On December 7th, the Italian luxury brand Prada officially unveiled its major exhibition “Pradasphere II” at the START Xingmei Art Museum in Shanghai. Beyond fashion, this exhibition also encompasses Prada’s collaborations in art, architecture, culture, and sports, demonstrating Prada’s consistent pursuit of interaction with a diverse world.
In the latest Top 100 Interbrand 2023 Best Global Brands released in November, Prada, with a 12% increase in brand value, became the fastest-growing brand among the 10 listed luxury brands.
Interbrand commented, “Luxury companies are striving to transcend traditional markets and are expanding their brand influence through new partnerships, product launches, and consumer experiences in virtual universes, creating new meanings and values for new customers.”
Prada, through its persistent cross-disciplinary initiatives in art, culture, science, sports, and other fields, has been innovatively fuelling the consolidation and growth of its brand assets.
Luxe.CO’s fashion industry research institute, Luxe.CO Intelligence, has newly launched the annual luxury brand series report “Prada in 2023.”
This report, based on comprehensive and real-time public dynamic data of the brand covered by Tong.Luxe.CO, records 190 major activities of Prada from January 1 to December 22, 2023, in and outside China, involving retail stores, product innovation, supply chain, and public relations advertising (including brand exhibitions, pop-ups, cultural and artistic activities, sustainability activities, advertising, fashion shows, spokespersons, etc.) in four major aspects.
Based on these activities, we will outline the specific measures taken by this 110-year-old classic luxury brand in the past year to amplify brand presence and solidify brand value, hoping to provide industry insiders with practical references and inspiration for high-end brand building.
According to Prada Group’s official financial report, as of June 30, 2023, the Prada brand has 426 directly-operated stores and 22 franchised stores, an increase of 4 and 1 respectively compared to the end of December 2022. However, the official global store opening situation for the second half of 2023 has not yet been disclosed. As of December 22, 2023, Luxe.CO Intelligence tracked 18 store-related activities of the Prada brand in mainland China in 2023:
- 2 new fashion boutiques and 1 leather goods and accessories boutique
- 3 fashion boutiques re-opened after renovation
- 5 fragrance specialty stores opened
- 7 comprehensive fragrance and beauty stores newly opened
In August 2023, Prada officially expanded its new beauty line, including makeup and skincare. This marks Prada’s return to the beauty field after 15 years. Prada first collaborated with the Spanish cosmetics manufacturer Puig in 2003 to expand into the perfume business and chose not to renew the cooperation agreement in 2018. In 2019, Prada signed a new licensing agreement with L’Oréal Group, starting cooperation from January 2021. In 2022, L’Oréal Group helped Prada relaunch its beauty business, Prada Beauty.
Over the past year, Prada has continued to be actively engaged in the fields of art, culture, sports, and sustainability, implementing the “fundamental logic” described by the third-generation head of the Prada family, Miuccia Prada: “Prada’s fundamental logic is that we need to make culture and art more attractive. If we cannot produce attractive culture and art, no one will listen to us.”
As of December 20, 2023, Prada has held a total of 74 major offline events globally, including 39 pop-up events, 16 cultural and artistic activities, 8 sustainability activities, and 7 sports sponsorships, involving:
- Pop-ups: Prada Tropico tropical-themed pop-ups, Prada Reporter exhibition pop-ups, etc.
- Cultural and artistic activities: art exhibitions, art talks, movie-themed events, club/live performances, etc.
- Sports sponsorships: stunt flying, skiing, street skateboarding, canoeing, Chinese women’s football, etc.
The detailed contents of “Prada in 2023” are as follows:
About Luxe.CO Intelligence
Luxe.CO Intelligence has been deeply involved in the fashion and luxury sectors for a long time. Leveraging our continuously expanding industry network, data intelligence, and knowledge system, we are committed to providing professional, innovative, and forward-looking consulting services to brands and companies in China and overseas. Our areas of focus include brand revitalization and upgrade strategies, brand content and communication strategies, niche industry positioning and opportunity analysis, and strategies for entering the Chinese market.
View all reports published by Luxe.CO Intelligence: https://luxe.co/page/hlzk
Other brand research reports published by Luxe.CO Intelligence in the past six months include:
“Chanel in 2023”
“Hermès in 2023”
“ON in China”
“Maje in China”
“lululemon in China”
“CELINE in China”
…
We release multiple original research reports from Luxe.CO Intelligence each month and occasionally hosts industry lectures and forums. For any collaboration inquiries, please feel free to contact us.
Email: lci@luxe.co
About Tong.Luxe.CO
Launched on Luxe.CO website and app in early summer 2022, Tong.Luxe.CO is an innovative digital service that tracks daily activities of fashion brands with all-encompassing coverage for China market and selective coverage for overseas market.
The activities covered include product launch, store opening, marketing events, as well as personnel change, financial reporting and other major corporate initiatives.
Through Tong.Luxe.CO, you could find over 2000 entries on average each month about more than 1000 brands in luxury, fashion, beauty, sports and outdoor …, all tagged carefully to facilitate multi-dimensional analysis for further research.
丨Reporter：Wei Fang
