Prada SWOT Analysis
Prada is one of the leading brands in the lifestyle and retail sector. Prada SWOT analysis evaluates the brand by its strengths & weaknesses which are the internal factors along with opportunities & threats which are the external factors. Let us start the SWOT Analysis of Prada:
Quick Glance:
Prada Strengths
- Prada is one of the most established luxury fashion houses worldwide
- Prada products are known for its quality and unique designs
- It has a strong association of luxury and exclusiveness attached to it
- The brand has a strong presence in and around the world
- Good advertising and branding through print ads, online ads & social media make Prada a very popular brand name
- More than 12000 people are employed with the organization
- A strong legacy of the brand Prada since its inception in 1913 shows its popularity in the luxury segment
- Prada is actively involved through shows, boutiques and also makes perfumes, premium watches etc.
- The company has an annual revenue which exceeds more than $4 billion.
- Its products are available via multi-brand ecommerce portals as well as its exclusive website
Above are the strengths in the SWOT Analysis of Prada. The strengths of Prada looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
Prada Weaknesses
- The brand has severe competition and hence there is high brand switching
- Fake imitation of Prada products affects the brand image and its business
These were the weaknesses in the Prada SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
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Prada Opportunities
- Entrance in emerging markets can be tapped by Prada
- Capitalizing the digital medium to increase its reach where it is not available
- Tie-up with fashion houses through partnerships to increase awareness
- Prada can collaborate with leading hotel chains & elite clubs where rich people could become customers
Above we covered the opportunities in Prada SWOT Analysis. The opportunities for any brand can include prospects of future growth.
Prada Threats
- Intense Competition in luxury fashion can lead to decline in Prada's business
- Easily available substitutes can reduce profit margins
- Change in economy which may reduce the dependence on luxury fashion
- Being a global brand, its business is subject to recession, economic conditions etc.
The threats in the SWOT Analysis of Prada are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
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Hence this concludes the Prada SWOT analysis.
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About Prada
The table below gives the brand overview along with its target market, segmentation, positioning & USP
| Prada Overview | |
|---|---|
| Parent Company |
Prada |
| Category |
Accessories and Apparel |
| Sector | |
| Tagline/ Slogan |
Prada |
| USP |
Prada is a brand which focuses only on luxury Fashion |
| Prada STP | |
| Segmentation |
Premium apparel |
| Target Market |
Men and Women from urban upper class |
| Positioning |
Prada is positioned luxury fashion for the elite |
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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