Essay On Prada

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Marketing Strategies of Prada

Prada was founded in Milan in 1913, which offers leather bags, fragrances, eyewear, footwear, men’s and women’s clothing too. (Prada) Prada has many competitors like Gucci, Louis Vuitton, and Chanel. Prada is also trying new marketing strategies to stay in competition.

History of Prada: Mario Prada started the Prada luxury house in 1913 and produced handbags, steamer trunks and elegant suitcases for the elites of Milan.
Famed Fashion Designer Miuccia Prada entered her family business in 1978 and soon started making changes as the company was at to static state. Patrizio Bertelli her soon to be husband helped her in updating the merchandise with designs that was made by her. Prada gain popularity in 1985,
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It is now famous worldwide and is loved by all the elites around the world.

Competitors of PRADA
1. Chanel
2. Gucci
3. Louis Vuitton

PRADA VS Gucci, Chanel and Louis Vuitton

Strength of Prada:
• Prada produces luxurious designs.
• Has a premium touch to all its products.
• The brand is very famed around the world.
• 12000 people are working for the organization.
• Through shows and boutiques Prada is active in the market. (Analysis, 2008)

Weakness of Prada
• Increase in competition of luxury fashion, Prada’s business can be negatively affected.
• Profit Margins can be reduced by easily available replacement.
• As Prada is a global brand, it faces many market risk like economic conditions, recession etc.
• As Prada being a world famous brand it has many fake imitations in the market that affects its business and brand image.
• High brand switching is a very severe problem faced by Prada.

CHANEL Strength of Chanel
• Chanel is producer of ready to wear clothing.
• Chanel is very well known brand worldwide.
• Vintage and everlasting designs are the most important part of their collection
• The clothes are designed to offer comfortableness with the style of elegance. (Analysis,
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