Prada Not Only Sells Clothes, But It Will Soon Sell Prada Pastries
Megan Facciuolo — March 19, 2014 — Luxury
References: prada & pursuitist
After acquiring Milan's famed bakery 'Pasticceria Marchesi Pastry Shop,' Prada could name it 'Prada Pastries' -- it certainly has a ring to it, doesn't it? The iconic bakery was founded in 1824 and even though Muiccia Prada now has an 80% stake in it, there are no plans to change its name.
“Marchesi represents a symbol of Milanese excellence and I am happy we have stipulated this agreement with the family that founded the historic brand,” said Miuccia’s husband, Prada CEO Patrizio Bertelli. The couple also promised to respect the pastry shop's traditions; fans will not have to worry about their favorite treats disappearing any time soon.
The venture is just one of the many that the label has initiated over the past few years. Prada has been financing the restoration of the Galleria Vittorio Emanuele next to the Duomo in Milan. It also plans on opening 'The Pradashpere Cafe' at Harrods department store in England in May.
“Marchesi represents a symbol of Milanese excellence and I am happy we have stipulated this agreement with the family that founded the historic brand,” said Miuccia’s husband, Prada CEO Patrizio Bertelli. The couple also promised to respect the pastry shop's traditions; fans will not have to worry about their favorite treats disappearing any time soon.
The venture is just one of the many that the label has initiated over the past few years. Prada has been financing the restoration of the Galleria Vittorio Emanuele next to the Duomo in Milan. It also plans on opening 'The Pradashpere Cafe' at Harrods department store in England in May.
Trend Themes
1. Luxury Brand Collaborations - The acquisition of Pasticceria Marchesi Pastry Shop by Prada is an example of luxury brands collaborating with traditional businesses, creating unique experiences for consumers.
2. Brand Diversification - Prada's venture into the pastry industry showcases the trend of fashion brands expanding their offerings beyond clothing, opening up opportunities for new revenue streams.
3. Heritage Preservation - Maintaining the traditions of Pasticceria Marchesi Pastry Shop while under the ownership of Prada demonstrates the trend of preserving heritage and cultural significance in business.
Industry Implications
1. Fashion - The collaboration between Prada and Pasticceria Marchesi Pastry Shop highlights the potential for fashion brands to enter the food industry and offer unique experiences to consumers.
2. Hospitality - The opening of 'The Pradashpere Cafe' at Harrods shows how fashion brands can explore opportunities in the hospitality sector to enhance their brand experience and reach new audiences.
3. Retail - The acquisition of Pasticceria Marchesi Pastry Shop by Prada demonstrates how fashion brands can diversify their product offerings and expand into different retail segments.
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