Editing Prada (section)

==History==

===Founding===
[[File:1935-45 Prada handbag, tooled and gilded leather 01.jpg|thumb|Tooled leather handbag made by Prada, 1935&ndash;1945 ([[RISD Museum]])]]
The company started in 1913 by Mario Prada and his brother Martino as ''Fratelli Prada'', a leather goods shop in Milan.<ref name="lifeinitaly">{{cite web |first=Carrie |last=Grosvenor |title=The History of Prada |url=http://www.lifeinitaly.com/fashion/prada.asp |publisher=Life in Italy |access-date=June 2, 2008 |url-status=live |archive-url=https://web.archive.org/web/20080521163002/http://www.lifeinitaly.com/fashion/prada.asp |archive-date=May 21, 2008 |df=mdy-all}}</ref><ref name="pradagroup">{{cite web |title=Prada Group |url=http://www.pradagroup.com/en.html |publisher=Prada Group |access-date=April 10, 2011 |url-status=live |archive-url=https://web.archive.org/web/20110420033420/http://www.pradagroup.com/en.html |archive-date=April 20, 2011 |df=mdy-all}}</ref> Initially, the shop sold animal goods, imported English steamer trunks, handbags. Alongside these handcrafted leather goods, Prada also sold travel accessories,<ref>{{Cite web |title=How Mario Prada Built an Empire in the Fashion Industry |url=https://dsfantiquejewelry.com/blogs/journal/in-lucru-how-mario-prada-built-an-empire-in-the-fashion-industry |access-date=2024-11-10 |website=DSF Antique Jewelry |language=en}}</ref> as well as beauty cases, jewelry, luxury items, and rare objects.<ref>{{Cite book |url=https://archive.org/details/bwb_P8-DED-667 |title=Prada |date=2009 |publisher=Milan : Progetto Prada Arte |others=Internet Archive |isbn=978-88-87029-44-4}}</ref> 

Mario Prada opens an exclusive store in Milan’s prestigious Galleria Vittorio Emanuele II that sells leather bags, trunks, beauty cases, jewels, luxury accessories, and rare objects.

Mario Prada did not believe women should have a role in business, so he prevented female family members from entering his company. Ironically, Mario's son had no interest in the business,<ref name="elle.com">{{cite web |url= https://www.elle.com/it/moda/ultime-notizie/a45650536/miuccia-prada-ambrogino-oro-2023/|title=Miuccia Prada tra i candidati a ricevere l’Ambrogino d’oro 2023|language=Italian|access-date=April 15, 2024}}</ref> so it was Mario's daughter Luisa who succeeded Mario and ran Prada for almost twenty years. Luisa's daughter, [[Miuccia Prada]], joined the company in 1970, eventually taking over from Luisa in 1978.<ref name="britannica">{{cite web|title=Miuccia Prada |url=https://www.britannica.com/biography/Miuccia-Prada|publisher=Life in Italy|access-date=April 15, 2024}}</ref>

Miuccia began making waterproof backpacks out of ''Pocono'', a [[nylon]] fabric.<ref name="lifeinitaly"/> She met Patrizio Bertelli in 1977, an Italian who had begun his own leather goods business at the age of 24, and he joined the company soon after. He advised Miuccia on company business, which she followed.<ref name="britannica"/> It was his advice to discontinue importing English goods and to change the existing luggage.<ref>{{Cite web |last=Sia |first=Mimi |date=2023-07-18 |title=Fashion Quote Miuccia Prada Fashion Quotemiuccia Prada |url=https://internationalappareljournal.com/fashion-quote-miuccia-prada/ |access-date=2025-05-07 |website=International Apparel Journal |language=en-US}}</ref>

===Development===
Miuccia inherited the company in 1978 by which time sales were up to U.S. $450,000. With Bertelli alongside her as business manager, Miuccia was allowed time to implement her creativity in the company's designs.<ref name="lifeinitaly"/> She would go on to incorporate her ideas into the house of Prada that would change it.<ref name="lifeinitaly"/>
She released her first set of backpacks and totes in 1979. They were made out of a tough military spec black nylon that her grandfather had used as coverings for 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.<ref name="britannica"/>
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 the centre of the Galleria Vittorio Emanuele in Milan's shopping heart, on the site of the previous historic "London House" emporium run by Felice Bellini from 1870 to the 1960s, reminiscent of the original shop, but with a sleek and modern contrast to it.{{Cn|date=September 2023}}
The next big release was a nylon tote. That same year, the house of Prada began expansion across continental Europe and the United States by opening locations in prominent shopping districts within [[Florence, Italy|Florence]], Paris, [[Madrid]], and New York City. A shoe line was also released in 1984. In 1985 Miuccia released the "classic Prada handbag" that became an overnight sensation. Although practical and sturdy, its sleek lines and craftsmanship had a luxury that has become the Prada signature.<ref name="max.gruppoeditori.it">{{cite web |url= https://max.gruppoeditori.it/article-p2293-prada-origini-e-storia-di-una-maison-emblematica.html|title=Prada: origini e storia di una maison emblematica|language=Italian|access-date=April 16, 2024}}</ref>

In 1987, Miuccia and Bertelli married. Prada launched its women's ready-to-wear collection in 1988, and the designs came to be known for their dropped waistlines and narrow belts. Prada's popularity increased when the fashion world took notice of its clean lines, opulent fabrics, and basic colors.<ref name="britannica"/>

The logo for the label was not as obvious a design element as those on bags from other prominent luxury brands such as [[Louis Vuitton]]. It tried to market its lack of prestigious appeal, including of its apparel, by projecting an image of "anti-status" or "inverse snobbery".{{Cn|date=September 2023}}

===1990s===
{{See also|Miu Miu}}
Prada's originality made it one of the most influential fashion houses,<ref name="lifeinitaly"/> and the brand became a premium status symbol in the 1990s.

Sales were reported at L 70&nbsp;billion, or US$31.7&nbsp;million, in 1998.{{citation needed|date=December 2017}} Patrizio di Marco took charge of the growing business in the United States after working for the house in Asia. He was successful in having the Prada bags prominently displayed in department stores, so that they could become a hit with fashion editors. Prada's continued success was attributed to its "working-class" theme which, [[Ginia Bellafante]] at ''The New York Times Magazine'' proclaimed, "was becoming chic in the high-tech, IPO-driven early 1990s." Furthermore, now husband and wife, Miuccia and Bertelli led the Prada label on a cautious expansion, making products hard to come by.

In 1992, the [[high fashion]] brand [[Miu Miu]], named after Miuccia's nickname, launched. Miu Miu catered to younger consumers and celebrities. By 1993 Prada was awarded the [[Council of Fashion Designers of America]] (CFDA) award for accessories.<ref name="lifeinitaly"/>
[[File:Prada - Store (51395501261).jpg|alt=|thumb|Prada boutique at [[Fifth Avenue]], Manhattan]]

The first ready-to-wear menswear collection was Spring/Summer 1998.<ref name="auto1">{{cite web|url=https://www.prada.com/ww/en/pradasphere/fashion-shows/1998/ss-menswear.html|title=SS 1998 Menswear|access-date=2023-08-14}}</ref> By 1994, sales were at US$210&nbsp;million, with clothing sales accounting for 20% (expected to double in 1995). Prada won another award from the CFDA, in 1995 as a "designer of the year" 1996 witnessed the opening of the 18,000&nbsp;ft² Prada boutique in [[Manhattan]], New York, the largest in the chain at the time. By now the House of Prada operated in 40 locations worldwide, 20 of which were in Japan. The company owned eight factories and subcontracted work from 84 other manufacturers in Italy. Prada's and Bertelli's respective businesses were merged to create Prapar B.V. in 1996. The name, however, was later changed to Prada B.V., and Patrizio Bertelli was named Chief Executive Officer of the Prada luxury company.

1996 can also be seen as marking an important turning point in Prada's aesthetics, one that fueled the brand's worldwide reputation. Journalists praised Miuccia's development of an “ugly chic” style, which initially confused customers by offering blatantly unsexy outfits which then revealed to offer daring and original takes on the relationship between fashion and desire.<ref>{{Cite journal |last=Lugli |first=Emanuele |date=2019 |title=Prada, Ugliness, and Birds |url=https://www.academia.edu/39359400 |journal=Animalia Fashion, ed. By Patricia Lurati |language=en |pages=137–141}}</ref> Since then Prada has been regarded as one of the most intelligent and conceptual designers.

In 1997, Prada posted revenue of US$674&nbsp;million. Another store in Milan opened that same year. According to ''[[The Wall Street Journal]]'', Bertelli smashed the windows of the store a day before the opening, after he had become deeply unsatisfied with the set-up. Bertelli also acquired shares in the [[Gucci group]], and later blamed Gucci for "aping his wife's designs." In June 1998, Bertelli gained 9.5% [[return on investment]] at US$260&nbsp;million.<ref>{{Cite book |title=The House of Gucci : a Sensational Story of Murder, Madness, Glamour, and Greed |last=Forden, Sara G. |date=2012 |publisher=HarperCollins |isbn=9780062222671 |oclc=841311813}}</ref> Analysts began to speculate that he was attempting a take over of the Gucci group. The proposition seemed unlikely, however, because Prada was at the time still a small company and was in debt. ''Funding Universe'' states that "At the very least, Prada had a voice as one of Gucci's largest shareholders (a 10 percent holding would be required for the right to request a seat on the board) and would stand to profit tidily should anyone try to take over Gucci." However, Bertelli sold his shares to [[LVMH|Moët-Hennessy • Louis Vuitton]] chairman [[Bernard Arnault]] in January 1998 for a profit of US$140&nbsp;million. Arnault was in fact attempting a take over of Gucci. LVMH had been purchasing fashion companies for a while and already owned [[Christian Dior SA|Dior]], [[Givenchy]], and other luxury brands. Gucci, however, managed to fend him off by selling a 45% stake to industrialist [[François Pinault]], for US$3&nbsp;billion.<ref name="washingtonpost.com1">{{cite news|last=Givhan|first=Robin|date=December 4, 2000|title=Givenchy's Loss, Gucci's Gain|url= https://www.washingtonpost.com/archive/lifestyle/2000/12/05/givenchys-loss-guccis-gain/d4eef851-5af9-43f0-8f45-736b1cc59a4c/|work=[[The Washington Post]]|access-date=April 16, 2024}}</ref> In 1998, the first Prada menswear boutique opened in Los Angeles.

Prada was determined to hold a leading portfolio of luxury brands, like the Gucci group and LVMH. Prada purchased 51% of [[Helmut Lang (artist)|Helmut Lang]]'s company based in New York for US$40&nbsp;million in March 1999.<ref name="nssmag.com">{{cite web|url= https://www.nssmag.com/en/fashion/30628/prada-helmut-lang-italian-luxury-group|title=When Prada acquired Helmut Lang|date=September 7, 2022|access-date=April 15, 2024}}</ref> Lang's company was worth about US$100&nbsp;million. Months later, Prada paid US$105&nbsp;million to have full control of Jil Sander A.G., a German-based company with annual revenue of US$100&nbsp;million. The purchase gained Prada a foothold in Germany, and months later Jil Sander resigned as chairwoman of her namesake company. [[Church's|Church & Company]], an English shoemaker, also came under the control of Prada, when Prada bought 83% of the company for US$170&nbsp;million.<ref name="New York Times">{{cite news|last=Cowell|first=Alan|title=Prada in $170 Million Deal For Church, the Shoemaker|url=https://www.nytimes.com/1999/09/10/business/international-business-prada-in-170-million-deal-for-church-the-shoemaker.html|work=The New York Times|accessdate=April 15, 2024}}</ref> A joint venture between Prada and the De Rigo group was also formed that year to produce Prada eyewear. In October 1999, Prada joined with LVMH and beat Gucci to buy a 51% stake in the Rome-based [[Fendi|Fendi S.p.A]]. Prada's share of the purchase (25.5%) was worth US$241.5&nbsp;million out of the reported US$520&nbsp;million total paid by both Prada and LVMH.<ref name="nytimes.com">{{cite news|last=Menkes|first=Suzy|date=October 13, 1999|title=Prada and LVMH Join Forces to Buy Italian Fashion House Fendi|url= https://www.nytimes.com/1999/10/13/news/prada-and-lvmh-join-forces-to-buy-italian-fashion-house-fendi.html|work=The New York Times|access-date=April 15, 2024}}</ref><ref name="nytimes.com1">{{cite news|date=November 26, 2001|title=Prada Sells Stake in Fendi for $265 Million|url= https://www.nytimes.com/2001/11/26/business/prada-sells-stake-in-fendi-for-265-million.html|work=The New York Times|access-date=April 15, 2024}}</ref> Prada took on debts of Fendi, as the latter company was not doing well financially.

These acquisitions elevated Prada to the top of the luxury goods market in Europe. Revenue tripled from that of 1996, to L2&nbsp;trillion.{{citation needed|date=December 2017}} Despite apparent success, the company was still in debt.

===2000s===
[[File:Prada Pacific Place interior 2019.jpg|thumb|300px|Prada in Pacific Place, [[Hong Kong]]]]
[[File:Pair of shoes, silver leather wedges, Prada, Italy, 2005.jpg|thumb|Silver leather wedges by Prada, 2005. Collection of the [[Victoria and Albert Museum]]]]
The company's merger and purchasing sprees slowed in the 2000s. However, the company signed a loose agreement with [[Azzedine Alaia]]. Skincare products in unit doses were introduced in the United States, Japan, and Europe in 2000. A 30-day supply of cleansing lotion was marketed at the retail price of US$100. To help pay off debts of over US$850&nbsp; million, the company planned on listing 30% of the company on the Milan Stock Exchange in June 2001. However, the offering slowed down after a decline in spending on luxury goods in the United States and Japan. In 2001, under the pressure of his bankers, Bertelli sold all of Prada's 25.5% share in Fendi to LVMH. The sale raised only US$295&nbsp;million.

By 2006, the [[Helmut Lang (fashion brand)|Helmut Lang]], Amy Fairclough, Ghee, and [[Jil Sander]] labels were sold. Jil Sander was sold to the private equity firm Change Capital Partners, which was headed by Luc Vandevelde, the chairman of [[Carrefour]], while the Helmut Lang label is now owned by Japanese fashion company Link Theory. Prada is still recovering from the Fendi debt. More recently, a 45% stake of the Church & Company brand has been sold to Equinox.

The Prada Spring/Summer 2009 Ready-to-Wear fashion show, held on 23 September 2008 in [[Milan]], got infamous coverage because all the models on the catwalk were tottering<ref>{{cite news |url=https://www.nytimes.com/2008/09/23/style/23iht-rprada.4.16420173.html |title=Prada takes a tumble |first=Suzy |last=Menkes |newspaper=The New York Times |date=September 23, 2008 |access-date=April 28, 2018 |url-status=live |archive-url=https://web.archive.org/web/20180428165807/https://www.nytimes.com/2008/09/23/style/23iht-rprada.4.16420173.html |archive-date=April 28, 2018 |df=mdy-all}}</ref> – several of them stumbled,<ref>{{cite web |url=http://ekstrabladet.dk/migration_catalog/NICA/article3367586.ece/IMAGE_ALTERNATES/p900/803064m |title=Photo (High Quality) |website=ekstrabladet.dk |access-date=April 28, 2018 |url-status=live |archive-url=https://web.archive.org/web/20160225135556/http://ekstrabladet.dk/migration_catalog/NICA/article3367586.ece/IMAGE_ALTERNATES/p900/803064m |archive-date=February 25, 2016 |df=mdy-all}}</ref> while two models fell down in front of the photographers and had to be helped by spectators to get up.<ref>[http://1.imagebam.com/download/SE911CqB40szAugjNxOewQ/1434/14338491/ZUM0004231800F.jpg Model Katie Fogarty helped by spectators] {{webarchive |url=https://web.archive.org/web/20160225143235/http://1.imagebam.com/download/SE911CqB40szAugjNxOewQ/1434/14338491/ZUM0004231800F.jpg |date=February 25, 2016 }}</ref> They removed their shoes in order to continue their walk.<ref>{{cite web |url=http://img.cz.prg.cmestatic.com/media/images/600xX/Sep2008/415739.jpg?d41d |title=Model Katie Fogarty removing her high heels... |website=cmestatic.com |access-date=April 28, 2018 |url-status=dead |archive-url=https://web.archive.org/web/20160224023446/http://img.cz.prg.cmestatic.com/media/images/600xX/Sep2008/415739.jpg?d41d |archive-date=February 24, 2016 |df=mdy-all}}</ref><ref>{{Cite web|url=http://www.dezinfo.net/images1/image/guest/09.2008/prada/1001.jpg|archiveurl=https://web.archive.org/web/20160301045352/http://www.dezinfo.net/images1/image/guest/09.2008/prada/1001.jpg|url-status=dead|title=... then walking with the shoes in her hands.|archivedate=1 March 2016}}</ref> One more model ([[Sigrid Agren]]) even had to stop and go back during the finale walk as she couldn't manage walking in her high heels any longer.<ref>{{cite web |url=https://www.youtube.com/watch?v=Qp_b3-4eTbY#t=0m14s |title=Prada S/S 09 finale mishap |last=PiyoPiyoNaku |date=September 30, 2008 |access-date=April 28, 2018 |via=YouTube |url-status=live |archive-url=https://web.archive.org/web/20180428165807/https://www.youtube.com/watch?v=Qp_b3-4eTbY#t=0m14s |archive-date=April 28, 2018 |df=mdy-all}}</ref> Interviewed right after the show, one model declared: "I was having a panic attack, my hands were shaking. The heels were so high."<ref>{{cite web |url=https://nymag.com/thecut/2008/09/two_models_fall_many_more_stum.html# |title=Two Models Fall, Many Stumble at Prada |website=nymag.com |date=24 September 2008 |access-date=April 28, 2018 |url-status=live |archive-url=https://web.archive.org/web/20160301092948/http://nymag.com/thecut/2008/09/two_models_fall_many_more_stum.html |archive-date=March 1, 2016 |df=mdy-all}}</ref> The designer [[Miuccia Prada]], on her side, did not blame the height of the shoes, but the silk little socks inside, which were slippery and moved inside of the shoes, preventing the models' feet from having a correct grip on the sole.<ref>{{cite web |url=http://media.novinky.cz/152/141528-original-g86fu.jpg |title=Close-up photo of the little socks and shoes |website=novinky.cz |access-date=April 28, 2018 |url-status=live |archive-url=https://web.archive.org/web/20160308034048/http://media.novinky.cz/152/141528-original-g86fu.jpg |archive-date=March 8, 2016 |df=mdy-all}}</ref><ref>{{cite web |url=http://40.media.tumblr.com/tumblr_m7utko3sOq1qj10b5o1_1280.jpg |title=Model Yulia Kharlapanova losing her balance when her left sock slips out of the shoe |website=tumblr.com |access-date=April 28, 2018 |url-status=live |archive-url=http://archive.wikiwix.com/cache/20160219115716/http://40.media.tumblr.com/tumblr_m7utko3sOq1qj10b5o1_1280.jpg |archive-date=February 19, 2016 |df=mdy-all}}</ref> Miuccia Prada also assured that the shoes sold in stores would have a lower heel,<ref>{{cite web |url=http://fashion.telegraph.co.uk/news-features/TMG3365450/Prada-high-heel-disaster-enough-of-this-stiletto-tyranny.html |title=Prada high heel disaster: enough of this stiletto tyranny - Telegraph |website=fashion.telegraph.co.uk |access-date=April 28, 2018 |url-status=live |archive-url=https://web.archive.org/web/20160224022234/http://fashion.telegraph.co.uk/news-features/TMG3365450/Prada-high-heel-disaster-enough-of-this-stiletto-tyranny.html |archive-date=February 24, 2016 |df=mdy-all}}</ref> and that the little socks would be sewn into the shoes in order to prevent further slips. But many fashionistas rightly claimed that the socks, once sewn into the shoes, would be non-washable and would quickly stink and become grey.<ref>{{cite web |url=http://www.thesartorialist.com/photos/at-prada-milano-5/ |title=At Prada, Milano |website=thesartorialist.com |access-date=April 28, 2018 |url-status=dead |archive-url=https://web.archive.org/web/20180115135732/http://www.thesartorialist.com/photos/at-prada-milano-5/ |archive-date=January 15, 2018 |df=mdy-all}}</ref> Consequently, the shoes have never been commercially sold.

=== 2010s ===
According to ''[[Fortune (magazine)|Fortune]]'', Bertelli planned on increasing revenue of the company to US$5&nbsp;billion by 2010.

On 6 May 2011, [[Hong Kong Stock Exchange]] came under fire for approving Prada's IPO despite the [[Prada Gender Discrimination Case]]. Feminist NGOs and [[Hong Kong Legislative Council]] lawmaker [[Lee Cheuk-yan]] protested in front of the [[Hong Kong Stock Exchange]].<ref>{{cite web |url=https://www.theguardian.com/lifeandstyle/2011/may/06/prada-flotation-china-feminists |title=Prada's attempts to storm Chinese market hit by feminist protesters |author=Imogen Fox |work=the Guardian |date=6 May 2011 |access-date=September 29, 2014 |url-status=live |archive-url=https://web.archive.org/web/20150610232102/http://www.theguardian.com/lifeandstyle/2011/may/06/prada-flotation-china-feminists |archive-date=June 10, 2015 |df=mdy-all}}</ref><ref>{{cite web |url=http://www.wwd.com/fashion-news/fashion-scoops/hong-kong-feminists-bristle-at-prada-ipo-3599389 |title=Hong Kong Feminists Bristle at Prada IPO |work=WWD |date=3 May 2011 |access-date=September 29, 2014 |url-status=live |archive-url=https://web.archive.org/web/20140821201345/http://www.wwd.com/fashion-news/fashion-scoops/hong-kong-feminists-bristle-at-prada-ipo-3599389 |archive-date=August 21, 2014 |df=mdy-all}}</ref><ref>{{cite web |url=http://features.rr.com/photo/014xaic5sw1a7?q=Style.com |title=Photo from Getty Images - Hong Kong Legislative Council member Lee News, photos, topics, and quotes |access-date=2013-09-08 |url-status=dead |archive-url=https://web.archive.org/web/20131016074115/http://features.rr.com/photo/014xaic5sw1a7?q=Style.com |archive-date=October 16, 2013 |df=mdy-all}}</ref><ref>{{cite web |url=http://www.ft.com/cms/s/0/040a5954-9e00-11e0-958b-00144feabdc0.html#axzz2eGV7T8Nj |title=Prada strengthens on Hong Kong debut |work=Financial Times |access-date=September 29, 2014 |url-status=live |archive-url=https://web.archive.org/web/20111220132927/http://www.ft.com/cms/s/0/040a5954-9e00-11e0-958b-00144feabdc0.html#axzz2eGV7T8Nj |archive-date=December 20, 2011 |df=mdy-all}}</ref><ref>{{cite web |url=http://www.taipeitimes.com/News/biz/archives/2011/06/25/2003506614 |title=Prada Hong Kong debut lackluster |date=25 June 2011 |access-date=September 29, 2014 |url-status=live |archive-url=https://web.archive.org/web/20150610222154/http://www.taipeitimes.com/News/biz/archives/2011/06/25/2003506614 |archive-date=June 10, 2015 |df=mdy-all}}</ref><ref>{{cite web |url=https://www.chinapost.com.tw/business/asia/hong-kong/2011/06/24/307393/Womens-rights.htm |title=The China Post |website=The China Post |access-date=April 28, 2018 |url-status=live |archive-url=https://web.archive.org/web/20160509203412/http://www.chinapost.com.tw/business/asia/hong-kong/2011/06/24/307393/Womens-rights.htm |archive-date=May 9, 2016 |df=mdy-all}}</ref>

On 24 June 2011, the brand was listed on the [[Hong Kong Stock Exchange]] to raise $2.14&nbsp;billion, but failed to meet expectations reported by AAP on 17 June 2011<ref>{{cite web |url=http://finance.ninemsn.com.au/newsbusiness/aap/8262548/prada-hk-ipo-fails-to-meet-expectations |title=Prada HK IPO fails to meet expectations |work=finance |access-date=September 29, 2014 |url-status=dead |archive-url=https://web.archive.org/web/20150610204811/http://finance.ninemsn.com.au/newsbusiness/aap/8262548/prada-hk-ipo-fails-to-meet-expectations |archive-date=June 10, 2015 |df=mdy-all}}</ref> and Bloomberg.<ref>{{cite news |url=https://www.bloomberg.com/quote/1913:HK/chart |work=Bloomberg |title=Interactive Stock Chart for Prada SpA (1913) |url-status=live |archive-url=https://web.archive.org/web/20140514004526/http://www.bloomberg.com/quote/1913:HK/chart |archive-date=May 14, 2014 |df=mdy-all}}</ref>

In 2015, Prada's turnover was 3,551.7&nbsp;million euros, up 1 percent from 2014, while its gross operating profit fell 16.5 percent to 954.2&nbsp;million euros.<ref>{{cite web |url=https://fashionunited.uk/news/business/prada-earnings-take-a-30-percent-cut-in-2014/2015040116017 |first=Angela |last=Gonzalez-Rodriguez |date=April 1, 2015 |access-date=June 9, 2015 |work=[[FashionUnited]] |title=Prada earnings take a 30 percent cut in 2014 |url-status=live |archive-url=https://web.archive.org/web/20150610110030/https://fashionunited.uk/news/business/prada-earnings-take-a-30-percent-cut-in-2014/2015040116017 |archive-date=June 10, 2015 |df=mdy-all}}</ref>

In July 2016, Prada began selling its clothing online through Net-a-Porter and Mytheresa in response to changing consumer preferences and the need to reach a wider audience. This strategic move allowed Prada to tap into e-commerce expertise, reduce overhead costs, and adapt to the digital age while maintaining its luxury brand image..<ref>{{Cite web |url=https://www.telegraph.co.uk/fashion/shopping/prada-is-now-available-to-buy-online-heres-our-fantasy-shopping/ |title=Prada is now available to buy online. Here's our fantasy shopping edit |access-date=2016-07-19 |url-status=live |archive-url=https://web.archive.org/web/20160720065510/http://www.telegraph.co.uk/fashion/shopping/prada-is-now-available-to-buy-online-heres-our-fantasy-shopping/ |archive-date=July 20, 2016 |df=mdy-all}}</ref>

As of March 2018, Prada's sales turned positive after declining since 2014, and their stock jumped 14% at the news.<ref>{{Cite web |url=https://www.ft.com/content/c13d92e4-25f2-11e8-b27e-cc62a39d57a0 |archive-url=https://ghostarchive.org/archive/20221211/https://www.ft.com/content/c13d92e4-25f2-11e8-b27e-cc62a39d57a0 |archive-date=11 December 2022 |url-access=subscription |title=Prada shares soar on sale growth outlook |last=Sanderson |first=Rachel |date=2018-03-12 |website=Financial Times |language=en-GB |access-date=2018-05-23}}</ref>

Stating that Prada would be "(f)ocusing on innovative materials will allow the company to explore new boundaries of creative design while meeting the demand for ethical products," the company announced in 2019 that fur will be eliminated from the collection and all house brands as of 2020.<ref>Jacopo Prisco, "[https://www.cnn.com/style/article/prada-goes-fur-free-2020/index.html Prada to go fur-free in 2020]," CNN, 22 May 2019.</ref>

===2020s===
[[File:Prada window @ Galleria Vittorio Emanuele II @ Milan.jpg|thumb|alt=Prada window display at Galleria Vittorio Emanuele II in Milan, Italy|Prada window display at [[Galleria Vittorio Emanuele II]], [[Milan]]]]
In February 2020, Miuccia Prada and Patrizio Bertelli named the Belgian designer [[Raf Simons]] as co-creative director.<ref>{{cite web |last1=Friedman |first1=Vanessa |title=Raf Simons Becomes Co-Creative Director at Prada |url=https://www.nytimes.com/2020/02/23/style/fashion-prada-milan-fashion-week.html |website=The New York Times |date=23 February 2020}}</ref>

In August 2020, the fashion house announced it would no longer use [[kangaroo leather]] in its products.<ref>Sarah Maisey, "[https://www.thenational.ae/lifestyle/fashion/valentino-and-prada-to-halt-use-of-alpaca-wool-and-kangaroo-leather-1.1064620 Valentino and Prada to halt use of alpaca wool and kangaroo leather]," ''The National'' 17 August 2020.</ref> In 2020, fashion magazine ''[[Vanity Teen]]'' promoted its Prada Resort 21 campaign.<ref>[https://www.vanityteen.com/prada-resort-21/ PRADA resort 21] 03 November, 2020. ''Vanity Teen.''</ref>

January 2023 saw Prada announce [[Andrea Guerra (businessman)|Andrea Guerra]] as its next CEO; Guerra formerly was CEO of both [[Luxottica]] and [[Eataly]], and later the leader of [[LVMH]]'s hotel division. Guerra was onboarded to ease the transition between the Bertelli and his children, who are expected to inherit the company. One of Guerra's first moves was to look at dual listing Prada stock on both the Hong Kong Stock Exchange as well as on a European stock exchange, expected to be one in Milan.<ref>{{Cite web |last=Zargani |first=Luisa |date=2023-01-26 |title=Andrea Guerra Kicks Off New Prada Group Phase |url=https://wwd.com/business-news/human-resources/andrea-guerra-prada-group-ceo-1235500843/ |access-date=2023-07-06 |website=WWD |language=en-US}}</ref><ref>{{Cite news |date=2022-12-06 |title=Prada hires former Luxottica chief Andrea Guerra as new CEO |language=en |work=Reuters |url=https://www.reuters.com/business/prada-recommend-ex-luxottica-boss-guerra-new-ceo-2022-12-06/ |access-date=2023-09-05}}</ref>

=== Versace ===
[[File:Versace-3.svg|thumb|[[Versace]]]]
On April 10, 2025, Prada acquired [[Versace]] from [[Capri Holdings]] group for 1.25 billion euros.<ref>{{cite news |title=Prada conquista Versace, firmato l’accordo |url=https://www.ilsole24ore.com/art/prada-conquista-versace-firmato-l-accordo-AHhEv5D |access-date=10 April 2025 |agency=ilsole24ore.com |publisher=ilsole24ore.com |date=10 April 2025}}</ref>
With the acquisition of Versace, Prada begins to lay the foundations for the creation of a large Italian fashion group that can rival the French ones.<ref>{{cite news |title=Prada compra Versace per 1,25 miliardi di euro, ora l'accordo è ufficiale |url=https://www.milanofinanza.it/fashion/prada-compra-versace-per-1-25-miliardi-di-euro-ora-l-accordo-e-ufficiale-202504081836479104 |access-date=10 April 2025 |agency=milanofinanza.it |publisher=milanofinanza.it |date=10 April 2025}}</ref><ref>{{cite news |title=Prada acquista Versace per 1,25 miliardi |url=https://www.ilgiornale.it/news/aziende/prada-acquista-versace-125-miliardi-2464464.html |access-date=10 April 2025 |agency=ilgiornale.it/ |publisher=ilgiornale.it/ |date=10 April 2025}}</ref><ref>{{cite news |title=Prada compra Versace e nasce un colosso del lusso italiano, ma due terzi dei marchi storici di moda sono in mani straniere |url=https://www.tgcom24.mediaset.it/tgcomlab/focus/prada-compra-versace-e-nasce-un-colosso-del-lusso-italiano-ma-due-terzi-dei-marchi-storici-di-moda-sono-in-mani-straniere_96460626-202502k.shtml |access-date=11 April 2025 |agency=tgcom24.mediaset.it/ |publisher=tgcom24.mediaset.it/ |date=10 April 2025}}</ref> They were previously bought by Capri Holdings in 2018 for $2.15 billion. The new deal with Prada will also include Versace’s debt. Prada chairman Patrizio Bertelli said that the group plans to preserve Versace’s aesthetics and finds great potential in the brand. Donatella Versace has recently stepped down as creative director after nearly three decades and is now the brand’s chief ambassador. Dario Vitale has been appointed as Versace’s chief creative officer after her.<ref>{{Cite news |date=10 April 2025 |title=Prada to buy rival fashion brand Versace for $1.36bn |url=https://www.bbc.com/news/articles/cvgppr7g508o}}</ref>