Prada is one of the most popular luxury fashion brands in the world. Known for its high-end clothing, accessories, and leather goods, Prada has been a symbol of style and sophistication since its inception.
However, there has been a lot of speculation surrounding the ownership of the brand. Many people believe that the Prada family owns Prada, but is this really true? Let’s take a closer look.
Who is Miuccia Prada?
Before we delve into the question of ownership, it’s important to know who Miuccia Prada is. Miuccia Prada is the granddaughter of Mario Prada, who founded the company back in 1913.
She joined the company in 1970 and took over as head designer in 1978. Since then, she has been instrumental in transforming the brand into what it is today.
The History of Prada
Prada was founded by Mario Prada as a leather goods store in Milan. Over time, it expanded to include other luxury items such as luggage and accessories. However, it wasn’t until Miuccia took over that the brand really started to take off.
Under Miuccia’s leadership, Prada began producing high-end clothing and accessories for both men and women. The brand quickly gained a reputation for its minimalist designs and use of high-quality materials.
Who Owns Prada?
So who actually owns Prada? Well, technically speaking, it’s not owned by the Prada family anymore. In 2011, Miuccia and her husband Patrizio Bertelli sold 20% of their stake in the company to Hong Kong-based conglomerate Chow Tai Fook Enterprises.
Today, Miuccia and Patrizio still own around 80% of the company through their investment vehicle Finanziaria de Agostini S.p.A. However, the remaining 20% is owned by Chow Tai Fook Enterprises.
What Does This Mean for Prada?
While the Prada family may not technically own the brand anymore, they are still heavily involved in its management. Miuccia serves as co-CEO alongside her husband Patrizio, and both are actively involved in the day-to-day operations of the company.
Overall, the fact that the Prada family doesn’t own 100% of the company doesn’t change much. The brand is still synonymous with luxury and style, and it’s clear that Miuccia and Patrizio are committed to maintaining its legacy for years to come.
Conclusion
In conclusion, while many people believe that the Prada family owns Prada, this isn’t entirely true. While they still own a majority stake in the company, a portion of it is owned by Chow Tai Fook Enterprises.
However, this doesn’t change much when it comes to the management and direction of the brand. Prada is still one of the most iconic luxury fashion brands in the world, and it’s clear that Miuccia and Patrizio are dedicated to keeping it that way.