Retail Detail. Amidst Struggling Market, Prada Plans for Expansion

July 6, 2009 • Shopping


While luxe labels are struggling to keep their brands afloat, many have been forced to close doors on at least some of their retail locations. Others, however, are continuing to facilitate their plans for growth, unhindered. Luxury house Prada, a definition of Italian style and craftsmanship, has just announced plans for two new boutique openings in Paris and Prague, and several other current boutiques set to be remodeled. These plans will help maintain the trend of expansion the label has been pursuing, after opening 34 stores in 2008.The company's retail locations now total around 240 worldwide with many more seemingly on the way. A Prada spokeswoman said the company plans to continue this pace for at least the next three years with hopes that it can generate 70 percent of consolidated turnover
from directly operated stores by 2011. This would increase from the projected 53 percent it sees today.

An ad from Prada's Spring/Summer 2009 collection

A new 6,500-square-foot, two-level unit at Place Beauvau 92 in
will launch in mid-July, while the Prada store nearby on Rue
Faubourg St. Honore is in the middle of being refurbished. Both will be
dedicated to women’s ready-to-wear and accessories and, like all Prada
stores, are being designed by architect Roberto Baciocchi. The new boutique is also steps away from the élysée Palace, residence of French President
Nicolas Sarkozy,
who wore Prada for his inauguration in 2007.

Also opening later this month will be the new women’s-only 8,600-square-foot
unit in Prague, as well as a revamped 2,700-square-foot boutique in Italy’s
tony coastal town Forte dei Marmi. Europe isn't the only place having all the fun either—Prada also announced last Thursday it has
already expanded and reopened a 4,100-square-foot men’s and women’s
store in Taipei’s premier shopping mall, the Breeze Center.

Article Source: WWD
Photo Source: flickr

-Alia Rajput

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