Rising Popularity of Prada and Miu Miu: The Power of Sister Brands
In February 2024, the global fashion ranking by Lyst Index revealed a surprising result—Miu Miu topped the list as the most popular fashion brand in Q1. Prada, which previously held the top spot, dropped to second place but has impressively remained in the top 5 for over four years. What surprised many people is that the two brands are actually sister brands under the Prada Group.
Strong Growth of Prada Group
In 2023, Prada Group recorded sales of approximately 7.6 trillion KRW, a 17% increase from the previous year. In the first half of 2024, sales rose another 13%. Despite global economic downturns and reduced consumer spending, Prada’s stock price surged over 25% in the past year.
Miuccia Prada’s Revolutionary Leadership
Experts describe the Prada Group’s growth as a disruption in the luxury market. While other luxury brands blame economic slumps and weak demand in China for their poor performance, Prada has thrived. Miuccia Prada is praised for monopolizing global “cool,” with some even saying her only real competitor is herself.
History and Evolution of Prada
Prada was founded in 1913 by Mario Prada in Milan, Italy, as a luxury leather goods shop that became popular among European royalty and the elite. After World War II, the brand suffered due to the economic depression and was passed down to Mario’s daughter, Luisa Prada. Eventually, Miuccia Prada took over the business.
From Politics to Fashion
Miuccia never initially intended to enter fashion—she earned a Ph.D. in political science, was a member of the Italian Communist Party, and participated in feminist movements. Upon inheriting the family business, she was determined to surpass her grandfather’s legacy. In 1977, her meeting with Patrizio Bertelli at a trade fair marked a turning point in her leadership approach.
Material Innovation and Minimalism
Miuccia began exploring entirely new materials. She launched bags made from Pocono nylon, which initially received a cold response but later became highly popular. In 1988, Prada introduced a women’s collection that embraced minimalist aesthetics, helping the “Prada uniform” become iconic in the fashion world.
Miu Miu’s Unique Identity
Miu Miu is named after Miuccia’s childhood nickname. Initially seen as a second line offering Prada’s essence at a more affordable price, Miu Miu later carved out its own identity with playful, free-spirited girlish looks. By showcasing at Paris Fashion Week rather than Milan, it distinguished itself further from Prada.
Prada’s Crisis and Comeback
In 2012, China’s crackdown on luxury spending hit Prada hard. Despite offering high-end leather bags, Prada lacked clear differentiation from competitors like Louis Vuitton and Gucci. From 2014, the brand faced a five-year slump in sales and brand value. But in 2017, it launched a full-scale turnaround strategy.
Sustainable Luxury and Strategic Shifts
Prada relaunched its iconic nylon bags with eco-friendly materials to appeal to younger generations. It closed underperforming stores and remodeled successful ones. Miuccia Prada and Bertelli stepped down as CEOs, appointing Andrea Guerra as the new CEO. In 2020, Raf Simons joined as co-creative director, sending shockwaves through the fashion world.
Miu Miu and the Balletcore Trend
Miu Miu proved that raw, unconventional beauty could redefine luxury. The 2021 Spring/Summer collection, inspired by rebellious private school uniforms, sparked the balletcore trend. Today, the “Miu Miu girl” is not a single style, but a character that transcends generations and personal identities.
Prada Foundation’s Artistic Contributions
Established in 1993, the Prada Foundation emphasizes the role of art and culture. It supports emerging artists by inviting them to exhibit in Milan. Since 2018, “Prada Mode,” a traveling cultural event, has collaborated with artists in various cities to showcase diverse artistic expressions. The foundation treats fashion and art equally, investing deeply in the arts.
The Future of Prada: Sustainability and Legacy
With Lorenzo Bertelli named the official successor, the future of Prada Group is closely watched. If the brand maintains its core philosophy of “ugly chic” and timeless rebellion, it is expected to remain resilient. Miuccia Prada stated she won’t stop, affirming her commitment to ongoing innovation and progress.
