Transformation plan delivering results
“2019 has been a year of strong progress. The combination of investment and operational initiatives implemented over the past few years are now clearly translating into brand heat and sales. We are sure that our commitment to guarantee outstanding quality standards as well as strengthening brand desirability has been the right choice to support profitable and sustainable long-term growth.
The start of 2020 has been very buoyant for the Prada Group; the Coronavirus outbreak has interrupted our growth trajectory. This is a huge and unprecedented event that will draw deeply on our sense of responsibility. Our full concern and support go to the people that are facing these tough times. The safety and the well-being of our colleagues as well as of our customers all over the world are of the greatest importance to us and we will do everything we can to help overcome this crisis together.
Although it is difficult to forecast the evolution of the epidemic, we are expecting a negative impact on this year’s results and we are implementing a comprehensive contingency plan to mitigate it, relying on our flexible supply chain and lean organization.
The soundness of our financial structure gives us the confidence to overcome this exceptional moment and to be ready to capture the recovery when it arises.”
March 18th, 2020 - Prada Group FY 2019 Press Release
One of key success factors of the Prada Group is the integrated management of the whole production, the direct control of the strategic phases - from the creation and development of the product, to orders, supply, main processes and distribution – and the ability to innovate in all stages.
This approach has allowed the Group to translate avant-garde concepts into innovative exclusive products, to rapidly initiate large industrial productions, distribute products in exclusive locations through a top-level service in order to effectively satisfying customers’ requests and maintaining strict control over quality standards.