Prada

Prada is an Italian luxury fashion house. Recent news highlights several key developments. Firstly, Prada is launching a line of 'Made in India' Kolhapuri sandals priced at $930, following criticism of alleged design appropriation. The company will produce 2,000 pairs in collaboration with state-backed entities in Maharashtra and Karnataka. Secondly, Prada has acquired Versace for $1.38 billion, significantly less than Capri Holdings paid in 2018. This acquisition expands Prada's portfolio, which already includes Miu Miu, as it aims to compete with other major luxury groups. Additionally, luxury brands, including Prada, are focusing on growth in Hong Kong, with many opening new locations in malls like K11 Musea, despite concerns about the retail sector's external environment.