Prada’s chief executive officer Patrizio Bertelli is a man who knows his own mind.
This trait is serving him well, as global uncertainties continue to loom and the coronavirus pandemic interrupted what he has called “a year of strong progress” in 2019, which saw revenues gaining 2.7 percent to 3.22 billion euros. Bertelli stands by the soundness of the strategy implemented over the past few years, slashing the group’s wholesale accounts, advocating full-price sales, investing in digital platforms and committing to quality and creativity.
The proposal in 2015 was aimed at advancing the women’s shows in July — a month after men’s wear — setting the conditions to deliver the collections the following January. But my proposal was not seen as acceptable because the timing between the men’s and women’s shows seemed too tight. WWD: A number of brands are increasing the quantity of seasonless and timeless products, partly responding to consumers’ request and partly to limit the quantity of new products channeled into the market, in light of an increased attention to sustainability. How does this fit with Prada and the brand’s constant creativity, research and innovation?
The new scenario, with the deterioration of the solvency of many counterparts, accelerated this process.P.B.: The recent logistical and manufacturing complexities have forced us to raise our prices to recover the increase of organizational costs as well as those of raw materials. In any case, it is a matter of contained, single-digit price increases.
P.B.: In the American market, the health emergency is still ongoing and it’s difficult at the moment to make any forecasts. Many of our directly operated stores are still closed and some department stores were beginning to show their financial difficulties before the arrival of COVID-19. WWD: How are you planning to present the new collections? Do you think that a digital component is indispensable? Will you present men’s and women’s together in September? We see Prada is on the Milan Digital Fashion Week calendar.
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