories, shoes, ready-to-wear, perfumes and other fashion accessories.

The company was started in 1913 by Mario Prada and his brother Martino as a leather goods shop – Fratelli Prada – in Milan, Italy. Initially, the shop sold animal goods and imported English steamer trunks and handbags.

Mario Prada did not believe that women should have a role in business, and so he prevented female family members from entering his company. Ironically, Mario's son had no interest in the business, so it was Mario's daughter Luisa who succeeded Mario and ran Prada for almost twenty years. Luisa's daughter, Miuccia Prada, joined the company in 1970, eventually taking over from Luisa in 1978.

Miuccia began making waterproof backpacks out of Pocono, a nylon fabric. She met Patrizio Bertelli in 1977, an Italian who had begun his own leather goods business at the age of 24, and he joined the company soon after. He advised Miuccia on company business, which she followed. It was his advice to discontinue importing English goods and to change the existing luggage.

Miuccia inherited the company in 1978 by which time sales were up to U.S. $450,000.

In 1987 Miuccia and Bertelli married. Prada launched its women's ready-to-wear collection in 1989, and the designs came to be known for their dropped waistlines and narrow belts. Prada's popularity increased when the fashion world took notice of its clean lines, opulent fabrics, and basic colors.

In 1992, the high fashion brand Miu Miu, named after Miuccia's nickname, launched. Miu Miu catered to younger consumers, such as celebrities. By 1993 Prada was awarded the Council of Fashion Designers of America (CFDA) award for accessories.
Men's ready-to-wear collections were launched in the mid-1990s. By 1994, sales were at US$210 million, with clothing sales accounting for 20% (expected to double in 1995).

Prada was determined to hold a leading portfolio of luxury brands, like the Gucci group and LVMH. Prada purchased 51% of Helmut Lang's company based in New York for US$40 million in March 1999. Lang's company was worth about US$100 million. Months later, Prada paid US$105 million to have full control of Jil Sander AG, a German-based company with annual revenue of US$100 million.

Church & Company, an English shoes maker, also came under the control of Prada, when Prada bought 83% of the company for US$170 million.

The company's merger and purchasing sprees slowed in the 2000s.

By 2006, the Helmut Lang, Amy Fairclough, Ghee, and Jil Sander labels were sold. Jil Sander was sold to the private equity firm Change Capital Partners, which was headed by Luc Vandevelde, the chairman of Carrefour, while the Helmut Lang label is now owned by Japanese fashion company Link Theory. Prada is still recovering from the Fendi debt. More recently, a 45% stake of the Church & Company brand has been sold to Equinox.
As of March 2018, Prada's sales turned positive after declining since 2014.
In February 2020, Miuccia Prada and Patrizio Bertelli named the Belgian designer Raf Simons as co-creative director.
Relations :
Founded by [1913] : Mario Prada
This endpoint is new to the database, please check he (it) is not in with a similar endpoint name association (and use the ENA function if necessary).
Founded by [1913] : Martino Prada
This endpoint is new to the database, please check he (it) is not in with a similar endpoint name association (and use the ENA function if necessary).
Parent company of [2001 - 2011] : Genny SpA
This endpoint is new to the database, please check he (it) is not in with a similar endpoint name association (and use the ENA function if necessary).
Uses the brand name [2001 - 2002] : Byblos
This endpoint is approved in the database from previous submissions.
Uses the brand name [1999 -] : Church's
This endpoint is approved in the database from previous submissions.
Uses the brand name [1999 - 2006] : Helmut Lang
This endpoint is new to the database, please check he (it) is not in with a similar endpoint name association (and use the ENA function if necessary).
Uses the brand name [1999 - 2006] : Jil Sander
This endpoint is approved in the database from previous submissions.
Uses the brand name [1992 -] : Miu Miu
This endpoint is approved in the database from previous submissions.
Uses the brand name : Prada
This endpoint is approved in the database from previous submissions.
Websites
Source :
Copied Wikipedia parts under license :
ENA's

Brand

(5 items)

Item number : 45188

Submitted by : bob (9178)
on : 06/12/2021
Refined by : bob (9178)
Last updated on: 06/12/2021