Prada is digitalizing
Prada stated that the reduction of the wholesale network in Italy and Europe should lead to a reduction in markdowns and the establishment of uniform prices for brand goods in different regions. And in general, for Prada, this decision is "extremely important to ensure greater consistency of pricing policy". It is aimed at supporting the sustainable long-term growth of the brand.
Prada, Like many other companies, they face an increasingly fragmented market in which prices are under pressure due to rapidly growing online sales.
Earlier, the company decided to abandon the practice of lowering prices and selling discounted goods in brand stores. Prada Executive Director Patrizio Bertelli said: "We believe that this solution will be able to improve the brand image and guarantee us higher profits.