Prada

Foundations

FoundationsThe company was begun as Fratelli Prada ( Prada Brothers steamer trunks and handbags. ) by Mario Prada in 1913 as a leathergoods shop in Milan, Italy.Not only was his shop a purveyor of leathergoods, but also sold imported English Fratelli Prada gained great reputation and came to create accounts with prominent Italian noblemen.



As a High Fashion Brand

Miuccia inherited the company in 1978 by which time sales were up to $400,000 USD. With Bertelli alongside her as business manager, Miuccia was allowed time to implement for total mind onto design. She would go on to incorporate her ideas into the House of Prada that would transform it into a label of renown. She released her first set of backbacks and totes in 1979. They were made out of a tough military spec black nylon that her grandfather had used as coverings for his steamer trunks. Initial success was not instant, as they were hard to sell due to the lack of advertising and high-prices, but the lines would go on to become her first commercial hit. Next, 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 Millan reminiscent to the original shop, but with a sleek and modern contrast to it. It was opened in the historic and upscale shopping district of Galleria Vittorio Emanuele II.


A New look on the 21'st Century


It suspended to merging and purchasing in 2000s, however, a loose agreement was signed in with Azzedine Alaia. Personal skin care products were introduced in the United States in October 2000 (a 30-day supply of cleansing lotion going for the retail price of $100 USD). To help pay of depts of over $850 million USD, the company planned on offering 30% of the company on the Milan Stock Exchange to the public on June 2001. However, the offering was slowed down after a decline in luxury goods spending in the United States and Japan. In 2001, under the pressure of his bankers, Bertelli also sold all of Prada's 25.5% share in Fendi to LVMH to help reduce Prada's debt. He raised only $295 million USD.


Runway shows

Prada, along with fellow fashion houses Calvin Klein and Gucci, is known for its practice of casting new models to walk exclusively in their runway shows. Usually, one of the models chosen as an exclusive will be selected to open the Prada show. An exclusive or opening spot in a Prada show is among the most coveted bookings in the modeling world, since it usually leads to greater success in future seasons, as well as in the campaign/editorial field. 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.