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Prada SWOT & PESTLE Analysis

ID : 52597153| Oct 2019| 15 pages

COMPANY PROFILE -Prada

Business Sector :Luxury fashion and apparel

Operating Geography :Italy, Europe, Global

About Prada :

Prada is an Italian luxury apparel and accessories company founded by Mario Prada in 1913. The company has 13197 employees, 22 factories and operates in 70 countries. The Group believes in a new approach of doing business that lays emphasis on values like freedom of creative expression, valorization of people’s work, preservation of know-how and reinterpretation of the existent. The groups DNA consists of the following principles: innovative tradition, subverting the rules, uniqueness of talent, spirit of excellence, sustainable paths and beyond boundaries.

Prada Revenue :


3,142 million Euros (FY 2018) (2.8% increase YoY)
3,056 million Euros (FY 2017)

Competitive Analysis of Prada

SWOT
PESTLE
The SWOT analysis of Prada is presented below:
Strengths
Weaknesses
1. Portfolio of strong brands
2. Strong distribution network of directly operated stores (DOS)
3. Positive sales growth in most geographies
4. Successful new product launches and high growth across categories
5. High investment in technology
1. Poor performance in the Chinese market compared to rivals
Opportunities
Threats
1. Growing luxury product market in India.
2. Increasingly knowledgeable consumers and rising disposable income driving luxury market growth in Middle East
3. Technology roll to boost e-commerce, operational efficiency and digital customer experience
1. Luxury goods market is vulnerable to international business and economic risks
2. Changing trends and shifts in consumer tastes
3. Malpractices by Prada’s manufacturing vendors could tarnish brand image
4. Financial risks could negatively affect the strong financial structure of Prada
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Detailed SWOT Analysis of Prada

 

Strength

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Weakness

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Opportunity

1. Growing luxury product market in India: India is considered to be the second largest luxury market after China. It will be an important market for international luxury brands looking for new avenues of growth. The growth of the market is driven by changes in FDI policy, Make in India focus, rise in income of the middle class and strong manufacturing industry. The FDI policy change that allows 100% FDI in single brand retail has received appreciation from international fashion brands. India’s ‘Ease of Business’ ranking has also improved. Prada has already made inroads in the Indian market by selling its products in India through e-commerce firms like Snapdeal and Flipkart.

2. Increasingly knowledgeable consumers and rising disposable income driving luxury market growth in Middle East: The luxury goods market in the Middle East is expected to grow at CAGR of 8.1% during 2017-2025 to reach a value of USD 22.4 billion by 2025. Middle East consumers are the tenth highest spenders on luxury goods, according to Goldstein Research. The Gulf Cooperation Council countries – Saudi Arabia, Kuwait, UAE, Qatar, Oman and Bahrain see rising demand for luxury products despite economic slowdown. 70% of Middle East consumers have increased their luxury goods spending, compared to 53% in Europe, Japan and USA. Luxury goods companies are increasing their presence in the region by extension of their distribution network and opening new stores. A major growth driver of the Middle East luxury goods market is the growth in knowledgeable and inquisitive consumer population in the region, as well as rising disposable income, especially in UAE and Saudi Arabia. Prada is in expansion mode in the region, having announced in May 2018 that they would open a new flagship store in Dubai. This comes 6 years after the opening of its current flagship store in Dubai.

3. Technology roll to boost e-commerce, operational efficiency and digital customer experience: Technology has a great potential to boost a company’s performance in today’s world. Prada is in the midst of a massive tech roll out will drive its growth and open up new opportunities in the coming years. In 2018, a new website for Miu Miu was launched in Europe. In 2019, the focus is on launching e-commerce platforms for Prada’s brands. The in-store app Clientsphere has been upgraded. A new merchandise planning tool is being rolled out to improve effectiveness and efficiency. The company is working on developing a seamless remote customer experience and has launched new concierge functions in 5 regional hubs. Prada is also integrating CRM with AI. The company has set up a data science team and implemented cross-channel marketing automation process for generating campaigns based on analysis of customer behavior. Digital communication initiatives like Prada Linea Rossa, Prada Delivery Man and Miu Miu Iconic Wardrobe are launched. Prada has also launched new digital channels through Twitter Japan, Kakao Talk and Spotify.

Threat

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Major Brands :

  • Prada
  • Miu Miu
  • Church’s
  • Car Shoe
  • Marchesi 1824
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Check Out Analysis of Other Relevant Companies

TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in Prada Analysis Report

1. Prada Annual Report 2018 - https://www.pradagroup.com/en/investors/investor-relations/results-presentations.html

2. Prada Annual Report 2017 - https://www.pradagroup.com/etc/designs/pradagroup-balance/docs/prada-annual-report-2017.pdf

3. Prada SPA Presentation 2018 - https://www.pradagroup.com/content/dam/pradagroup/documents/Financial-Report---presentation/FY_18_Prada%20Spa_presentation.pdf

4. Prada company profile - https://in.reuters.com/finance/stocks/company-profile/1913.HK

The detailed complete set of references are available on request in the 'Complete report' on purchase.

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Prada SWOT & PESTLE Analysis - SWOT & PESTLE.COM

SWOT & PESTLE.com (2019). Prada SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/prada/ [Accessed 18 Nov, 2019].

In-text: (SWOT & PESTLE.com, 2019)

Copyrights and Disclaimer

Prada SWOT and PESTLE analysis has been conducted by Nipunn V and reviewed by senior analysts from Barakaat Consulting.

Copyright of Prada SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

Prada SWOT & PESTLE Analysis
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