Luxury Fashion Brand Report: Prada

Is Prada Worth It, or is it Nada?

If you listen, read, or see the name “Prada,” we’re sure that the first that comes to mind is the fashion brand that it’s been around for decades.

To be honest, the simple mention of Prada makes us feel like we’re high in society, and this alone can help you imagine how much status the brand has.

But what does it take to bring a brand to the top and remain there not only for a couple of years but basically since it was founded? Well, lots of work is more than evident, so we’ll have to go over details that help us understand why Prada is unique in the first place.

The History of Prada

The Prada luxury brand is one of the most prestigious and well-known fashion labels in the world. It was founded in 1913, so as we mentioned before, it has a long history.

Everything started with Mario Prada and his brother Martino. They were thinking about starting a shop that sold leather goods, so the first products or items of the brand were bags, trunks, steamers, and accessories for traveling.

Mario Prada was born in Milan, Italy, and died in 1958.

There isn’t a large background or history about the founders. Despite them having the main ideas and concept of the brand, it is hard to know what they specialized

in, but we have something else to remark to understand why Prada is such a famous brand nowadays.

Mario Prada wasn’t someone who believed women should be involved in the business (yes, call it the old school and sexism). This is why female family members weren’t involved during the first years nor entered the company in any possible way.

However, Mario’s son wasn’t interested in business, and instead, he decided to focus on another profession.

As a result, Mario’s daughter, Luisa, was the person who succeeded his father and was in charge of Prada for over 15 years.

Then, in 1970, her daughter Miuccia Prada joined the company and took over the presidency in 1978.

Although Prada was already famous thanks to Mario and his brother’s empire, the truth is that there has been another type of success since Miuccia took over the company. Thanks to Patrizio Bertelli, she has been able to change several factors that were disadvantages only.

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What Can You Buy in Prada?

If you asked this during the early years, leather goods were the only things you would get from the company. After all, it was starting as these products (as we previously mentioned) were the only ones offered.

However, over the years, Mario’s daughter and granddaughter have taken over the empire and made sure to expand the variety in designs and items.

The most remarkable advances are with the current head designer and owner of the company, Miuccia.

When she inherited the company in 1978, finding Bertelli to have him as her business manager allowed her to pour creativity into the brand.

This was when the innovation in the company started.

In 1979, she released a set of backpacks and totes made of a military spec black nylon.

Then, a nylon tote was released, turning into the brand’s second hit under Miuccia’s managing.

To this date, Prada offers a large variety of items like shoes, handbags, shirts, pants, jewelry, accessories, fragrances, totes, clutches, and the truth is that we can keep going for a while.

But now that we have some of the merchandise in the picture, how much does it cost to buy ANY of them?

Like any luxury brand, you cannot expect it to be cheap or even affordable.

Luxury is a synonym of expensive, and that is what you should expect.

Therefore, when we go over some of the prices (which will be on average), don’t get too surprised in the process:

  • Bags can cost around $1.700 regardless of the specific design.
  • Shoes for women range from $600 to $2.000 (some can be more expensive).
  • Clothing for both men and women costs about $2.000. A jacket, for example, is around $3.000, while a pair of pants can reach the $4k mark.

Accessories like hats, glasses, earrings, and belts can cost between $350 and $850.

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Is Prada A Money-Maker?

With those prices, you bet!

Let’s face something, luxury fashion brands are there for those that can truly afford them, so there’s no point in thinking that not many people can buy the merchandise.

After all, many wealthy people would love to spend even $1 million in Prada only, and we even feel we’re falling a bit short.

This isn’t money we have, but it isn’t crazy to think, assume, and notice that this is true.

Then, where does this leave us? Is it really a lot of money?

By the time Miuccia inherited the company in 1978, the brand’s sales were up to $450K.

However, to this date and according to Forbes, Prada manages numbers like $3.9 billion in revenue, $5.1 billion in assets, and $364.7 million in profits.

It has also been named and ranked as one of the world’s most valuable brands.

Despite falling a bit behind with brands like Louis Vuitton and Gucci, you can notice a significant increase considering that its major success is relatively recent thanks to the current business manager and head designer, Patrizio and Miuccia, who are a couple.

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Making It More Famous: Celebrities x Prada

It isn’t weird to know a few celebrities who work with brands, either by wearing their merchandise or getting paid for direct advertising and endorsement.

In the case of Prada, this follows the exact mechanism, and it has helped the brand quite a lot over the last few decades in order to expand its domain.

Thanks to this, there’s no one who doesn’t know what Prada is, and even when less than 50% know its history, over 70% wishes to have at least one of its products, which is usually influenced by the celebrities wearing them.

That being said, some of the most famous ones that either wear Prada due to their love for the brand, are directly sponsored, or maybe endorsed, are Cameron Diaz, Claire Danes, and Eva Mendes.

However, others like Nicole Kidman, Regina King, Winnie Harlow, Joaquin Phoenix, Kate Beckinsale, Kim Kardashian, and Paris Hilton can be included.

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Written by Dame Cash

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