Patrizio Bertelli will be hosting the group’s Capital Markets Day today at Milan’s Fondazione Prada, providing an update on its growth strategies.

Financial targets in the medium range include reaching revenues of around 4.5 billion euros, which implies almost doubling 2020 figures, as last year the company posted revenues totaling 2.42 billion euros. Prada is poised “to generate growth in the long term,” believes Bertelli, through “its relevance, sustainability and incisiveness.”

In a moment of cultural and social change as the current one, luxury must continue to evolve in line with the market. Chairman Paolo Zannoni said “We saw an acceleration in the third quarter compared with the first half,” . After a “blip slowdown” in China in August, the area picked up immediately after. Continue reading →

For her last collection as the solo Prada creative director starting from September she will be joined at the creative helm by Raf Simons Miuccia Prada let five artists interpret her spring effort through five short videos, offering different interpretations and takes on the men’s and women’s lineup.

The message, The pandemic, the economic crisis, the social tensions spreading around the globe can’t leave anyone indifferent, and cannot leave a sensitive designer like Prada unresponsive.

This is a moment that requires some seriousness, a moment to think and to reflect on things. What do we do, what is fashion for, what are we here for? What can fashion contribute, to a community?”

In keeping with her commitment, the designer embraced an unfussy yet highly sophisticated approach, minimal yet emotional. Combining function and aesthetics, she proposed the alpha and the omega of the brand’s fashion lexicon, exuding no nostalgia, only contemporary desirability.

Touches of Nineties minimalism emerged along with a subtle Sixties vibe, but Prada really focused only on what is relevant today, for boys and girls, men and women, living in our own world, with its joys and its limits. Continue reading →

Breaking news: Raf Simons is the new co-creative director of Prada. He is to work in partnership with Miuccia Prada “with equal responsibilities for creative input and decision making,” the company said Sunday.

Simons starts April 2, and the duo’s first co-designed collection is to be unveiled for spring-summer 2021 during a fashion show in Milan in September.

A collaboration between the Italian brand and the Belgian designer, which had been rumored for months, was announced at a press conference at Prada headquarters on the last day of Milan Fashion Week, and during the Boss fashion show.

The development suggests Prada and Bertelli are readying a succession plan at the Italian fashion house they catapulted from a historic maker of nylon accessories to a luxury mega brand albeit one whose performance has trailed its peers in recent years due to various design and business missteps. Continue reading →