Prada Revamps Strategy to Attract Next Generation of Customers

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Milan-based Prada SpA, the luxury company jointly run by husband and wife team Miuccia Prada and Patrizio Bertelli changed strategy to focus on online sales, shops and products. Those changes were “visible and supported by positive signals from the market,” said chairman Carlo Mazzi. “The product mix is the right one.”

Mazzi said the brand was working to “adapt to rapidly changing times and to interpret the spirit of new generations without losing sight of our roots.”

Fans of Prada tend to have two things in common, reports Vogue: “an appreciation for intellectualism in design and a desire to wear it in an artful but still pretty way.”

Creative head Miuccia Prada “is known for her ability to divine the future of fashion and launching seismic-force trends that ripple through the industry with impressive—and lasting—effects,” adds the pub.

The brand’s refreshed products present a more casual persona including a sneaker collection of Prada’s iconic black nylon fabric and a reissue of its Linea Rossa line recognizable for its red tag logo.

A large part of Prada’s return to growth is due to a burgeoning and robust Chinese market, prompting the luxury accessory purveyor to reissue its most iconic products for a new generation of consumers, including its nylon belt bags, block-heeled loafers, comic-book images and the banana print. And the brand is focused on China as it woos influential fashion bloggers.

The brand is leveraging social media to educate younger customers.

As belt bags and cross-body sacks returned in force this spring, Prada’s fashion shows were popular on social media with celebrities like Dakota Fanning and Chloe Sevigny strutting the runway.

Shops are being renovated and often relocated to trendier neighborhoods, and Prada has launched 36 pop-up stores.

As for the future, Bertelli said recently his family will retain its 80% stake in Italy’s biggest luxury goods group and said his son Lorenzo may one day head the company. Founded in 1913, Prada remains that rare, enduring breed where tight control, a founding-family flamboyance and an enduring eye towards fashion and consumer aspiration, combine to preserve a luxury legacy brand.

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