Prada on Thursday said it is investing 60 million euros in its supply chain, boosting production at its knitwear factory in Torgiano, Umbria.
The capital injection will improve its facilities and upgrade technologies.
The Group is also eyeing to acquire smaller factories where it can be competitive in its craft and increase output.
In 2018 Prada operated 21 company-owned sites, 18 of which were located in Italy. Investments over the past five years have grown the number of industrial sites to 24, with most of its employees working in the leather goods and footwear categories.
Prada said it aims to hire a further 400 workers by the end of 2023 to strengthen its production capacity and maintain growth. The group currently employs 3,240 workers across its industrial sites, of which 63 percent are women.
Article source: Reuters