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The granddaughter of the founder of the Italian fashion house, Miuccia Prada, sells Fratelli Prada, the company that manages the house’s stores in Milan, to the parent company.
By Luxus Plus
The Prada Group, wishing to unify its distribution and brand identity, acquired Fratelli Prada, in the hands of the Bellatrix Group and Muccia Prada, for 66 million euros.
Fratelli Prada previously managed the Galleria Vittorio Emanuele II stores, two stores via Montenapoleone and the point of sale via della Spiga. As part of its franchise agreement with Milanese establishments, the parent company generated a profit of €19.7 million.
Last May, the fashion house announced in particular that it was taking a step back with multi-brand to focus on its own stores because of the “complexity and fragmentation of the sector”.
Prada shares, listed in Hong Kong, have fallen by 6% since the beginning of the year. In 2018, the group’s income fell by 10% or €324 million, while turnover increased by 2.8% or €3,142 million.
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