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Authors:
Published by:
Amity Research Centers (2013)
Length:
13 pages
Data source:
Published sources
Abstract:
Prada Group, one of the leading companies in the luxury goods sector was mainly involved in the design, production and distribution of luxury handbags, leather goods, footwear, ready-to-wear apparel, accessories, eyewear and fragrances. The Prada Group had a highly successful business model and focussed on sophisticated workmanship and intricate handcrafted goods. The Prada Group owned famous international brands like Prada, Miu Miu, Car Shoe and Church’s. Prada was among the top end luxury brands, which sold totes at around €1000 apiece. The market trends in the international luxury label market were changing. Consumers preferred high end products with exclusive names and extravagant price tags. Prada also entered into the China Market and was listed on the Hong Kong Stock Exchange. Prada witnessed remarkable sales of about 41% in the Asia Pacific region. Meanwhile, analysts had underlined the risks faced by certain luxury goods houses in Asia, as consumers were becoming more discriminating in their choice of brands. Would Prada be able to continue its growth in the fast growing competitive markets and enhance its position remained to be seen.
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