Prada is a company that has been identified as being a fashion powerhouse that is known for quality, exclusivity and creativity. Not satisfied with just being one of the top brands in the fashion industry, for an event, Prada created its own food market.
As the primary sponsor for the America’s Cup, Prada did what it does best by throwing an incredibly expensive party, and turning the traditional food market into a pop-up, spare no expense event. Situated in Valencia, Spain, the Central Market is typically a standard produce market, filled with people taking care of their daily chores. However, when Prada was in town, it was a party with DJ’s and celebrities all in attendance.
Most of the original produce stalls were left untouched, so party goers could sample food if they wished. Prada placed its merchandise hanging from stalls as well, as though to suggest they were products being sold in the marketplace.
Converted Upscale Market Venues
The Prada Market is a Grocery Store Turned Event Venue
Trend Themes
1. Pop-up Upscale Markets - Creating temporary upscale markets for events that offer a unique experience and branding opportunities.
2. Fashion Industry Event Sponsorship - Fashion brands sponsoring major events to create immersive experiences and garner brand recognition beyond just fashion.
3. Integrated Market and Retail Spaces - Combining food markets and retail spaces to create a unique shopping experience and cross-promotion opportunities.
Industry Implications
1. Event Planning - Opportunity to create unique experiences for clients by incorporating upscale market concepts into event design and branding.
2. Fashion Retail - Opportunity for fashion retailers to create immersive experiences for customers beyond traditional stores and generate buzz.
3. Food and Beverage - Opportunity to incorporate retail and marketing concepts into traditional food markets, and vice versa, to create a unique shopping and dining experience.