About this time last week Prada shared the sad news that it has experienced a whooping loss of over 40% of net income.
According to Bloomberg, one of the steps Prada is taking to combat this issue is by introducing lower priced products. This they are doing to combat its suffering numbers due to slow expansion in some Eastern markets.
Well, this news however met with mixed feeling by some fashonistas. According to a fashion aficionado, Funke, “Isn’t it the same way Louis Vuitton slowly watered down their brand? Now you won’t catch me carrying a Louis Vuitton. I hope this doesn’t water down the Prada brand”
Well I’m all about looking at the silver lining. Remember- it’s not just a handbag- its Prada 🙂
Other steps Prada is taking include opening fewer stores and shuttering some wholesale accounts.