Once the 1990s came around Prada really started to blow up and became the elite status that it is today throughout the fashion world on so many different ways, but really it was when the 90s got them going they started becoming a company with over 30 millions dollars worth of sales per year, which is pretty steady especially when your clientele is only really rich people who like to spend a lot but there aren’t a lot of them so you have to really reel them in and get them to spend a lot when they come into your store, so it is a rather difficult business no matter how good the products are on the shelves.
One thing that Prada did really well in the 1990s that helped them explode off the charts was that they continued to appeal to people who weren’t extremely rich and wanted to expand their demographic beyond the elite upper class to the working, middle class people where there was more of a likelihood of finding customers willing to buy products. Because they went through a “working class” themed fashion line they started to get a lot of praise from big fashion magazines and all types of media who wanted to write stories about how innovative they were in the fashion industry. Other businesses Prada was competing with refused to lower their prices and try to appeal to more people because they saw it as a sort of detriment to their integrity as a luxury apparel line, but Prada only saw this type of stubbornness from their competitors as an opportunity for them to pounce on a market that was growing more and more throughout the 90s as the world economy was coming to an all time high and more and more people in the middle class across America and the Western world were starting to make some serious money and enter into the type of class that can afford fashionable products like those from Prada and other luxury brands. Part of what made Prada so successful during this time period has to be partly attributed to the overall growth in the economy and the rise in GDP per capita throughout the USA because it meant that more people now were a part of their luxury demographic, and of course when people start to earn more money than they’ve ever had they start to spend it on things they’ve always wanted, and a lot of times those small concessions end up being something like a Prada purse or jacket that they’ve seen so often on their walk to work at their deadbeat office job that all of a sudden has them thinking about shopping at the big boy stores.
Also another big thing that changed Prada forever during the mid 1990s was that they launched a Men’s clothing line that also appealed to middle class men, and they started to see that as they garnered up more and more clothing lines and apparel products, the more clothing sales accounted for their overall sales accounting percentage. In 1994 clothing sales were around 20% of Prada’s overall margins, and for them that was something that was really huge, but not as huge as winning ‘designer of the year’ award in 1995. By 1996 Prada had 40 worldwide locations, but what was so cool about Prada and their locations were that 20 of their locations were solely in Japan.
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