In conducting its business, the Prada Group interacts with many stakeholders, all of which can influence or be influenced, directly or indirectly, by the achievement of business objectives.
For this reason the materiality analysis, consistent with the business strategy, is a functional tool to identify the most relevant sustainability aspects, not only for the Company, but also for all its main stakeholders, which can be either able to affect or being affected by the Prada Group's ability of creating shared value in the short, medium and long-term.
In terms of sustainability reporting, the topics deemed as material are those that have a significant impact on the ESG performance of the Company or that may substantially influence stakeholders’ perceptions and decisions. The Prada Group drawn up its analysis in according to the GRI (Global Reporting Initiative) Sustainability Reporting Standards and in line with the "ESG Reporting Guide" of the Hong Kong Stock Exchange.
From the latest materiality analysis - carried out through the mapping of the main Group’s stakeholders and the analysis of their instances, a benchmark analysis of companies operating in the fashion and luxury sector, a survey of the perception of public opinion and of the main trends in the sector on issues related to sustainability and a prioritization of material aspects by the Group’s apical functions - 22 material topics emerged.
Again, the most significant aspect proved to be product creativity and excellence, elements that accompany Prada’s activity along the entire value chain. Other topics identified were know-how preservation and skills development, attraction and retention of talents, responsible procurement, relationship with customers, trademark protection, respect of human and workers rights, occupational health and safety and, finally, climate change issues, reflecting the Group’s raising commitment toward environmental protection.
More information in the Prada Group’s Social Responsibility Report.