Prada Refurbished Two Flagship Stores

In the past month,

Two new stores have been opened, and two flagship stores have been renovated.

The new store is located at the GUM Mall shopping mall beside the Moscow Red Square and the Zurich center.

The Bahnhofstrass of the district.

The renovated stores are all in China, including the flagship store opened in Guangdong road in Hongkong in 2002, and the Hang Lung Plaza store in Shanghai.

And the

In recent years, such a speed has slowed down.

Since 2012, Prada's store strategy has been more radical.

It has opened 260 stores in emerging markets including Brazil, Russia, India, China and South Africa.

In 2014, there were 54 new stores.

By the end of this 1 month, the total number of stores in the world has reached 618.

For any high-end luxury brand, overexposure is not a good thing, especially when the economy is sluggish.

"Everywhere is fatal," said Robin Lewis Lewis, a retail analyst and Professor FIT, in an interview with racked.com. "The problem is that when brands realize that they are heading in this direction, everything is probably over."

According to the 2015 earnings report released by Prada in April this year, its profit fell 27% year-on-year, a record low of five years.

Among them, the company ranked first in the category of leather products revenue fell 10% compared to the same period, handbag products sales in Asia is particularly low.

Its performance in the US market is equally poor. Wholesale sales of third party retailers have shrunk by 21%, while direct sales have fallen by 7%.

In addition to overexposure, Prada's performance in product innovation has also been criticized.

The queen of Prada wearing 10 years ago witnessed the good time of the brand from 2001 to 2009.

By 2011, when Prada went to Hong Kong, its product strategy seemed more conservative than Chanel, Goyard and other private brands.

Despite the abundance of products, the impressive design still seems to include only killer kits and bamboo bags.

"For a while, Prada has been releasing new products in the real sense.

But over the past few years, the pace of product renewal has slowed down, and the consequences have emerged.

A.T. Kearney retail analyst Hana Ben Shabbat said.

Now, the poor performance has finally made Prada aware of his problems.

It began to slow down the pace of opening stores, focusing on optimizing the retail network and shopping space.

The newly opened Zurich store and renovated Shanghai Hang Lung Plaza have added customized services to access Wifi and other digital services.

Stefano Cantino Cantino, the group's strategic marketing director, said at the opening ceremony of the flagship store in Hongkong last Friday that the new store reflects a new consumer centered strategy.

"Unlike the past, the goal of the store is to create a more intimate, personalized and unique shopping experience for consumers."

In addition, Canitno also told the media in April that the brand will close some stores and reduce the price difference between new products in different regions to 10%.

They plan to introduce more new bags priced from 1200 euro to 1400 yuan, and double the sales volume of e-commerce platforms in the next two years.

In July 15th, Prada was just on sale at Net-a-Porter. The products on the shelves included bags, shoes, leather decorations, and early autumn show women's wear.

In October this year, it also plans to enter Snapchat and try more on social marketing, aiming at younger groups.

Better late than never, but the most dangerous thing in fashion industry is catching up with the trend.

By contrast, Gucci and Louis Vuitton are changing more rapidly.

Gucci Alessandro's new creative director, Michele Michele, has brought more youthful designs, while Louis Vuitton's creative director Nicolas Ghesqui re re has attracted a lot of attention through brand marketing.

Carlo Mazzi, chairman of the Prada board, revealed in May that they are adjusting the management structure and will be completed by the end of this year.

At present, Patrizio Bertelli and his wife Miuccia Prada jointly serve as CEO, Miucci also serves as creative director.

Two per capita is nearly 70.