MILAN — The Prada group has appointed Roberto Massardi director of business development.
This is a new role for the company, but marks a return for Massardi. After holding several positions within the Pirelli group, he first joined Prada in 1996 as director of business development, then was appointed managing director of Jil Sander when the Hamburg-based brand was taken over by the group of Italian luxury. Change Capital Partners acquired Jil Sander in 2006, but Massardi had left a year earlier to join Sportswear Company SpA and its Stone Island brand as managing director.
At Prada, Massardi will report to co-chief executives Patrizio Bertelli and Miuccia Prada. He will be responsible for the strategic development of the group through the evaluation of new business opportunities.
This appointment reflects the strategy set out by the group during its Capital Markets Day in November, which includes a key objective to strengthen the categories of traffic creation and selected collaborations, bringing the licenses to their full potential. Beauty, fine jewelry and home collections have been identified as growth avenues that could contribute to the group’s financial objectives. In the medium term, these include reaching revenues of around 4.5 billion euros, which implies almost doubling the figures of 2020, when the company posted revenues totaling 2.42 billion euros. euros. The company is also targeting an operating profit of around 20% of sales.
Prada is also seeking to double the percentage of the group’s online sales to represent 15% of retail revenue and to increase the productivity of directly operated stores by 30 to 40%.
In November, as noted, Prada experimented with homewares for the first time, opening a boutique in the interiors department of Harrods.
The new permanent space is located on the third floor of the department store and is entirely dedicated to “sophisticated homewares and accessories”. The pieces were designed with longtime Prada collaborators, including Martino Gamper, a northern Italian designer based in London who uses reclaimed materials, such as wood and formica, to create new furniture.
The store offers a mix of handcrafted homewares, including fine china with signature Prada designs; gold-plated professional sewing scissors and hammered silver cutlery, as part of a reissue of Josef Hoffmann’s original 1905 design for Wiener Werkstätte. Gamper, who has worked with the label on numerous shop and window designs in the past, has also created a series of objects for the space, including vases, cutting boards and trays featuring geometric patterns and a mix of materials, such as wood and colored laminate.
Effective January 1, 2021, Prada and L’Oréal have signed a long-term beauty license. Puig had held Prada’s fragrance and beauty license since 2003. In August last year, Prada launched new men’s fragrance Luna Rossa Ocean, led by Jake Gyllenhaal, followed by the relaunch of mainstay Candy fragrance with a campaign directed by a virtual face.