Agenda-setting intelligence, analysis and advice for the global fashion community.

Prada’s Plan for Growing in a Luxury Downturn

What’s ‘polyhedric brand equity’? Chief executive Andrea Guerra breaks down how Prada and Miu Miu — luxury’s ‘cultural brands’ par excellence — continued to outperform the market last year, and his outlook for 2025.

SoF: Luxury Prada Lead — Prada Group chief executive Andrea Guerra shares his outlook for the luxury sector. (Prada)

Robert Williams

15 January 2025

BoF PROFESSIONAL

After years of struggling to parley its fashion authority into topline growth, Prada Group reported its best-ever year in business in 2022. Since then, it’s continued to outperform rivals, reporting surging sales even as the broader luxury market slowed, entering a downturn in 2024.

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The State of Fashion: Luxury

Macroeconomic headwinds, shifting customer preferences and a deteriorating value proposition continue to weigh on the global luxury sector in 2025. Companies need to review their strategic priorities — investing in talent development, product excellence and finding new ways to engage with clients. Download the special Luxury edition of The State of Fashion report by BoF Insights and McKinsey & Company to understand the strategic imperatives for luxury executives in the years ahead.

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