Archive for the ‘Corporate’ Category

New Prada Store In Melbourne, Australia

Prada has opened a new store in the Chadstone Shopping Centre, in the wealthy suburbs of Melbourne, Australia.

The store was designed by architect, Roberto Baciocchi, and displays the characteristic elements of the brand’s global identity – the pastel green canvas lining the walls is paired with beige carpet for the flooring. The store spans over a single level covering a surface area of approximately 340 square metres, and houses the collections of ready-to-wear, bags, footwear and accessories for both men and women.

Prada 2009 Core Profit Rose 2.8 Percent

Prada has announced that its core profit rose 2.8 percent to 290 million euros (US$389.8 million) in 2009; it was boosted by a rise in more profitable retail sales, even as its wholesale business declined. Wholesale turnover to U.S. department stores fell, but Prada said also that its strategy of developing a direct distribution channel had paid off, with retail sales rising 14 percent in 2009.

Prada Opens Monobrand Store In Busan, Korea

Prada has opened a brand new monobrand store inside the prestigious Gwangbok department store in Busan, Korea.

Designed by architect, Roberto Baciocchi, the new space spans a single level covering a total surface area of approximately 220 square metres. It houses the Prada collections of bags, accessories and footwear for men and women.

The external facade was created out of black glass, and its elevation is characterized by two entrances interspersed between alternating display windows and light boxes.

The interior is articulated by a series of polygonal spaces in which the distinctive elements of Prada stores around the world are reiterated: walls upholstered in green canvas, display furniture enriched by smoky mirrored backdrops, curvilinear couches in lilac velvet for the women’s area; and rosewood and polished-steel furniture alongside wheat-coloured velvet seating in the men’s space.

Sumptuous glass and polished-steel display counters complete the design creating a unifying motif across the different environments. Check out the pics below.

Prada Coming To Singapore Changi Airport?

Prada Singapore is reportedly one of the high-end brands that’s in contention for six luxury retail spaces at Singapore Changi airport terminal. Prada Singapore is up against DFS Venture Singapore and Luxury Ventures.

Prada Singapore has proposed Miu Miu and Prada concepts. DFS Venture Singapore has reportedly proposed Burberry, Emporio Armani, Gucci, Hermès and Polo Ralph Lauren outlets. Luxury Ventures has reportedly proposed Bally and Coach concepts.

Investors Seek Minority Stake In Prada

A Prada company spokesman has said that they have been approached by potential investors who are seeking a minority stake in the Italian fashion house.

“The company received expressions of interest from different private-equity funds,” Prada spokesman Andrea Gaudenzi said in an interview. However, he also added that the fashion house has no interest in selling a stake. This official statement follows a report in Milano Finanza (an Italian financial daily) that said Prada was searching for an outside investor to take up to a 40% stake.

Like many family-owned fashion companies, it seems as though Prada’s finances have come under strain amid the worldwide downturn in luxury-goods sales. Thus, it comes as no surprise that investment funds could be using it as an opportunity to secure a foothold in the fashion business.

According to some reports, designer Muccia Prada and her husband, Chief Executive Patrizio Bertelli (who together own 95% of the company), have recently entered talks with Italian banks to extend payment on debt that is said to be weighing down the family holding company – Prada BV.

For years, Prada was reportedly been poised to raise funds through a listing on the Milan stock exchange, but the financial crisis has seemingly forced it to shelve those plans. Prada did open itself to outside investors in 2006. Back then, it sold a 5% stake to Italian bank Intesa Sanpaolo SpA.