Prada is one of the most iconic brands in fashion history. The designers behind the brand have continually striven to be innovative while maintaining their classically refined style. The House of Prada has proven its longevity, and the Prada name will still be in demand for years to come.
INTRODUCTION TO THE BRAND
PRADA GROUP A leading player in the luxury industry, Prada Group is an experimental workshop of ideas. Unfettered by preconceived style codes, the creations of the Group’s brands – Prada, Miu Miu, Church’s, Car Shoe and Pasticceria Marchesi represent the answer to the exploration of society, at the same time, serving as precursors and pioneers of ever-changing scenarios. A perspective that places at the heart of its inspiring and operative principles basic values as uncompromised quality, valorisation of labour and freedom of creative expression.
"Fashion is instant langauge." -Miuccia Prada
PRADA • EST 1913 •
The history of the Group begins in 1913 when Mario Prada, Miuccia Prada’s grandfather, opened the first Prada store in Milan. Located in the prestigious Galleria Vittorio Emanuele II, the exclusive Prada boutique offered luggage and luxury goods manufactured with the finest artisanal techniques, using exquisite materials. The boutique soon establishes itself as elegant shopping destination for the most prestigious Italian and European costumers, consolidating its role in 1919 with the title of Official Supplier of the Italian Royal House, which allows the brand to include the House of Savoy coat of arms and knotted rope design in its trademark logo. Miuccia Prada and Patrizio Bertelli started working together in the late 1970’s, laying the foundation for the future international expansion of the Group; Patrizio Bertelli pioneered the introduction of a new business model in the luxury industry, based on the direct control of all processes, applying rigorous quality criteria through all stages of production. A business model that goes hand in
hand
with
Miuccia
Prada’s
maverick
creativity,
which
commanded
international
attention for its innovative approach inspired by her unconventional observation of society that allows her to anticipate - and often influence – fashion and style trends. Today the Prada brand offers men’s and women’s leather goods, clothing and footwear, combining contemporary, innovative and sophisticated design with the uniqueness of handcrafted products.Prada also operates in the eyewear and fragrance sector.
The Prada Group also includes: Miu Miu - Miuccia Prada’s “other soul”- a brand with a provocative, nonchalant and sophisticated attitude; Church’s,
lleading traditional
high-end men’s footwear manufacturer; Car Shoe, footwear brand known for its iconic studded rubber sole moccasin, and Pasticceria Marchesi, historic pastry shop, renown for its exceptional contemporary interpretation of traditional specialties.
On June 24, 2011, Prada Spa (HKSE code: 1913) listed 20% of its shares on the Hong Kong stock exchange, where the company was valued at €9.2 billion. The Group’s products are manufactured in 18 company-owned sites,15 of which are located in Italy, 1 in United Kingdom, 1 in France, and 1 in Romania and by a network of longstanding and highly experienced contractors.
Each stage of the production process is directly monitored and controlled: from the selection to the purchase of raw materials (including external suppliers), from the fabrication of prototypes, to the planning and coordination of in-house and outsourced production.
As
of
January
31st,
2017,
the
Group’s
distribution
network
extends
across
75
countries, counting 620 Directly Operated Stores, brand’s e-commerce, a selection of luxury department stores and retailers in the most prestigious and exclusive locations and the most important e-tailers.
BRAND HISTORY
The Prada brand dates back to the beginning of the last century: in 1913, Mario Prada opened an exclusive store in the Galleria Vittorio Emanuele II, Milan, selling handbags, travel trunks, beauty cases, tasteful
accessories, jewelry and other luxury items. Thanks to the innovative design of its
goods, created using fine materials and sophisticated techniques, Prada rapidly became a favorite of the aristocracy and the most stylish members of the haute-bourgeoisie in Europe.
In 1919 Prada became an official
supplier to the Italian royal family; since then Prada has been
able to display the House of Savoy coat of arms and knotted rope design in its trademark logo.
Over the years, the Prada name gained ever greater renown and prestige.
The turning point for the Group came at the end of the 1970s when Miuccia Prada, Mario Prada’s granddaughter,
partnered with Tuscan entrepreneur Patrizio Bertelli to combine creativity with
business acumen and lay the foundations for the ensuing international expansion. Patrizio Bertelli broke new ground in the luxury goods sector by
introducing a business model
based on direct, internal control over all processes and applying strict quality criteria to the entire production
cycle. Miuccia Prada’s creative talent attracted international attention due to her
innovative approach, inspired by an unconventional outlook on society, enabling her to anticipate and often influence new fashion and design trends.
In 1977 Patrizio Bertelli founded built up
IPI spa, where he concentrated the production resources he had
over ten years in the leather goods industry. In the same year, IPI spa
obtained a license
from Miuccia Prada for the exclusive production and distribution of Prada brand leather goods. In the following years the two family businesses gradually merged into a single Group.
In 1983 the Prada family opened a
second store in prestigious Via della Spiga in Milan, one of
Europe’s key shopping destinations. The store showcased the new brand image by pairing traditional elements with modern, innovative architecture,
thereby revolutionizing and setting a new standard
for luxury retail.
In response to the growing appreciation of Prada products, the leather goods range was expanded to include the
first women’s footwear collection in 1979. The first clothing collection was launched in
Milan in 1988. At the same time the internationalization process began, with the first store openings in New York and Madrid, followed by London, Paris and Tokyo.
In 1993 Prada made its debut in menswear with its first men’s clothing and footwear collection. That same year, Miuccia Prada’s creative inspiration led to the establishment of a new brand, Miu Miu, conceived for sophisticated, stylish women who love to stay ahead of fashion trends. Miu Miu now creates women’s ready-to-wear apparel, handbags, accessories, footwear, eyewear and fragrances, and accounts for a significant share of the Group’s sales.
In 1993 Miuccia Prada and Patrizio
Bertelli created “Milano Prada Arte”, which subsequently
became “Fondazione Prada”, to pursue their interests and passions in the world of art and culture.
In 1997 Patrizio Bertelli organized the Prada Challenge sailing team to compete for the 2000 America’s Cup and in the same year Prada launched its leisurewear range featuring the “Linea Rossa” (red line).
In 1999, the Prada Group acquired
the classic brand Church’s, founded in 1873 in Northampton,
England. The brand, specialized in high-end handcrafted footwear, is a universally
recognized
symbol of British tradition and sophisticated elegance.
In 2001, the Prada “Epicenter” York
store, designed by Rem Koolhaas, was opened on Broadway in New
City. This was the first store of the Epicenters project, whose purpose
shopping concept and try out inventive ways to
was to redefine the
interact with customers. A second Epicenter store
was opened in Aoyama, Tokyo, followed by a third one on Rodeo Drive, Beverly Hills, in 2004. During the same year, Prada acquired control of Car Shoe, a classic Italian brand renowned for its exclusive driving moccasins.
BRAND NAME The name Prada comes after the initals of the two brothers-Mario Prada and Fratelli Prada and hence they named the brand as Prada, It was later on contiued by Mario's grand daughter Miuccia Prada nad since the legecy was continued the brand also continued. The brand name carried history and hence helped them compete with their compititors.
PRADA LOGO
The Prada logo has remained much the same over the course of the corporation’s history. Moreover, it is interesting to note that said logo is an excellent example of a design philosophy that stresses elegance over excess as well as simplicity over complexity, which is something that contrasts with those of some of Prada’s competitors. Having said this, much the same isn’t exactly the same. The earliest version of the Prada logo was fancier than the one that sees the most use in the present times. In short, it consisted of the Prada name enclosed in a circle formed from a knotted rope. On top of the circle was a coat of arms. Meanwhile, beneath the Prada name but still contained within the circle was “Milano DAL 1913.” This version of the Prada logo still sees some use here and there, but for the most part, it has been replaced by a much more simplified version.Speaking of which, other details of the Prada logo have managed to remain remarkably consistent. The font for the Prada name has remained the same since the start, which is one of the factors that have helped it stand out, seeing how said font is one of a kind. Furthermore, the Prada logo is almost always black, though it has been known to show up in a small number of other colors such as gold and white under certain circumstances as well. This color choice tends to make the Prada logo very noticeable when contrasted with its background, thus serving to strengthen Prada’s brand value by making it easier for people to not just see the signs of Prada but also make those sights stand out to them.
BRAND ELEMENT
Prada clothes and accessories have been described as both classic and eccentric, frumpy but hip, marked by an ambiguous techno-retro sensibility. On the one hand, Prada's style is modern, drawing on northern Italian traditions of discreet elegance and fine craftsmanship. On the other hand, as Miuccia Prada said in 1995, "I make ugly clothes from ugly material. Simply bad taste. But they end up looking good anyway." She may have been referring to that season's "bad taste" collection, featuring such styles as a Formica check design, which evoked the look of 1970s polyester. Several years later she said, "I have always thought that Prada clothes looked kind of normal, but not quite normal. Maybe they have little twists that are disturbing, or something about them that's not quite acceptable.
product categories
clothing for men and women
EYEWEAR
PERFUMES
shoes and heels
BAGS
WATCHES
BRAND IDENTITY BRAND IDENTITY PRISM PHYSIQUE
PERSONALITY Elegant
Modern style
SOPISTICATED
OPULENT FABRICS
Forward Thinking EARHTY TONES
R E L A T I O N S H I P
ENDURING
Clean Lines
CONFIDENT
ITALIAN
GRACEFUL STRAIGHT FORWARD
CRAFTSMEN RICH TATSE
MODERN FUNCTIONAL
REFINED
NATURAL GRACEFUL
FEMINIE
LEATHER GOODS
CONFIDENT
ULTRA MODERN
REFLECTION
SELF-IMAGE
C U L T U R E
PRADA ART AND ARCHITECTURE Inaugurated in 2000, Prada's Milan Headquarters are located in a former industrial space between via Bergamo and Via Fogazzaro. An art installation by Carsten Höller that takes the form of a three-story metal slide leads from Miuccia Prada's office to the interior courtyard.
Completed in 2002, Prada's New York City Headquarters open, located in a former Times Square piano factory renovated by the Herzog & de Meuron architecture firm.
2003 – "Garden-Factories" Project – Prada collaborates with architect Guido Canali to rejuvenate the landscape surrounding their manufacturers.
In 2004, "Waist Down – Skirts by Miuccia Prada" bowed at the Tokyo Epicenter. A traveling exhibition featuring 100 skirts designed by Miuccia Prada and conceived by curator Kayoko Ota of AMO in collaboration with Mrs. Prada, the exhibition went on to Shanghai, New York, Los Angeles and Seoul.
Completed in 2009, Prada commissioned an unusual multi-purpose building from Rem Koolhaus's OMA group called the Prada Transformer in Seoul. The building was first used to display the "Waist Down – Skirts by Miuccia Prada" exhibition, and later changed into a movie theater.
In 2012, Mrs. Prada, along with designer Elsa Schiaparelli, was the subject of the Metropolitan Museum of Art's exhibition, "Impossible Conversations". The Los Angeles Epicenter was also restored in 2012.
In 2014, an exhibition called "Pradasphere" bowed in London’s Harrods and Hong Kong’s Central Ferry Pier 4, highlighting the Prada universe.
HONG KONG
In 2015 Prada opened a permanent home for Fondazione Prada in Milan. Located in a former distillery redesigned by Rem Koolhaus's OMA group, it hosts a permanent collection of site-specific art as well as galleries of rotating exhibits. Intended to act as a gathering space for the local community, it also features a performance space, movie theater, bookstore, and a cafe – Bar Luce,with an interior designed by director Wes Anderson.
MILAN
CHINA
In 2016, after 6 years of restoration Prada opened an events space in a historic residence in the Rong Zhai district of Shanghai, China.
SUB BRANDS OF PRADA
MARKETING CAMPAIGNS 1)Prada x Prada - launched an interactive vr campaign
The Prada x Prada is an activation that aims to promote the fragrances—L’Homme Prada and La Femme Prada.It makes use of an interactive app to take users in a digital journey to a virtual reality Prada world. Along the way, they can activate multiple scenes or experiences and choose various paths. Then, they witness various textures, sounds, fragrances and spaces, until they reach the climactic reveal of La Femme and La Homme fragrances.Prada x Prada was launched in Heathrow airport. As part of the campaign, some celebrities joined the brand’s activation.
2) Il Palazzo – launched a mobile app that featured its latest collections Prada’s desire to create innovative marketing campaigns has led the brand to create ‘Il Palazzo‘—it’s first mobile app.
The app enables users to explore a virtual museum created by James Lima. Inside, visitors can view 150 charcoal illustrations of Prada’s Fall/Winter 2012 collections, against the walls and across the doorways.
3) Prada 365 – challenged conventions with an innovative digital campaign The campaign is composed of continuous visual advertisements that encompass print, online and social media. Instead of a typical seasonal campaign, the new campaign will feature spontaneous combinations of concepts and settings, with a focus on a variety of the brand’s products.
The brand’s emphasis on diversity was apparent on the debut of Prada 365 at the Spring/Summer 2017 campaign. The released images had five themes: Pathways, Frontiers, Stations, exits and Terrains. It included various models such as Jude Law, Oliver Houlby, Willy Vanderpearre among many others.
FASHION SHOWS On 26 February 1988, a small item in the fashion industry trade bible Women’s Wear Daily announced the plans of Prada – then an Italian accessories and luggage brand, founded in 1913 – to offer a women’s ready-to-wear line. “The line will be designed by Miuccia Prada, designer of Prada accessories,” stated the piece – Prada having taken the company’s helm in 1979. Under her direction, the company had already created what would become cemented in fashion history as the ultimate anti-status bag, the Prada nylon rucksack, a successful antidote to the glitzy, gilded extremes of 1980s fashion but poised to go stratospheric in the 1990s, a hand-held summary of the era’s dominant trends of deconstruction and minimalism, and a portent of things to come.
Because across the ensuing three decades, Prada would revolutionise fashion – a process chronicled in Prada Catwalk, which charts every Prada womenswear catwalk show from the very first in 1988 through to the brand’s Spring/Summer 2018 collection, something of a ‘greatest hits’ riffing on Miuccia Prada’s own obsessions with maid’s uniforms, schoolgirl garb and twists on luxury.
Backstage after each, Miuccia Prada describes, discusses and dissects her work – her voice is captured in this book too, illuminating her through-processes either in real-time or in retrospect, adding an extra layer of analysis and depth of thought.
Autumn/Winter 1988
Shown in March of 1988, the debut Prada ready-to-wear collection riffed on Miuccia Prada’s own wardrobe – of school uniforms and aches of black and brown, running counter to 80s ideas of excess being synonymous with luxury. This attitude – a wide coat wrapped and clasped shut – reflected Mrs Prada’s own way of wearing clothes, and reappears time and time again in her shows.
Spring/Summer 1996
Deliberately ‘off’ colours and retro patterns drawn from wallpaper and formica lead to this collection – one of Prada’s most influential – being dubbed ‘Ugly Chic’. “They thought it was in horrible taste – the famous show about ‘Ugly Chic’, which I think is a terrible phrase, but that’s how it came out,’ said Miuccia Prada 20 years later. “In fashion, what was welldeveloped in literature, in movies, in art, was considered badness. Still now, I think that a part – the more conservative part – of the fashion world thinks that they’ll stick with the idea of glamour and beauty that is so obvious, so old.”
Spring/Summer 2000
For the new millennium, Miuccia Prada went back to tradition and classicism. “This was the only new thing possible. Super chic, very ladylike. In the past I’ve done so much experimentation but you can only go so far.”
Autumn/Winter 2002
“I’m tired of hearing people tell me that I don’t do sexy things... I’m interested in the obsession with sexiness. I worked on what people think is sexy... my idea of sexy... is personal,” said Miuccia Prada in 2002.
Autumn/Winter 2005
“I had an instinct to go back. To go back not to what I’d done before but to something more simple,” Miuccia Prada said at the time of her Autumn/Winter 2005 collection. “It was not only about the exterior but also the interior, a different aspect of femininity. The word dignity came up and power: dignified, powerful, deep, clever, beautiful women.”
Autumn/Winter 2007
A collection that fetishised texture – with feathers, fake fur and celluloid pailettes forming surfaces that were “simple but strange”. “In the end, if you just want to look thin and sexy – to wear a narrow, sexy dress – then you end up with clothes that are boring,” Miuccia Prada said. “There is no possibility for invention... it’s much more exciting to have something interesting to look at and to wear and to experience your body in a different way.”
Autumn/Winter 2008
“You have to go all the way. A little touch of lace becomes pretty,” said Miuccia Prada. Pretty is a pejorative term in her vocabulary: this collection pushed lace all the way, evocative of funerals, weddings, christenings – every stage of a woman’s life.
Autumn/Winter 2014
Of A/W14, Miuccia Prada says: “I really went bold. It’s about humanity, it’s about people’s feelings, emotion. I wanted to transmit that kind of humanity and that kind of thinking.”
Autumn/Winter 2016
“It was about the history of women,” Prada,
says
looking
Miuccia back
to
2016. “Women have more facets [than men]. We are so We
much
more
complex.
are
lovers,
mothers,
workers.
We
have
to
be
beautiful.”
Spring/Summer 2018
And to the latest: “I wanted to break the rules of the classic, to discuss a wish for freedom and liberation and fantasy and, on the other side, the extreme conservatism that is coming – the duality out there,” Miuccia Prada says of Spring/Summer 2018.
MOVIE BASED ON THE BRAND
The 2006 feature film The Devil Wears Prada (based on the book of the same name) earned Meryl Streep an Oscar nomination for her role. Her shoe wardrobe for the film was said to be "at least 40% Prada" by the costume designer Patricia Field. Anna Wintour, editor-in-chief of American Vogue and the supposed inspiration for Meryl Streep's character, wore Prada to the film's premiere
The 1999 feature film 10 Things I Hate About You features the following exchange extolling the virtues of Prada ownership
PRADA x MR PORTER
BRAND COLLABORATIONS MR PORTER had officially launched a capsule collab with Italian powerhouse Prada. The 32-piece collection marks the first time the brand has collaborated with an online menswear retailer, taking inspiration from the ‘50s and ‘80s, specifically the popularity of bowling. The collab focuses on camp-collar shirts, block-panelled cardigans, knitted T-shirts, blouson jackets in satin and suede and two printed T-shirts with a prominent Prada bowling logo.
After teasing a joint project for weeks, Prada and Adida had
an all-white take on the Adidas Superstar sneaker, made in Italy by Prada, which was a limited edition of 700. The sneaker will would released as unisex and features an edition number embossed on the outside, as well as the Prada logo on the tongue and side. In addition to the shoe, the brands also released a large version of Prada’s bowling bag tote, also in white leather, that hybridizes Prada’s iconic silhouette with the functionality of an Adidas gym bag. The items will were sold together as a set.
PRADA X ADIDAS
shared the debut products from their collaboration. The first was
Prada x Michael Elmgreen & Ingar Dragset
Set against the stunning scenery of the Texas desert, this site-specific installation is Michael Elmgreen and Ingar Dragset’s ironic take on luxury shopping. Echoing the design of Prada stores you can find in the most elegant neighborhoods around the world, the installation, succinctly titled “Prada Marfa”, displays the brand’s Spring/Summer 2005 collection. Since its creation, the piece has become a site of cultural pilgrimage to art lovers, but also victim to repeated vandalism.
The collaboration between PRADA and LG – which began in 2006 and resulted in two premium phones being introduced in 2007 and 2008 – focuses on key elements within the smartphone, including software and user interface, down to its design and packaging.
phone space, was an unqualified success, selling more than one million units. This premium handset combined high-end technology with a design embodying superior style. As evidence of its place in design history, the PRADA phone by LG 1.0 is part of the permanent collection in New York City’s Museum of Modern Art (MoMA) and the Museum of Contemporary Art (MOCA) in Shanghai.
The PRADA phones by LG were revolutionary in the technology they offered to users. The PRADA phone by LG 1.0 was the world’s first touchscreen mobile phone, and the 2.0 provided an innovative mobile experience through its unique watch with Link technology, which allowed for easy access to caller ID, SMS text messages, call history, call block and two-way alarm notification.
Further information about the global collaboration between Prada and LG, and about the PRADA Phone by LG 3.0, is available at www.pradaphonebylg3.com
PRADA X LG
The PRADA phone by LG 1.0, a pioneer in the fashion-house mobile
SWOT ANALYSIS
STRENGHTS
WEAKNESSES
Design / quality / heritage ; product portfolio Dynamic capabilities Controlled production and distribution; globalization Marketing strategies and skills
Competitors have a stronger brand value and are more aggressive Scattered business model few iconic products high cost structure
Intra-Industrial; inter-industrial alliances.
OPPURTUNITIES Can increase brand value through value adding(new value proposition), innovation New startegic partners and collaborations Concentration on certain products and brands Gaining competitive over competitors.
THREATS Growing debts Loosing luxury brand value Competitors growth is faster Unsustainable parternships Counterfeits.
CONCLUSION By this document we understand of Prada has come far over the years from a small store to a major business in the luxury industry. The system of fashion retailing has become complex in response to changing consumer tastes and extended competition tastes, and extended competition base and advances in marketing technology. The company has made quite many significant improvements in its business performance through different periods. Words that describe their business development through years are constant innovation (materials, products, customer experience, new value prepositions), close customer relationship, dynamic capabilities, quality control, globalisation, aspiration and acquisitions, strong marketing, intraand inter industrial partnerships and luxury brand marketing.
Consistent business model decisions and innovative approaches are crucial for the company’s future business in order to keep its luxury exclusivity and position among the most preferred luxury fashion market.
SUBMITTED BY : Preeti Karia PGDFDBM2019 SUBMITTED TO : ms. Yamini