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Prada终于选对人了?

Did Prada finally choose the right person?

wallstreetcn ·  Jun 3 07:39

Author: Cao Anxun.

In today's weather is good. Today's weather is good.

Prada, which previously became a hot topic because of the collapse of houses by multiple celebrity endorsers, has gained unprecedented attention from Chinese consumers due to the replacement of new brand ambassadors.

On June 2nd, Prada announced that Jia Ling is the brand ambassador, a decision that made Chinese consumers exclaim: "Finally chose the right person", "This time will definitely not go wrong".

The selection of Jia Ling as the brand ambassador for Prada signifies a significant change in the brand's spokesperson strategy. In recent years, after experiencing multiple collapses of celebrity spokespersons, Prada has lost interest in traffic stars, and increasingly favors positive public figures such as the Chinese women's football team and table tennis world champion Ma Long as partners or brand ambassadors to improve its brand image.

The powerful box office appeal and inspirational image may be the main reasons why Prada chose Jia Ling.

As the director of the popular films "Hi, Mom" and "A Writer's Odyssey", Jia Ling has repeatedly dominated the Chinese New Year box office. The box office of her directed movies has exceeded 8.8 billion yuan. The box office of her starring movies has exceeded 10 billion yuan, making her the 4th female actor in Chinese film history to have box office earnings exceeding 1 billion yuan.

In addition to selecting the spokesperson, Prada also adjusted its product strategy to win over consumers.

In 2020, the third-generation heir of Prada, Miuccia Prada, introduced Raf Simons, the first non-family creative director in the family's history, which became one of the big events in the fashion world that year. He injected Prada with minimalist style and inspirational collision.

Since then, through various designs and interpretations of the brand's triangular logo, the revival of classic nylon material, and the launch of popular products such as the Prada Cleo underarm bag, Lux Soft, etc., Prada's classic "Killer bag" has once again become popular.

Some consumers believe that Prada really took off after Raf arrived in these years. It is concise, beautiful and youthful.

After multiple measures, Prada's performance continues to rise.

At a time when LVMH and Kering are experiencing a slowdown, Prada's revenue exceeded market expectations in the first quarter of this year. The financial report shows that Prada Group's revenue increased by 16.5% year-on-year to 1.187 billion euros. Among them, Prada's sales revenue, as the main brand, was 826 million euros, a year-on-year increase of 7%.

Except for Japan, the Asia-Pacific market is Prada's largest market, with sales increasing by 16% year-on-year, contributing 37% of total sales.

TF Securities pointed out that Prada is a global leader in the luxury goods industry and continues to be favored due to its continuously improving organizational structure and strict execution. The balanced product category combination will drive the company's steady growth.

In the face of the polarized luxury goods market in recent years, Andrea Guerra, CEO of Prada Group, also feels the chill and said that this year, keen positioning, creativity and communication are crucial. Although the industry is experiencing new dynamic changes, it still has confidence in achieving steady, sustainable and market-high growth.

Under the dazzling glory, luxury brands, including Prada, have raised their prices several times in recent years, bringing harsh scrutiny from consumers on product quality and brand value. Many consumers express concerns and questions about the quality of some Prada products.

Therefore, after achieving continuous sales growth, in order to stabilize the top luxury status, Prada still needs to achieve a balance between product quality and skyrocketing prices. Only in this way can it continue to walk out of the independent market in the tide of macroeconomic pressure and consumption downgrade.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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