Here’s how creativity and lots of nylon catapulted this fashion label to global fame!

Monday: MicroBusiness and Marketing Marvels FROM THE DESK OF MILES EVERSON: Hi everyone! We hope you all had a good weekend. As we begin a new week, let's delve into the insightful journeys of extraordinary individuals in marketing and business. Today, we cast the spotlight on a person whose creative and innovative efforts nurtured her fashion company into a global behemoth. Continue reading below to learn more about this “Marvel.” CEO, MBO Partners Chairman of the Advisory Board, The I Institute

Here’s how creativity and lots of nylon catapulted this fashion label to global fame! Before 1979, the fashion house Prada, only had two boutiques. Today, the brand has gone global as its storefronts are found all over the world. Prada has even embedded itself in pop culture, mentioned in films such as “The Devil Wear Prada” and “10 Things I Hate About You” with the latter film’s famous exchange: Bianca: “You know, there's a difference between like and love. I like my Skechers, but I love my Prada backpack.” Chastity: “But I love my Skechers.” Bianca: “That’s because you don’t have a Prada backpack.” From being a business in leather goods, to becoming a global household name in the realm of fashion, Prada’s radical transformation is an impressive feat. All this success wouldn’t have been possible without… Miuccia Prada! We’re not exaggerating when we say Prada was born to be in the fashion industry. After all, she’s the granddaughter of the company’s founder, Mario Prada! Interestingly, her pursuits went beyond fashion growing up, and in 1973, she earned a doctorate in political science from the University of Milan. In 1978, she would eventually take up the reins as the head designer of Prada. By the time Prada stepped up as head designer, the company only had an annual sales of around USD 450,000, struggling to keep up with competitors such as Gucci in the luxury bag market. Despite this, Prada’s creativity would later transform the identity and lead to the success of the brand. Critical to her company’s transformation was Prada’s trailblazing approach to materials and design. In 1985, she launched a line of handbags made of a sleek black nylon called “pocono.” This special waterproof fabric was initially used by her grandfather as coverings for leather luggage products. Due to the unique fabric used, the lightweight and durable handbags with her brand’s minimalist logo became an instant sensation, becoming highly sought after by celebrities, elites, and ordinary people alike! The fashion designer also steered the company towards producing women’s ready-to-wear (RTW) fashion, expanding its offerings from leather goods and bags. Neat lines, luxurious fabrics, and other striking visual elements became the defining characteristics of Prada’s collections. At the same time, Prada pushed the boundaries of traditional norms with her clothing collections full of unconventional silhouettes and color palettes. Although the originality of Prada’s designs has led some industry watchers and fashion enthusiasts to dub her style as “ugly chic,” the designer’s persistent creativity was highly regarded. One fashion director stated to TIME magazine in 2004: “If you want to know what a season is about, you don’t miss the Prada show. She never follows anyone else’s lead, just her own original energy.” Prada’s blending of luxury, experimentation, and sensibility has continued to draw commercial success. In 2022, her fashion company earned a whopping EUR 4.2 billion in sales, with a significant net profit of EUR 776 million in the same year. Prada has also earned critical recognition due to her originality and unique approach to fashion design. These awards include the International Award from the Council of Fashion Designers of America in 1993 and 2004, and Fashion Innovator of the Year by WSJ Magazine in 2015. In 2018, she also received the Outstanding Achievement Award from the British Fashion Council. Amazing, right? It’s a massive feat to grow a global fashion empire from a few leather goods shops. For that, Prada’s efforts in the industry deserve admiration. — Prada’s enduring success offers valuable lessons we can all learn from: Balance innovation with practical offerings. Prada once expressed her philosophy in fashion design as “Art is for expressing ideas and for expressing a vision. My job is to sell.” Prada’s refusal to approach fashion with complex and outlandish designs is why the company’s experimental but sensible clothes continue to be in demand. Embrace change. Prada’s decision to shift to RTW fashion prevented her company from stagnating in a niche market. Expanding into women's wear diversified the fashion house’s offerings. As a result, the company’s income streams increased. Prada’s experimentation with nylon fabric and other materials also allowed her bag designs to stand out until now. Let happiness be your motivation. Finally, Prada’s longevity in the fashion industry can be attributed to the fulfillment she feels from her work. She stated: “If it [her career] would go really badly, probably it would affect me. But I think happiness comes from human things. I’m happy in my job when I’m doing something that I think is really clever.” As Prada’s achievements demonstrate, finding happiness in your work can drive you further in life, opening up more opportunities along the way. Prada's journey shows us the importance of blending creativity with practicality, embracing change to foster growth, and allowing happiness to be a driving force in our pursuits. As a result, she remains a top player in the fashion industry whose collections are highly anticipated every season. Hope you’ve found this week’s topic interesting and helpful.     Would you talk about price when you want to advertise a product? Learn more about Abi Aquino in next week’s article!