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04-May-2018 06:18

Although we have often had to change our plans, the way we manage the company has remained constant.

The values that guide our decisions, the way we organize ourselves, how we communicate with one another and with our stakeholders—these have changed hardly at all.

Photography: Courtesy of Prada / Costantino Ruspoli The Idea: While rival fashion houses have struggled and been acquired by conglomerates, Prada has prospered.

Its CEO says that has a lot to do with the company’s culture.

The Idea: While rival fashion houses have struggled and been acquired by conglomerates, Prada has prospered.

Originally we planned to go public in Milan in late September 2001, but the 9/11 tragedy, followed by the second Gulf War, the outbreak of SARS, and a global credit crisis, upset our plans.

Good designers should be the masters of their designs, or their ideas may be spoiled.

Good managers shouldn’t be second-guessed, or no one will want to make decisions. A designer or a manager should be able to exercise it without limiting access to information.

They feel that managing the relationship with a partner will be easier and they will retain control.

People working closely with Miuccia in design will talk often to people working closely with me on the commercial side. Any department store will tell you that Prada delivers clothing and accessories very quickly after a design has been presented on the runway.

It’s difficult to overestimate the importance of this capability in the time-sensitive business of fashion.

At Prada we have had to cope with our fair share of the unpredictable and the unexpected.

Originally we […] " A few decades ago, Prada believed that its future depended on gaining market share through acquisitions in Western Europe and the United States.

They feel that managing the relationship with a partner will be easier and they will retain control.

People working closely with Miuccia in design will talk often to people working closely with me on the commercial side. Any department store will tell you that Prada delivers clothing and accessories very quickly after a design has been presented on the runway.

It’s difficult to overestimate the importance of this capability in the time-sensitive business of fashion.

At Prada we have had to cope with our fair share of the unpredictable and the unexpected.

Originally we […] " A few decades ago, Prada believed that its future depended on gaining market share through acquisitions in Western Europe and the United States.

As an industry matures, fragmentation overcomes and industry tends to become a consolidated industry dominated by a few large companies.