Prada is a world-class high-end luxury fashion brand offering apparel, footwear, perfumes, handbags, and other fashion accessories. This brand is associated with the high and royal people in society. It is for the high-class shoppers who can afford to part with a five-figure budget without a sweat. Prada was founded in 1913 by Mario Prada. He opened his first shop in Milan, which sold leather bags, travel accessories, and trunks. Prada’s’ goodies were well sorted by the rich. He supplied the Italian Royal Household, which earned him to use royal coat of arms on its logo. Prada continued to do so well in sales and profits, and it became a well-known luxury brand in Italy and beyond.
When Did Prada Start Ready To Wear Fashion
Prada ventured into ready-to-wear fashion later in the 1970s. His granddaughter Miuccia Prada is the Co-CEO and head designer. He introduced accessories and nylon to make bags in 1984. Years later, the same concept of using Econyl Nylon to make iconic vintage handbags jackets made a name in the luxury fashion world.
Prada’s are iconic fashion designers who are largely accredited with transforming Prada from a small family business into a luxury fashion house competing with other big brands like Chanel, Armani, Gucci, Burberry, and Hermes.
So, What Makes Prada Extremely Expensive? (6 Reasons Why Prada Is Expensive)
Prada is a well-known brand with durable products, especially bags made from high-quality leather tough and durable synthetics. Prada has maintained quality and unique design over 100 years of its existence. This makes its products expensive, and shoppers don’t mind spending more on authentic, durable products. Quality controls on Prada products are on the check.
Prada is one of the most iconic luxury designers globally. Early in the days, Prada made very good quality leather bags, trunks, and travel accessories which earned Prada the grand title of official supplier of Italian Royal Household in 1919.
This enabled the brand to use a royal coat of arms on its logo, which is still visible. Since then, Prada has been associated with the wealthy elite in society.
Buying products from a luxury brand like Prada gives one high self-esteem and a sense of belonging to a specific wealthy class.
Despite being expensive, Prada has succeeded to great heights because it gives its consumers that feeling of accomplishment. Owning or having a luxury brand product like Prada’s is one of many people’s dreams. They end up saving to afford one.
Who doesn’t know Prada! The Italian brand is well known worldwide, with more than 600 stores located in Europe, Asia, the USA, and other countries.
The largest Prada store is at the Mall of the Emirates in Dubai. This brand has been well recognized for providing quality products for over 100 years in the fashion industry. Prada held its first runway show in 1999.
Status And Exclusivity
Prada brand is niched to an audience with expendable sources of income. It belongs to a group of luxury fashion that makes one special and appealing by owning a Prada item. Over the years, many celebrities have been spotted wearing a Prada or doing Prada promotions.
The first celebrity to wear a Prada gown on the red carpet was Umma Thurman in 1995. Wearing a Prada makes one feel sophisticated and good just to be wearing something a popular celebrity is wearing.
The notion of a celebrity wearing Prada makes it even more expensive and scarce. Prada sells its luxury ready-to-wear in stores and not online, unlike other luxury fashion brands. This means you have to visit their stores to make a purchase physically. This makes Prada Design desirable and out of reach, meaning its exclusivity is a pricing strategy.
Heritage And Design
Prada products have well-crafted designs done by well-trained craft-men. The reputation of the design house and legendary dedication to craftsmanship and quality has enabled Prada to maintain its status as a luxury fashion house, thus selling expansive.
The idea is to maintain the quality and heritage of these products as good and authentic as they were in 1913. Exclusive designs make Prada expensive. Prada luxury is well known for helping fight climate change and pollution by using recycled plastics and nylon collected from the ocean to make vintage nylon bags and jackets.
Prada is a well-branded luxury fashion that helps shoppers easily recognize and identify its products. Branding makes it have a global presence. Prada only sells fragrances and accessories online; it’s the only known fashion designer that doesn’t sell it ready-to-wear online.
Celebrities are used as brand ambassadors for Prada. Marketing alone for this brand is expensive, thus shifting the cost of Prada products to its customers.
The List Of Prada’s Most Expensive Fashion Products
Prada designer bags are very expensive because they are made of high-quality materials which are rear in supply. The designer’s name (Prada) makes the bag even more expensive. This is also because of the exclusivity and status of having the bag. The demand for Prada bags is so high, hence the low supply, making every woman and even man want to own such a rear Italian Brand.
Prada sunglasses are luxurious accessories made from high-quality materials. A unique frame style and a logo embedded on the side of the frame make the glasses very expensive.
These sunglasses’ high demand and legendary glamour make them even more expensive. There is a feeling of sophistication and exclusivity that one feels when wearing Prada sunglasses.
The Prada shoes are made from soft, high-quality, durable leather. Prada is a well-established brand that displays class, style, and luxury on its shoes. The label and Design make these shoes expensive.
Prada launched a luxury fragrance line in 2003 for both genders. Some of its fragrances include Prada Candy, Prada La Femme, Prada Luna Rossa and Prada D’Homme. These are the Lowest-priced items in the Prada luxury chain.
Prada luxury fashion brand continues to face competition from other luxury fashion houses, but its unique selling point has been its magnificent Design and not the branding alone. It has a competitive advantage of being a very durable brand, which has made it have high returns on capital.
Prada is also well known for using minimal design to achieve a traditional style with modern influence.
One May Wonder! Is Prada Pricing Exaggerated?
Prada’s value is seen in everything that the brand presents. The quality of the products, exclusivity, creativity, relevance, sophistication, and intensity of luxury products make the brand stand out.
Those who can afford the brand pay for the above, and those who can’t afford Prada question the high price. The artistry that goes into every piece made and the storied history and the originality of designs make Prada dictate its designs’ pricing.
Did you know Prada has another clothing line that is more affordable than the mainstream Prada line? In 1999, Miuccia Prada founded the Miu-Miu clothing line that offers more casual and affordable designs.
We can conclude that Prada is an expensive luxury brand with a global presence well known for its high-quality apparel, footwear, bags, and other accessories which portray heritage and Design.
Prada bags, in particular, portray wealth and class to the owner without being flamboyant. The brand continues to grow with estimated revenue of $ 4 billion annually.