History
Prada was founded in 1913 in Milan by Mario Prada as an exclusive leather goods shop in the Galleria Vittorio Emanuele II . Under Mario’s granddaughter Miuccia (who joined the family business in 1978), the brand reinvented itself: Miuccia introduced innovative materials (famously a black nylon backpack in 1984) and new business models . Key milestones include the 1993 launch of men’s fashion and the youthful Miu Miu line (with the foundation of Fondazione Prada in the same year) , expansion into luxury eyewear (licensed to Luxottica) and fragrances (with Puig) in the early 2000s , and high-profile acquisitions (Church’s shoes in 1999 and Car Shoe loafers in 2001) . Prada introduced concept “Epicenter” boutiques in New York (2001) and Tokyo (2003), and in 2011 became the first Italian fashion company listed on the Hong Kong Stock Exchange . In recent years Miuccia Prada and Patrizio Bertelli have invested in vertical integration and sustainability (publishing a social responsibility report in 2013 and a formal Sustainability Policy in 2017 ). Creative co-director Raf Simons joined in 2020 . Prada’s brand continues to evolve, most recently in 2025 announcing a €1.3 billion acquisition of Versace (EU-approved Sept 2025) . Throughout its century-long history Prada has balanced heritage craftsmanship (26 in-house factories as of 2024 ) with avant-garde design.
Latest Collections
Prada’s runway collections (for both women’s and men’s lines) have emphasized bold contrasts, hybrid silhouettes and technical craftsmanship. For example, the Women’s Spring/Summer 2024 show (Sept 2023) featured a “lightness” theme – floaty fabrics and ballooned sleeves set against cinched belts – invoking 1920s motifs and playful asymmetry . The Women’s Fall/Winter 2024 collection (Feb 2024) was dubbed “Instinctive Romance”, mixing historical references (biker/jumper/knitwear silhouettes) with layered deconstruction, suspended handbags and extreme proportions . Men’s Spring/Summer 2024 (Jan 2024 in Milan) combined broad-shouldered tailoring and wide-leg trousers with whimsical elements like fringed floral shirts and faux-fur gilets . In general, Prada’s lines have played on opposites (e.g. strength vs. delicacy, masculine fabrics in feminine cuts) and creative hybridity. Prada’s Spring 2025 women’s show notably embraced an intentionally eclectic, “main character” approach blending sportswear, cowboy and sci-fi motifs – encouraging individual creative expression . Prada also continues high-profile collaborations: for instance, the Prada×Adidas “Re-Nylon” partnership released a 21-piece sustainable sportswear capsule in 2023 , combining the houses’ logos on recycled-nylon sneakers, hats and bags.
Financial Performance
Prada Group’s financial results have shown consistent growth in recent years. For FY2024 (ended Dec 31, 2024), the Group reported net revenues €5.4 billion (up 17% year-on-year) and net income €839 million (up 25% YoY) , reflecting record sales and expanding margins (EBIT ~23.6%). Retail sales (full-price) reached €4.8 billion (+18% YoY) . Across brands, Miu Miu led growth (retail sales +93% in 2024, according to Prada) while the Prada brand also grew double-digits in Asia and Europe. By H1 2025 (6 months to June), Group revenue was €2.74 billion (+9% YoY) . (Prada noted a slight mid-single-digit decline in Prada-brand sales in H1 2025, offset by strong Miu Miu gains .) These figures place Prada among the top global fashion houses (though still smaller than giants like LVMH or Kering). The company maintains high profitability (gross margin ~80%) and a healthy balance sheet (≈€600 m net cash at end-2024 ).
Business Strategy
Prada’s business model emphasizes direct control and brand integrity. The Group is vertically integrated (owning 26 factories and ~15,200 employees as of 2024) and distributes primarily through its own retail network and e-commerce . At end-2024 there were 609 directly-operated stores worldwide (see table below) . Prada also licenses key product categories (e.g. eyewear licensed to Luxottica, fragrances to Puig since 2003 ) to extend its reach. It invests heavily in its supply chain and retail experience – for example, €493 million was invested in 2024 to upgrade stores and factories.
In marketing and digital strategy, Prada has leaned into innovative initiatives. In 2023 it launched “Prada Mode” events (immersive fashion/art film programs) in Seoul and elsewhere, combining cinema, music and gastronomy to engage younger audiences . It has also experimented with NFTs and virtual projects (such as Prada Timecapsule digital collectibles) and robust omni-channel retail (integrated online/offline shopping, partnerships with luxury e-tailers). The Group remains focused on the “product and client experience” (per CEO Patrizio Bertelli) , blending technical craft with cultural narrative.
Sustainability is now core to Prada’s strategy. Prada was an early mover in luxury sustainability: it launched its Re-Nylon program in 2019 to upcycle nylon waste into new products . Its “Sea Beyond” partnership (with UNESCO and the Italian IOC) dedicates 1% of a special Re-Nylon collection’s proceeds to ocean literacy . The company has an ESG board committee (established 2022 ) and has published sustainability reports since 2013 . Overall, Prada’s strategy balances luxury exclusivity with selective innovation (in digital and materials) and a growing commitment to environmental and social goals.
Store Locations
Prada Group sells its brands in over 70 countries via a mix of mono-brand boutiques and online channels . As of end-2024, the Group operated 609 directly-operated stores (DOS) worldwide . These include flagship boutiques in fashion capitals (Milan’s historic Galleria store , New York Fifth Avenue, Paris Avenue Montaigne, London’s Bond Street, Tokyo Ginza, etc.). Major recent openings include a new 5,000 sq ft Prada boutique in Los Angeles (Westfield Topanga mall) opened in Oct 2025 , and in 2024 a dedicated Prada menswear store opened on Fifth Avenue next to the New York flagship. The table below summarizes the store count by brand (Dec 2024):
| Brand | Owned DOS | Franchises | Total |
| Prada | 425 | 17 | 442 |
| Miu Miu | 147 | 6 | 153 |
| Church’s | 28 | 0 | 28 |
| Car Shoe | 2 | 0 | 2 |
| Marchesi 1824 | 7 | 0 | 7 |
| Total | 609 | 23 | 632 |
(Source: Prada Group, Dec 31, 2024 .)
Cultural Influence
Prada has a prominent place in popular culture, fashion and the arts. The brand’s very name evokes the high-fashion world – for example, the hit 2006 film The Devil Wears Prada (though a novel about a fictional magazine) cemented Prada’s image as the ultimate luxury label (its quotable lines like “Florals? For spring? Groundbreaking.” remain famous ). Miuccia Prada herself has been the subject of major museum shows (e.g. “Schiaparelli & Prada: Impossible Conversations” at the Met in 2012 ). Prada routinely enlists cultural icons as brand ambassadors: the Fall/Winter 2023 advertising campaign, titled “In Conversation With a Flower,” featured stars like Letitia Wright as its “cinematic idols” . In 2025 Prada co-created a short film with director Yorgos Lanthimos starring Scarlett Johansson . The house also appears in music and celebrity spheres – for instance, Beyoncé and Rihanna have worn custom Prada on tour and red carpets – reinforcing its glamour reach. Overall, Prada’s design and branding are deeply woven into modern culture: from red-carpet gowns to art installations (like the famous Prada Marfa sculpture in Texas) and virtual experiences (Prada art and film events), the label maintains a high profile in media and celebrity circles .
Sources: Prada’s official site, fashion press, and business publications (see citations). Each fact above is drawn from recent reports and Prada Group releases , ensuring up-to-date and accurate information.