Prada: The Art of Contemporary Culture and Innovation - Interbrand (2024)

Prada has long been considered a fashion trailblazer, defying traditional norms and capturing the attention of the fashion world. Prada has successfully positioned itself as both a fashion powerhouse and a true cultural brand, interpreting the spirit of the times through its designs.

“Prada is first and foremost a cultural brand,” Lorenzo Bertelli, Marketing Director of Prada Group and Head of Corporate Social Responsibility, said, “and this is what differentiates it from other luxury players.”

In an era when consumers are constantly flooded with content, Prada stays relevant by creating high-quality products that enhance its audience’s experience while cultivating a distinct, cohesive and easily recognizable identity.

“In a ‘sea’ of content, quality often trumps quantity,” Bertelli said.

Renowned for its meticulous selection of premium materials sourced from the world’s finest suppliers, Prada ensures that each piece is exquisitely crafted, resulting in durable and long-lasting products. As a testament to its dedication, Prada Group has achieved remarkable net revenue growth, totaling at the 2023 HY results, €2,232 million, a +20% year-on-year, which underscores its focus on innovative creativity.

“Prada’s creative philosophy has always been to challenge the industry by reimagining classic designs through innovative new styles, materials and processes,” Bertelli said.

Miuccia Prada, head designer of Prada and founder of fashion icon Miu Miu, has left a mark on the fashion world with her talent for merging art and beauty to redefine style. A prime illustration of this is the timeless Prada Galleria bag, which has evolved while maintaining its cultural relevance.

Prada’s growth strategies extend beyond traditional fashion. In October 2022, the Group ventured into the world of fine jewelry with the launch of Prada Eternal Gold, a collection crafted entirely from 100% recycled gold. In May 2023, Prada collaborated with adidas to introduce adidas Football for Prada, merging a unique touch from Prada’s sophisticated brand identity with adidas’s high-performance football expertise. In August 2023, Prada expanded its portfolio by unveiling the Prada Beauty Makeup and Skincare lines. The most recent venture, announced in September 2023, involves a groundbreaking partnership with Axiom Space for NASA‘s lunar spacesuits, building on decades of experimentation, technological prowess and design expertise that trace back to the 1990s with Luna Rossa’s challenges in the America’s Cup.

“In today’s interconnected and rapidly evolving business landscape, partnerships are essential to achieve our common goals,” Bertelli said.

These alliances, whether through strategic collaborations, joint ventures or co-creation, have become instrumental in delivering long-term growth and competitiveness. Another example of this strategy is Prada Group’s partnership with Amazon, aimed at combating the global trade of fake products. The Group has also collaborated with Adobe and Oracle, which have significantly enriched the client experience by harnessing data collected pre- and post-purchase, in-store or online.

“This ensures we are able to engage and connect with each customer in the right place, at the right time, and with the right content,” Bertelli said.

Thanks to the deployment of Oracle Retail Xstore Point-of-Service, Prada Group can gather and store customer preferences and purchase habits in the Oracle Retail Customer Engagement Cloud Service, enabling more refined operational processes and improved responsiveness to market shifts.

“As a luxury brand, it is essential to foster meaningful and personalized interactions to ensure customers feel heard, valued and feel a strong affinity with the brand,” Bertelli said.

Through innovative event formats such as Prada Mode and Prada Frames, the brand seeks to immerse customers in the very essence of Prada’s DNA, maintaining a constant dialogue with its global audience.

Since Bertelli joined the company, there has been a significant boost in digital communication and sustainability. In 2021, Prada Group nominated a sustainability committee to ensure that future goals are met. Their approach is rooted in three pillars: planet, people and culture.

Prada Group’s environmental initiatives encompass carbon emission reduction, renewable energy investments, energy consumption reduction efforts, industrial heating system electrification and transitioning to a more sustainable vehicle fleet, with nearly 54% of its fleet now consisting of green vehicles. As a result of these concerted efforts, Prada exceeded their Science Based Targets initiative goal.

Circularity is another key focus involved in projects such as the Prada Re-Nylon, crafted entirely from regenerated nylon created through the recycling and purification of plastic collected from oceans and landfills, as well as textile fiber waste.

Education is also at the core of Prada Group’s mission. In 2019, it launched the Sea Beyond programme in collaboration with UNESCO’s Intergovernmental Oceanographic Commission to raise awareness about ocean preservation. To support urban reforestation, Prada Group has partnered with Forestami, which aims to plant 3 million trees in and around Milan by 2030. Together, they also launched the Forestami Academy, a three-year training programme for citizens with seminars, workshops and outdoor activities.

As Prada continues to redefine the fashion landscape as a cultural brand, it preserves quality, creativity and sustainability.

In Bertelli’s words, “High-quality, relevant and differentiated content is of paramount importance.”