Miuccia Prada's Wealth Life

In the past two years, the luxury industry has had a hard time: Chanel has cut prices, LV has stopped expanding, and even the "high cold" Hermes has been discounted. But the worst case is the Italy brand Prada, which first broke out the quality problems and then the executives' tax evasion scandals. In March 30th, Prada group released its annual report for 2014, with net income reduced by 28%. The biggest impact of this annual report is Miuccia Prada, the helm of Prada, whose net assets dropped from $11 billion 100 million last year to $4 billion 100 million. If you take all the money she lost to buy Prada's classic killer kit, you can buy at least 3 million 500 thousand!

There are not many people who gloat over Miuccia's collapse. After all, even in the fashionable world of yin and Yang, there are not many women who can really focus on the top of the industry. Mark Jakob, the genius designer of the United States, made no secret of her admiration for Miuccia, calling her the real queen of fashion circles. On the one hand, Miuccia's works influenced a generation of designers, and on the other hand, her life was just like the classic story of the golden age of Hollywood - Miss of birth, but she had a heart to be a mortal.

At the time of Miuccia's birth, the leather brand Prada, created by grandpa Mario Prada, has gone through 36 years, growing from a small workshop in Milan to a fashion darling in Europe. Miuccia had little interest in his family brand, nor did he learn and design according to the requirements of his family. She often says, "day after day, my family will hardly change. There is neither conflict nor interest in life, not to mention happiness."

In contrast, Miuccia seems to want to be a literary youth. In 50s of last century, when her grandfather died, her mother took over the family business. Because of the traditional Catholic family, the mother was very strict with Miuccia, and there were more luxuries at home, and daughters were not allowed to wear too conspicuous clothes. A strong mother and a regular family tradition are like a cage that keeps Miuccia trapped.

In the 60s of last century, Miuccia decided to run away from his mother's control. He ran away from home and studied and performed at the little theater in Milan, where he had been a mime for 5 years. At that time, the leftist trend of thought prevailed in Italy, and Miuccia grew into an intellectual during that period. During her study in politics in Milan, she joined the Communist Party of Italy and actively publicized communism and feminism.

In 1970, Miuccia, who finished her doctorial studies, faced a dilemma: one side was the cultural circle and social activities she could not give up, the other was the declining family business. At that time, the influence of Gucci and Hermes was attacked by Prada. Under the pressure of her mother, Miuccia returned to the family business.

But this time, Miuccia is no longer the mother's dogma, but the increasingly lonely market, and aggressive opponents.

In 1977, Miuccia, who had worked in the company for more than 6 years, met a young man named Partizio Bertelli at a commodities fair. He was born in a lawyer family in Tuscany, Italy, and has rich experience in luxury goods management. Perhaps it is similar to the fate, the two hit it off, Miuccia designated Bertelli as the main partner, and later in the relationship with him to wipe out the spark of love, soon became a connection.

In 1978, Prada was in a difficult position. In the eyes of outsiders, bankruptcy or acquisition would be the last destination of the old store. Two couples were in danger and took over the company formally. Miuccia served as chief designer and Bertelli served as CEO. In the face of the precarious family brand, Miuccia, after the "accession to the throne", displayed the Queen's gesture and made every effort to turn the tide.

Miuccia's first step is to change his family name. All along, her father's surname is Bianchi. For a family business like Prada, allowing the surname to take charge of the company, it will inevitably lead to employees' criticism. In order to solve this problem, Miuccia inherited himself to his unmarried aunt and surnamed Prada as her aunt, so that she became a "family" in good faith and established prestige within the company.

In terms of products, Miuccia has made great efforts to reform her husband, Baer. "I am a person who only wants to be concerned about art, and he knows what kind of fashion the market needs." Miuccia said. Bertelli believes that Prada's biggest problem is no star products, so Miuccia began to work hard in this regard. Because of non artistic origin, Miuccia has to learn from scratch from design, material selection and tailoring. "It took me 7 years to study what others liked, and I was overthrown again and again." One day, while attending a Italy Air Force's activity, Miuccia saw that the parachute material used by the pilot was light and wear-resistant, and suddenly sprouted a bold idea -- using a black nylon fabric of a parachute to design a backpack. In 1985, Prada launched the "black nylon bag", which became the most popular single product in 80s. In the same year, Prada also introduced a series of ready-made garments. The cutting tailoring led to the trend of minimalism at that time and changed the image of the "leather worker" in the past to become a real fashion company.

Miuccia's third move is to expand the product line. In 1992, she named her second name brand Miu Miao, claiming that she wanted to "turn a woman back into a little girl". This is more young and fashionable. brand When she became popular, Miuccia won many international awards at the same time.

Mr. Miuccia and his wife have been in charge of the company for more than 20 years, one is responsible for product and design, one is responsible for the market and finance. Prada Once became the most aggressive luxury brand. Despite a debt crisis in the 90s of last century, with the concerted efforts of the two people, it finally turned the corner. In 2006, the Hollywood movie "the devil wears Prada" was so popular that it pushed the brand to the forefront of fashion.

In developing the market, Miuccia Made a very correct decision to enter the Chinese market. In 2011, Prada went public in Hongkong and expanded in the mainland of China. In 2012, Prada's net sales in China increased by 35%, and Miuccia's personal assets also amounted to $12 billion 400 million, becoming the ninth richest woman in the world.

However, in the past two years, with the cold of luxury goods in mainland China and the rise of the brand of the new generation designers, Prada is facing the double bottleneck of business and design again. What's more, in recent years, the quality problem of Prada products has been frequently broken out on the Internet. In 2013, a fashion blogger made such a micro-blog: "if you buy a Prada bag for a year, the zipper is not bad, Logo has not dropped, it has not been opened, and the quality is good. It basically proves that you bought a fake." For a luxury brand famous for its quality, such reputation can be regarded as a disaster.