Prada was founded by Mario Prada in 1913 in Milan, Italy as a luxury fashion house located at Galleria Vittorio Emanuele II. Prada mainly specializes in handbags, shoes, ready-to-wear, travel accessories, perfumes and other fashion accessories. They now operate in eyewear, mobile phone and fragrance sectors as well.
In any business, there are several companies & brands which compete with each other by offering similar products & services.
For any company to thrive, it is not only important for them to improve their own products, but to also look at what their competitor is offering.
Chanel is a luxurious fashion brand from France which is known for its haute couture and ready-to wear clothing line along with other premium products such as watches, perfumes, handbags, sunglasses and designer jewellery. The brand is highly renowned across the world and wore by the high socio-economic class of people as a symbol of luxury and elitism. It was founded by Gabrielle Chanel, famously known as Coco Chanel in 1909 and was revolutionary in its designs as it freed the women of 20th century from the corseted dresses they were wearing to more comfortable and naturally flattering dresses.
2. Christian Dior:
Christian Dior was a French fashion designer who established one of the world’s top fashion house with the same name in 1946. The fashion house gained critical acclaim with its first fashion collection for spring-summer 1947 which received several accolades and achieved a phenomenal success. Today Christian Dior designs and retails various luxury goods for its target customers.
Burberry was founded in 1856, as luxury apparel brand mainly concentrating on innovative and functional outerwear. Burberry is valued at more than £2.5 Billion. It is the biggest luxury brand with largest UK export share.
4. Ralph Lauren:
Ralph Lauren is a well-known American company which was founded in 1967 by Ralph Lauren. It has its headquarters in the New York city, USA. Ralph Lauren has an employee strength of 15,000 employees and a total net assets of around US$ 6.2 billion.
Gucci is an Italian luxury fashion house. It belongs to the French fashion giant Kering group. It was founded by Guccio Gucci in 1921 in Florence, Italy.
Zara is one of the leading fashion clothing and accessories brand. It was founded in 1975 by Amancio Ortega and Rosalia Mera. Zara belongs to the Inditex group.
7. Louis Vuitton:
Louis Vuitton is one of the oldest and the prominent brand in the fashion industry. It was founf in the year 1854 by Louis Vuitton who was leather designer. In the 20th century it has been a leader in fine leather industry.
8. Hugo Boss:
Hugo Boss, which is one of the most prominent player in the apparel market today, was founded in 1924 by its founder Hugo Boss. Hugo Boss covers segments starting from Casual Clothing to Classic Tailor Clothing. Also, famous for its perfumes, shoes, watches and recently established kids wear.
Hermès by Thierry Hermès is a French high fashion luxury goods manufacturer and started with producing saddle in 1837. Presently it has several product divisions specializing in leather, ready-to-wear (men & women), lifestyle accessories, footwear, gloves, scarves, ties, perfumes, jewelry, watches, stationary and home furnishings. Hermès has an annual sale of $7 billion composed of about 30% leather goods, 15% clothes, 10% scarves, and 40% other wares and employees 10,000+ people worldwide.
Versace was found in 1978 by Gianni Versace in Milan, Italy. Gianni Versace took fashion to some another level starting from arts and theatre to the world of rock and roll. After the death of Gianni Versace, Donatella Versace, his younger sister took over Versace as creative director and took Versace to the heights of fame.
Valentino is a Milan based luxury clothing company founded in 1960 by Italian fashion designer Valentino Garavani. It is currently owned by Valentino fashion group along with fashion brand Hugo Boss which is sustained by a private group of investors from Qatar. The brand established itself as a ‘Haute couture’ and designing innovative collections staying close to the core principals of femininity, elegance and distinct design.
To conclude, the above article highlights the various competitors which compete with Prada. This understanding helps to evaluate the various external business factors for any company.
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