Prada continues to push the walls. At the head of twenty-four sites, twenty-one of which employ 3,200 people in Italy, the luxury group known for its Prada, Miu Miu and Church’s brands has announced the hiring of 400 people in the Italian peninsula of here at the end of the year. It will invest 60 million euros in its factories, after 70 million in 2022.
In Torgiano, in Umbria, its sweater and knitwear factory will double in size to reach 9,000 square meters and employ 250 people. A battery of automatons will be deployed in the factory located in Levane (Tuscany) to increase the production of sneakers type shoes. And the workforce of the Scandicci site (Tuscany), specializing in bags, will be expanded by 100 additional positions (50% more than currently). Seventy people will be hired in factories dedicated to leather goods in Figline, Arezzo, Terranuova, in Tuscany, and Milan (Lombardy), in 2023.
In France, the Limoges tannery, acquired in 2014, which supplies it with skins, will be modernized to improve its water reprocessing system.
Preparation for an IPO in Milan
The group chaired by Patrizio Bertelli, a shareholder alongside his wife, designer, Miuccia Prada, granddaughter of the founder, is thus pursuing the “verticalization” of its activity, explained Massimo Vian, industrial director, Thursday, April 20, during a presentation to the press. On the other hand, the company, of which 20% of the capital is floating, is preparing the ground for an IPO on the Milan Stock Exchange, twelve years after having raised 2 billion dollars (1.8 billion euros), during a first listing abroad, in Hong Kong.
Since its creation, in the Vittorio Emanuele II gallery in Milan, in 1913, by Mario Prada, the brand born out of leather goods has been keen to maintain and expand its own factories, going against the tide of its competitors, followers of understated contracting to make their collections.
In addition, it announces that it will continue its policy of acquiring subcontractors and suppliers near its workshops. In 2021, the manufacturer entered the capital of a cashmere spinning mill, Filati Biagioli, alongside the Zegna group, located in the Pistoia region, in Tuscany, and, in 2022, the capital of the Italian tannery Superior, specialist in skins. of veal, located near Pisa. This year, part of its 60 million euros of investments will be allocated to acquisitions, specified Lorenzo Bertelli, the eldest son of Patrizio Bertelli and Miuccia Prada, called to replace the boss, Andrea Guerra, in a few years.
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