Is This Luxury’s New Normal? LVMH, Kering and Prada are among the companies who will seek to reassure the market this week after mixed-bag earnings resulted in a luxury sell-off. That, plus what else to watch for in The Week Ahead.
Prada Group
Prada Group is an Italian luxury goods conglomerate founded in 1913 by Mario Prada. Headquartered in Milan, the company operates a portfolio of high-end fashion brands, including Prada, Miu Miu, Church's and Car Shoe, among others, and has a global presence in over 70 countries.
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Pioneer of a dialogue with contemporary society across diverse cultural spheres and an influential leader in luxury fashion, Prada Group founds its identity on essential values such creative independence, transformation and sustainable development, offering its brands a shared vision to interpret and express their spirit. The Group owns some of the world’s most prestigious luxury brands, Prada, Miu Miu, Church’s, Car Shoe and the historic Pasticceria Marchesi. In 2021, to fully develop its potential, the Luna Rossa brand also becomes part of the Prada Group following the acquisition of Luna Rossa Challenge S.r.l.
The Group designs, manufactures and distributes ready-to-wear collections, leather goods and footwear in more than 70 countries through a network of 635 stores as well as e-commerce channels, selected e-tailers and department stores around the world. The Group, which also operates in the eyewear and fragrances sector through licensing agreements, has 23 owned factories and more than thirteen thousand employees.
The company is listed on the Hong Kong Stock Exchange as 1913.HK.
Company Snapshot
ESTABLISHED1913
HEADQUARTERSItaly
EMPLOYEES> 10,000
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Latest News & Analysis
Bag Charms Selling for $1,000 Are Retail’s Next Little Luxury
Tapping into the viral bag charm craze is ‘sensibly opportunistic’ for luxury companies that might as well ‘make some money off the back of it,’ said Neil Saunders, managing director at analytics firm GlobalData.
Prada Sales Miss Estimates Amid Luxury Slump
Sales at the group’s flagship Prada brand slid 3.6 percent in the second quarter against a ‘challenging’ and ‘somewhat unprecedented’ backdrop, the company said.
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After Prada ‘Sandal Scandal,’ Indian Sellers Tap Nationalist Pride to Boost Sales
Sales are surging for the 'Kolhapuri' sandals that garnered global attention after Prada sparked a controversy by showing a similar design on the runway without crediting its origin.
Trump Tariffs Hit European Luxury, Shares Tank
LVMH and Hermès stock fell about 3 percent and 4 percent respectively, in line with sector peers including Kering, Prada and Burberry, after the US president announced a 50 percent duty on imports from the European Union.
Prada Posts Industry-Beating Growth Ahead of Versace Acquisition
The Milanese fashion company reported quarterly sales up 13 percent, outperforming key competitors in a difficult market as Miu Miu continued its surge.
Will Prada’s Versace Bet Pay Off?
Prada is adding one of Italy’s most famous brands to its stable at an attractive price. But the group is also piling on complexity in a difficult luxury market.
Prada Group Defies Slowdown as Young Shoppers Flock to Miu Miu
Miu Miu’s retail sales remained strong in the fourth quarter, rising 84 percent, while Prada grew by 4 percent.
Versace Would Strengthen Prada But Come at a Cost
A deal would create a group with a broader base that is more resistant to business cycles, but turning Versace around could take years and hit short-term profits.
Report: Prada Moving Closer to €1.5 Billion Versace Deal
Talks between Prada and Versace owner Capri are progressing and could results in a deal in March, Bloomberg reports.