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Prada sees signs of recover post lockdown

By Don-Alvin Adegeest

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Business

Prada is seeing signs of recovery as markets in Asia signal confidence. The Milan-based luxury brand said it reopened stores in China, Korea and Taiwan where it saw double-digit growth in April. In Hong Kong and Macao, activity is slower due to a lack of tourists and ongoing protests. In Europe Prada reopened some stores in Germany, Austria and Holland, Prada’s CEO Patrizio Bertelli told Italian newspaper La Repubblica.

“The resumption of production should allow us to bring the autumn winter collection to the stores in late July and August, about a month later than usual. Then we will see the public’s reaction when the stores reopen with the summer collection.”

Last week, Prada partially reopened its production centers in Tuscany, Umbria, Marche, Veneto and Milan. As required by Italy’s regirousl safety protocol, companies must adhere to shorter hours with workers divided over several shifts to allow staggered access to the offices. Inside its offices and factories work stations must implement a distance of about two meters between individuals.

“We have returned to work about 300 employees of the leather, clothing and footwear divisions in the Tuscan offices, initially for the prototype and sample labs essential for the development of the collections,” Bertelli told the newspaper. Prada’s technical-industrial units in Umbria, Marche and Veneto reopened end of April, as did the collection departments of its Milan office.

With the impact of a global lockdown, temporarily closed stores and delivering a late season, it will be difficult for fashion companies to make up for 2020’s losses. “For this reason I think it would be right to extend the 2020 budget until June 2021, in order to compensate for the months of difficulty this year.”

“But who will suffer the most will be the small artisans of the sector, the most affected by the rules of social distancing. They will have to be supported by large groups, as well as by the state.”

Image via Prada website

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