The Italian luxury group is actively positioning itself for strategic acquisitions in the fashion industry. At a recent event in Umbria, statements by its senior executives revealed the group’s commitment to seizing opportunities for expansion and growth. Prada is also planning significant investments in its industrial facilities to strengthen its in-house capabilities.
Italian luxury group Prada remains resolutely on the lookout for acquisition opportunities, according to statements by Lorenzo Bertelli, Prada’s Marketing Director and son of the group’s founders.
Speaking at an event in Umbria, Lorenzo Bertelli said that “the Prada group is and will always be on the lookout for opportunities”, in response to a question about the group’s potential interest in acquiring Armani or other prestigious brands.
Prada also plans to invest substantially in its industrial facilities. CEO Andrea Guerra announced that the group would allocate between 70 and 80 million euros a year for this purpose. The aim is to strengthen the presence of in-house suppliers, who have become crucial to the Group.
However, this record amount does not include possible acquisitions. “With the aim of shortening its supply chain, Prada has also made a series of investments with suppliers in recent years,” he recalled.
New factory
On Tuesday, May 7, Prada opened a new factory dedicated to knitwear in Torgiano, near Perugia, illustrating its desire to consolidate its expertise and know-how. “We want to invest in Italy”, emphasized Andrea Guerra.
In recent years, the luxury House, which owes its successful internationalization to the couple formed by heiress Miuccia Prada and businessman Patrizio Bertelli, has made knitwear a key element in the success of its ready-to-wear collections for the Prada and Miu Miu houses.
The 9,000-square-meter factory has become a production hub for Prada and Miu Miu’s ready-to-wear collections, where items such as sweaters, knitted wool skirts and knitted tops are made.
Commitment to Made in Italy
To continue reading this article, subscribe or log in to your account
Discover our plans
- Every day, keep up to date with the latest business news from the world of luxury.
- Receive the essential luxury business news by email every week
- Access all our events
- The Luxury Journals and Luxus Magazine in print and digital versions
Subscribe for 1€
Become an active member of the community of luxury leaders.
Read also>PRADA REPORTS STRONG FIRST-QUARTER GROWTH
Featured photo : © Prada
