With its latest store in Japan, PRADA reaches record number of new openings
With the opening of its latest mono-brand store in Japan, last week, within the Matsuzakaya Mall in the city of Nagoya, Italian luxury house of PRADA reached a record of 20 new directly operated stores in 2 months (under the PRADA brand), becoming not only the fastest growing luxury brand worlwide but also surpassing expansion rate by rival Louis Vuitton in 2007.
Prada IPO listing on the Hong Kong Stock Exhange last summer has brought the much needed cash for its international expansion, the business model chosen being of directly operated stores, the same strategic approach of rival Louis Vuitton.
The departure of PRADA Group’s COO Sebastian Suhl last month, does not seem to have deterred in any way Prada’s plans which are mastered by Prada co-owner and CEO Patrizio Bertelli and Deputy Chairman Carlo Mazzi.
Among the most notable recent openings of PRADA directly operated stores worldwide: Paris, Houston, Atlanta, New Jersey, Scottsdale, Moscow (2 stores), Kiev, Bangkok, Sao Paolo, Padova, Palermo and China (2 stores).