Prada’s bold new plan names Lorenzo Bertelli as future CEO

Its objective is to reduce the time it takes for products to arrive in stores, a crucial window as product drops and capsule collections are increasingly used to generate novelty. This means simplifying the collections, with fewer ready-to-wear pieces and leather goods planned.

A new logistics center in Tuscany, completely covered with solar panels, is 80% complete and will be able to ship up to 15 million units per year. The goal is to ship online sales within 24 hours.

Other acquisitions of suppliers are planned, with 70 million euros reserved for largely “upstream” investments, ie the raw materials necessary for production. Already, the Prada group has taken a 40 percent stake in Filati Biagioli, the supplier of fine cashmere for its ready-to-wear, and a napa leather tannery (a commodity category) in the French town of Limoges. . More leather is the order of the day, and owning fine jewelry suppliers to support the development of the category: the first jewelry pop-up was launched this week in the SKP shopping center in China, selling products from 5 000 to 25,000 €. A collection of fine jewelry is also planned.

The agreements will mean “learning more about the full traceability of the raw materials themselves and finally giving our consumers the confidence that we really own the entire process, from sourcing the raw materials to distributing the products in stores,” he said. Vian said. Vogue business.

Owning the supply chain means investments, often absent from sustainability programs, from which the vast majority of greenhouse gas emissions originate. A new target for 2029, “the most difficult step” according to Lorenzo, is to reduce greenhouse gas emissions by 42% in Scope 3, ie the supply chain. An internal reassessment of transport is also underway. Prada currently relies heavily on passenger planes alongside the entire luxury industry, but Vian says trains could carry resupply products to Asia and sees a long-term goal of increasing that to 10% of sales. .

As for discussions on a future Italian luxury conglomerate, Mr Bertelli believes it is too late. During the tie-up between YNAP and Farfetch, his son Lorenzo was shy, suggesting an interest in the talks. “If we have a great opportunity, we’ll be part of the discussion, but at the moment I don’t want to comment.” The Metaverse, however, has been on its radar for over a year. He thinks of it like social media; look at this space was the message.

President Paolo Zannoni had the last word: “Today you saw that the division of our two main brands is as firm as it is clear: Prada is intelligent, subtle, intelligent. Miu Miu is instinctive, playful, courageous. Different visions appeal to different [consumers] … Both brands have ample room to develop. The intention has been fixed.

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