The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
MILAN, Italy — Prada SpA, the Italian fashion brand, will pay €66 million to a descendant of its namesake family to take control of four company stores in Milan — including its first-ever location that has operated since 1913.
The company, which is listed in Hong Kong, said it reached an agreement with Miuccia Prada Bianchi and a holding company she controls for the stores. The move "will be important step in further developing and extending the group's brand identity," according to a company statement.
Prada stock has fallen 6 percent so far this year, trailing the 3.6 percent return for the Hong Kong’s Hang Seng index. Prada Bianchi is co-chief executive officer of the Prada SpA.
The Milan stores have historically been operated by companies connected to the Prada family. The parent company reported €19.7 million of profit related to its franchise agreement for the Milan stores.
By Jonathan Roeder, Robert Williams; Editors: Anne Riley Moffat, Hari Govind
New Guards Group co-founders Davide De Giglio and Andrea Grilli are exiting the company, owner Farfetch announced Thursday.
The LVMH watchmaker has ‘reached milestones in brand transformation,’ said chief executive Frédéric Arnault in an exclusive interview with BoF.
Creative director Giovanna Engelbert has rolled out a colourful, more exuberant aesthetic and enlisted fashion heavy-hitters like Steven Meisel and Pat McGrath as the Austrian crystal-maker seeks to return to profitability by boosting its presence in fine jewellery.
Join us for a special Masterclass, as BoF’s luxury editor Robert Williams, along with a panel of experts, unpack our latest case study Inside Hermès’ Best-in-Class Leather Goods Strategy.