Prada is a renowned Italian fashion brand that is known for its luxurious products. The company has been making headlines for years, thanks to its acquisition of various other brands.
One such acquisition was the purchase of Church’s, an English shoemaker that has a rich history. In this article, we will take a closer look at when Prada bought Church’s.
The Acquisition of Church’s by Prada
In 1999, Prada made headlines when it announced that it had acquired a majority stake in Church’s. The deal was worth around 170 million euros and was seen as a significant move for the Italian fashion brand.
A Brief History of Church’s
Church’s is an English footwear brand that was founded in 1873 by Thomas Church. The company quickly gained popularity thanks to its high-quality shoes, which were handcrafted using traditional methods.
Over the years, Church’s became known for its iconic styles such as the “Shannon” and “Consul” shoes. The brand also became synonymous with British style and elegance and was worn by many notable figures, including Winston Churchill.
The Benefits of the Acquisition
The acquisition of Church’s by Prada brought several benefits to both companies. For Prada, the purchase meant that it could expand its product offering and enter into the high-end footwear market.
For Church’s, the acquisition meant that it could tap into Prada’s resources and expertise in areas such as marketing and distribution. It also gave the English shoemaker access to new markets, particularly in Asia where Prada had a strong presence.
The Future of Church’s
Since being acquired by Prada, Church’s has continued to operate under its own name and has maintained its commitment to traditional craftsmanship. However, the brand has also undergone some changes over the years.
In 2011, for example, Church’s launched a women’s collection, marking the first time that the brand had expanded beyond men’s footwear. The following year, the brand opened its first store in China, further expanding its global reach.
Conclusion
In conclusion, Prada’s acquisition of Church’s in 1999 was a significant move for both companies. It allowed Prada to enter into the high-end footwear market and provided Church’s with access to new markets and resources. Today, Church’s continues to operate as a luxury shoemaker while maintaining its commitment to traditional craftsmanship.
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