A radical internal overhaul is likely to enthuse investors
after it listed its shares on the Hong Kong stock exchange in 2011, Prada’s business looked considerably blander than its iconoclastic blend of ugly chic, counterculture, politics and fashion. No longer. Its share price rose by a quarter in the three months to January, faster than at bigger luxury groups such as France’sor Kering. Investors liked the look of its new partnership with L’Oréal, a cosmetics giant, and of investments in online sales.
Both Ms Prada and her husband, Patrizio Bertelli, the group’s chief executive, have strong personalities. They also own 80% of Prada. For the arrangement to work, the trio “must get on very well”, says Luca Solca of Bernstein, a research firm. It helps that they have known each other since 2005, when Mr Simons worked for Jil Sander, a German label then part of the Prada empire.
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