WTI Magazine #10    2013 Dec, 20

Author : Annalisa Lospinuso for PoisonDrops.com      Translation by: Alessandra Bitetti

A prestigious award for one of the icons of Italian fashion, Miuccia Prada. The British Fashion Council gave to the Milanese designer-entrepreneur the award for International Designer of the Year, during the awards ceremony of the British Fashion Awards, which was held in London on December the 2nd. This praise was given by a beautiful Gwyneth Paltrow for being "one of the most influential international designers of 2013, who anticipates and dictates trends on the fashion global scene". 

A well-deserved award because, since 1913 - the year of the foundation of the brand by Mario Prada, the uncle of Miuccia - the company continually renewed and affirmed its leadership in the international fashion universe. Currently it achieved a strong presence in the major strategic places worldwide, with 491 directly operated stores, which generated revenues of € 14225 billion, an increase of 15.7 % y/y. In addition, the group has been enriched by other successful brand: besides of Prada and Miu Miu, there are also Church's and Car Shoe.

The company is one of the few that overcame the Italian economic crisis, closing the first six months of the year with a profit of € 308.2 million, an increase of 7.6% compared to last year. Revenues were € 1728.1 million (+11.7 %), EBITDA of € 551.1 million (+17.4 %), EBIT of € 458.3 million (+ 16.1%). It has an active financial position of € 195.6 million.

The secret of Prada seems to be a flexible management structure and a constant monitoring of the market, as explained by the CEO, Patrizio Bertelli, who said he was confident about the future.

But since this is a fashion company, the strength lies in the ability of his creative designer, with a pioneering vision of fashion that brought her to revolutionize the concept of elegance, as seen in the Prada spring summer collection 2014 presented in Milan and in the Miu Miu one, presented in Paris, where Miuccia defied all the cliches. Aided by a multi-faceted preparation for his studies in Political Science and interests in architecture and art, Maria Bianchi steered the company since the eighties to the present, making it beyond the boundaries of a simple fashion house and adding value to the brand with initiatives regarding sport (Luna Rossa), solidarity, and art (with Prada Foundation).

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