In addition, Prada is aiming to go beyond just enhancing its digital strategy, to reach a younger audience who are known for their social conscience. The company announced in May that it would ban fur from its collections and products, setting out its brand values and receiving much applause from the eco-conscious online community.
In order not to waste existing fur products, it will continue selling them until the inventory is exhausted. But starting with its women’s spring 2020 ready-to-wear collection, no animal fur will be used and instead, the focus for Miuccia Prada and her design team will be to explore new, innovative materials.
As part of its sustainability plans, the brand has also re-imagined its famous nylon bags with a new regenerated nylon material known as econyl. Econyl will be used for a special new capsule dubbed “Re-Nylon” but the goal is to ensure that by 2021 the nylon it uses for all its products is recycled.
This rethinking and re-evaluation on Prada’s part shows much needed progress from the company to adapt its business to the more modern demands of luxury consumers. However, the question remains on whether it will be enough to catch up to its peers and transform itself once again into a leader in the luxury market.
