Is Prada Still Owned by the Family?

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Prada is one of the most prestigious and well-known luxury fashion brands in the world. The brand has been around for over a century and has become synonymous with high-end fashion and sophistication.

However, there has been some confusion surrounding whether Prada is still owned by the family or not. In this article, we will explore the ownership of Prada and clear up any misconceptions.

History of Prada

Prada was founded in Milan in 1913 by Mario Prada. Initially, the company sold leather goods such as trunks, handbags, and shoes. In the 1970s, Mario’s granddaughter Miuccia Prada took over the company and transformed it into a global fashion powerhouse.

The Ownership of Prada

Prada is still owned by the Prada family today. Miuccia Prada and her husband Patrizio Bertelli own 80% of the company through their holding company, Finanziaria di Partecipazioni Industriali (Fondazione). The remaining 20% is owned by Miuccia’s brother, Alberto Prada.

The Role of Patrizio Bertelli

Patrizio Bertelli has played a significant role in shaping the direction of Prada. He joined the company in 1978 as a sales manager and eventually became CEO in 1998. Bertelli is known for his business savvy and has been credited with expanding the brand’s product offerings and global reach.

Recent Developments

In May 2021, it was announced that Patrizio Bertelli would be stepping down as CEO of Prada after more than two decades at the helm. He will remain on as executive chairman while his son Lorenzo takes over as co-CEO alongside Miuccia Prada.

The Future of Prada

Despite the changes in leadership, Prada remains a family-owned company with a commitment to staying true to its heritage and values. The brand has weathered numerous economic downturns and fashion trends over the years and has continued to thrive. With Miuccia Prada and Patrizio Bertelli’s son at the helm, Prada is poised for continued success in the future.

Conclusion

In conclusion, Prada is still owned by the Prada family today. Miuccia Prada and Patrizio Bertelli have played instrumental roles in shaping the brand into what it is today, and their commitment to quality and innovation has allowed it to remain relevant for over a century. With new leadership on the horizon, we can expect to see continued growth and success from this iconic fashion brand.

3 Related Question Answers Found

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Prada is a brand that has been synonymous with luxury for decades. Founded in Milan in 1913 by Mario Prada, the company initially produced leather goods and luggage. However, it wasn’t until the 1980s when Miuccia Prada, Mario’s granddaughter, took over the business that Prada became a household name.

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Have you ever wondered if Prada, the luxury fashion brand, is publicly owned? Let’s dive into the company’s ownership structure to find out. Prada’s History Prada was founded in 1913 by Mario Prada as a leather goods shop in Milan, Italy.

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