Prada - Brand

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Prada, founded in 1913 by Fratelli Prada and Mario Prada is an Italian fashion label specializing in luxury goods for men and women. The shop was purveyor of leathergoods as well as imported English steamer trunks and handbags. Mario Prada did not believe in female interaction within business and did not allow female family members to enter his workshop. However, after his death in the mid-1950s, Mario's son harbored no interest in the business and Mario's daughter-in-law took the helm of Prada, maintaining it for almost twenty years. Her daughter Miuccia Prada, joined the company in 1970, and in 1977, she met Patrizio Bertelli—an Italian who had begun his own leathergoods business at the age of 17 who also joined the company. Miuccia followed much of Patrizio’s advice towards the betterment of the company as he suggested they discontinue importing English goods and begin reinterpreting old-fashioned luggage styles. In 1978 Miuccia inherited the company as Bertelli acted as manager. This allowed Muiccis to work creatively for the company and she released her first set of backpacks and totes in 1979. Then Miuccia and Bertelli sought out wholesale accounts for the bags in upscale department stores and boutiques worldwide. In 1983, Prada opened a second boutique in Milan in the historic and upscale shopping district of Galleria Vittorio Emanuele II. 1984 proved to be a successful year as Prada released its nylon tote and a shoe line, along with the expansion of the company as a whole with it’s opening of several locations in prominent shopping districts such as Florence, Paris, Madrid, and New York City. In 1985, Muicca released the classic Prada handbag which became an overnight sensation. In 1987, Miuccia and Bertelli married and in 1989 Prada launched its women's ready-to-wear collection as the designs came to be known for their dropped waistlines and narrow belts. Prada's popularity skyrocketed when the fashion world took notice of its clean lines, opulent fabrics, and basic colors, making it one of the most influential fashion houses, and a premium status symbol of the 1990s. The signature Prada look encompassed luxurious fabrics in mostly black, browns, grays, greens, and creams to create simple, yet provocative styles. In 1990 Partrizio di Marco took charge of the growing business in the United States after working for the house in Asia. He successfully had Prada bags prominently displayed in department stores, so that they could become a hit with fashion editors. In 1992, the clothing brand Miu Miu was launched. It was named after Miuccia's nickname, and catered to a younger consumer base. By 1993 Prada was awarded the Council of Fashion Designers of America Award for accessories. Soon after, the men's ready-to-wear collection was launched. The House of Prada operates in 40 locations worldwide, 20 of which are in Japan. The company owns eight factories and subcontracts work from 84 other manufacturers in Italy. Miuccia's Prada and Bertelli company were merged to create Prapar B.V. in 1996. However, the name was later changed to Prada B.V. and Patrizio Bertelli was named Chief Executive Officer of the Prada luxury company. In 1997 another store in Milan opened and in 1998, the first Prada menswear boutique opened in Los Angeles. Prada was determined to hold a leading portfolio of luxury brands, like the Gucci group and LVMH. Prada purchased 51% of Helmut Lang's company based in New York for $40 million in March 1999, which was worth about $100 million. Months later, Prada paid $105 million to have full control of Jil Sander A.G., a German-based company with annual revenue of $100 million. Church & Company, an English shoes maker, also came under the control of Prada, when Prada bought 83% of the company at $170 million. A joint venture between Prada and the De Rigo group was also formed that year to produce Prada eyewear.In October 1999, Prada joined forces with LVMH and beat Gucci to buy a 51% stake in the Rome-based Fendi S.p.A. Prada's share of the purchase (25.5%) was worth $241.5 million out of the reported $520 million total paid by both Prada and LVMH. Theses financial acquisitions elevated Prada to the top of the luxury goods market in Europe. The company's merger and purchasing sprees slowed down in the 2000s. However, the company signed a loose agreement with Azzedine Alaia and skin care products were introduced in the United States in October 2000. By 2006, the Helmut Lang, Amy Fairclough, and Jil Sander labels were sold. Jil Sander was sold to the private equity firm Change Capital Partners, which was headed by Luc Vandevelde, the chairman of Carrefour, while the Helmut Lang label is now owned by Japanese fashion company Link Theory. Prada is known for the practice of casting new models to exclusively participate in and open their runway shows. An exclusive or opening spot in a Prada show is among the most coveted bookings in the modeling world because it usually leads to greater success in future seasons. Previous Prada exclusives and openers who have gone on to enjoy success in the fashion world include Daria Werbowy, Gemma Ward, Suvi Koponen and Sasha Pivovarova, who went on to appear in Prada's ad campaigns for six consecutive seasons after opening the Prada fall 2005 runway show. Prada has commissioned architects, most notably Rem Koolhaas and Herzog & de Meuron, to design flagship stores in various locations. Prada has also commissioned an unusual multi-purpose building called the Prada Transformer in Seoul. It is this constant growth and need for creativity that has kept Prada in the fashion world for so long.

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Parent Company	Prada Spa Group
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Headquarters	Antonio Fogazzaro Milan, 28 20135 IT

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Prada Spa Group	Owned & Operated

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