Prada
 | |
| Company type | Privately held |
|---|---|
| Industry | Consumer Goods |
| Founded | 1913 |
| Headquarters | , |
Key people | Mario Prada, Founder Patrizio Bertelli, CEO Randy Kabat, SVP & CCO Donatello Galli, CFO |
| Products | Textile - Apparel clothing |
| Website | www.prada.com |
Prada, S.p.A. is a well-known Italian fashion company (also known as a "label" or "house") with retail outlets worldwide.
History
The company, originally known in Italy as "Prada Brothers", was founded in 1913 by Mario Prada in Milan. In 1978, Mario's granddaughter Miuccia Prada inherited what was still a leather goods business from her grandfather, and led the company's expansion into couture with an overall more bohemian style. Miu Miu is a second line of clothing, often simpler and evoking a continual image of high-end vintage items. It was followed by the Prada Sport 'Linea Rossa'
Currently Prada is considered one of the most influential clothing designers in the fashion industry.
Acquisitions
Following the lead of other companies in a popular trend to absorb as many other fashion houses as possible, Prada took on large debts when it acquired the financially floundering Rome-based house of Fendi in the early 1990s. Prada assumed shares in Fendi with the LVMH company. Prada was unable to turn around/support the money-losing Fendi label, and sold its Fendi shares to LVMH. Prada is still recovering from this debt. In 1999, the company acquired Church's, the English maker of quality shoes; more recently a 45% stake has been sold to Equinox.
The Prada Group's other notable purchases in the 1990s were the Helmut Lang and Jil Sander labels. By 2006, however, both labels had been sold. Jil Sander was sold to the private equity firm Change Capital Partners, which is headed by Luc Vandevelde, the chairman of Carrefour, while the Helmut Lang label is now owned by Japanese fashion company Link Theory. In May of 2007, Prada joined forces with cell phone maker LG Electronics to create the LG Prada (KE850) phone. It retails for $800.
Architecture
Prada has commissioned architects, most notably Rem Koolhaas and Herzog & de Meuron, to design flagship stores in various locations.
In 2005, near the West Texas towns of Valentine and Marfa, a pair of Scandinavian artists, Emily Milne and Zoe Brown, unveiled Prada Marfa, a sculpture masquerading as a Prada mini-boutique. Located along an isolated stretch of U.S. Highway 90, the 15 by 25-foot adobe and stucco building was partially funded by the Prada Foundation.
Prada boutiques and megastore
 | The examples and perspective in this article may not represent a worldwide view of the subject. |
Prada has 9 boutiques and 2 epicenter/megastores in the U.S., with a 4th (3rd in the U.S.) epicenter store being built in Boston. (Epicenter stores are much larger than normal boutiques, carry much more merchandise, and usually have numerous floors)
U.S. Boutiques:
Worldwide Epicenters:
External links
- Prada.com — Web page for the Prada fashion house.
- Prada - History