Has Prada finally found the right person?

Author | Cao Anxun

Editor | Zhou Zhiyu

Prada, which was once hit by a series of spokesperson controversies, has gained unprecedented attention from Chinese consumers due to the replacement of its brand spokesperson.

On June 2nd, Prada announced Jia Ling as the brand spokesperson. This decision has led Chinese consumers to exclaim "Finally chose the right person" and "This time it won't fail".

The selection of Jia Ling by Prada signifies a major change in the brand's spokesperson strategy. In recent years, after experiencing a series of spokesperson controversies, Prada's interest in internet celebrities has waned, and it has increasingly favored positive public figures in China 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 strong box office appeal and inspirational image are the main reasons Prada chose Jia Ling.

As the director of the popular films "Hi, Mom" and "Enter the Fat Dragon", Jia Ling has repeatedly ignited the Chinese New Year box office, with her directorial film box office exceeding 8.8 billion RMB. The box office of the films she starred in has exceeded 10 billion RMB, making her the fourth female actress in Chinese film history to achieve this milestone.

In addition to selecting a spokesperson, Prada has also made adjustments to its product strategy to win over consumers' hearts.

In 2020, Prada's third-generation heir Miuccia Prada introduced the first non-family creative director in the brand's history, Raf Simons, which became one of the major events in the fashion industry that year. Raf injected a minimalist style and creative collision into Prada.

Subsequently, Prada revitalized its classic nylon material through diverse designs and interpretations of the brand's triangular logo, launching popular products such as the Prada Cleo shoulder bag and Lux Soft. The iconic "killer bag" from Prada has also regained popularity with a new image.

Some consumers have expressed that Prada has really taken off in recent years with Raf, being simple, good-looking, and youthful.

With multiple efforts, Prada's performance continues to rise.

Amidst LVMH and Kering facing challenges, in the first quarter of this year, Prada's revenue exceeded market expectations. The financial report shows that Prada Group's operating income increased by 16.5% year-on-year, reaching 1.187 billion euros. Among them, the sales of the main brand Prada reached 826 million euros, a 7% increase year-on-year.

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

Guotai Junan Securities pointed out that Prada is a global leader in the luxury goods industry. Due to its continuously improving organizational structure and strict execution, Prada continues to be favored. A balanced product category mix will drive the company's steady growth.

Facing the increasingly polarized luxury goods market in recent years, Prada Group CEO Andrea Guerra also feels the chill and emphasizes the importance of sharp positioning, creativity, and communication this year. Despite the industry undergoing new dynamic changes, he remains confident in achieving steady, sustainable, and above-market growth Beneath the glamour, including Prada, luxury brands have raised prices multiple times in recent years, leading consumers to scrutinize product quality and brand value harshly. Many consumers have expressed concerns and doubts about the quality of some Prada products.

Therefore, after achieving long-lasting sales success, Prada needs to maintain its top luxury position by achieving a balance between product quality and continuously rising prices. Only in this way can it continue to stand out in the face of macroeconomic pressures and consumer downgrades, and maintain an independent market trend