Prada Investor Day Presentation Deck
November 2021, 99 slides
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group | Prada
agenda group vision for long term growth industrial operations excellence control of distribution and customer experience commitment brand brand communication customer and digital innovation financial performance update paolo concluding remarks | Prada
chief executive officer group vision for long term growth | Prada
covid accelerated luxury market evolution growing new demographics enlarging values morphing geographies growing ecosystem gen as of market local spending as of market as of market ethics aesthetic excellence cultural and creative responsibility human touch | Prada
new success factors are emerging growing new demographics enlarging values morphing geographies growing ecosystem reinforce cultural relevance for diverse customer communities elevate to the whole value chain and in dialogue with customers consolidate agility and speed demonstrated through covid upgrade customer engagement in a relational and continuative way reinforce creative excellence keep treating all customers as locals everywhere when international tourism will restart | Prada
group decisive action to navigate change increased product content quality and uniqueness adapted pricing accordingly eliminated strengthened control of direct distribution developed a fully integrated commerce platform invested in supply chain streamlined manufacturing processes invested in communication and distinctive initiatives for the group and its brands increased focus on invested in human resources and new talent festival campaign | Prada
decisive steps have delivered tangible results retail revenue well above levels share of full price sales represents almost totality of retail revenue gross margin steadily above since penetration at of retail revenue retail network productivity above level margin above level strong cash flow generation glow pop up a | Prada
group purpose drivers | Prada
drivers of growth identified group distinctive vision style quality and product uniqueness focus on direct distribution industrial know how and vertical integration increased commitment to investment in people and technological infrastructure | Prada
group distinctive vision the group has a thoughtful and pioneering vision of fashion at a time of significant cultural and societal change luxury needs to continue evolving coherently with the market our dialogues and fluid perspectives continually reinterpret luxury by being relevant sustainable and we will drive long term growth fashion show | Prada
style quality and product uniqueness continue to increase the value of our product balanced growth across product categories maintain a broad price architecture continuing to increase average price | Prada
focus on direct distribution direct channels for high quality customer experience and engagement increase productivity of retail network grow space selectively in markets with higher potential and lower penetration double penetration and deliver superior channel journeys | Prada
industrial know how and vertical integration consolidation and further investments in vertical integration complexity reduction to accelerate growth improved process control and product excellence further reduction and improved service level to stores and pop ups state of the art and sustainable sites | Prada
increased commitment to vision for sustainable growth embracing planet people and culture bold climate strategy high profile experts to join company board garden factory | Prada
investment in people and technological infrastructure people and technological infrastructure as key enabler focus on diversity and fresh perspectives hire and nurture new talents new best in class technology and architecture allowing advanced capabilities and strategies | Prada
medium term targets revenue target margin target revenue medium term target medium term target | Prada
chief executive officer control of distribution and customer experience | Prada
direct channels focus delivering results physical retail channel mix evolution retail network renovation relocation projects customer experience enhancement pop up stores as of sales density in above level despite during first part of the year penetration at of retail revenue in in seamless channel integration and channel customer journey wholesale wholesale | Prada
looking ahead physical retail focus on retail productivity targeting increase in sales density selective future openings in targeted geographies and continued roll out of pop ups and special in store installations in high visibility locations doubling commerce presence with retail sales penetration as medium term target full transition from store centric to warehouse centric model enhance data capabilities for customer strategies and of operations wholesale highly controlled distribution | Prada
physical stores as brand hub unique store concept delivering brand vision store as brand enhancer communication tool and home of the brand epicenter stores narrating the brand through architecture new york epicenter | Prada
physical stores as brand hub distinctive flagship store experience located in the most relevant locations globally human touch at the core of physical retail experience epicenter | Prada
global network of iconic stores epicenter read tou | Prada
global network of iconic stores a a | Prada
sales density growth within reach traffic pop up and special installations store a key in the channel journey focus on to relationship across touch points reinforce traffic building categories and selected collaborations take licenses to full potential conversion increase content quality and uniqueness across all categories sales assistant role evolving into client advisor evolve the client experience centering it on the store team role further client advisor empowerment through technology to client relationships group sales density | Prada
expansion and of retail network united states wealth distribution and demographics have changed significantly in recent years central and west regions driving growth rise of secondary cities as luxury san expected to remain a key growth engine unlock potential opportunities in the region network park | Prada
retail director brand | Prada
creative dialogue and | Prada
influence from product through retail concepts to ideology thinking fashion that inspires thought brand product intelligence and curiosity reinvented luxury superlative and leather black nylon linea cup sneaker customer sophisticated and culturally and socially engaged even interested in sports ness | Prada
ness radicalism challenging convention pushing boundaries changing outlooks campaign | Prada
ness authenticity is honest and real with a view universally valued and connected with the present | Prada
ness duality is never one thing designs always represent a dialogue creating paradoxes that are bold and fresh fashion show | Prada
brand journey today | Prada
today key highlights net sales exceeded product mix in line with target growth across product categories all above levels sustained growth in the and middle east improving trends in driven by strong local demand strengthened direct channel net sales evolution in by product by geography by channel | Prada
strategic levers for growth brand product customer maintain fashion and cultural leadership grow across categories maintaining a balanced product mix over accelerate on customers pool driving market growth gen china us while consolidating the core consolidate strong awareness leveraging brand pillars leverage offer architecture strengthening top items continue focus on retail across the channel journey marketing investment into digital and experience to sustain and convert customer focus lead conversations and purpose driven communication leverage ness to develop community invest in iconic products and newness launch new categories beauty fine jewelry home take linea to full potential take to full potential continue innovating engagement model increase human touch impact deliver inspiration and discovery experience | Prada
pioneering fashion show formats the event format highlighted understanding of the importance of luxury brands breaking new boundaries to engage with a community it was like watching a living conversation unfold between past and present one designer another and this time one country and another that one way to couple up the new york times fashion show | Prada
enhanced brand resonance women fashion show synchronous views the first ever simultaneous fashion show to be shown in two cities at once in earned engagement high growth in video views earned engagements across and fashion weeks video views | Prada
growing brand awareness traffic search effectiveness fans growth on bucket hat challenge most successful challenge in the luxury sector a week after launch views since | Prada
brand heat leadership brand value according to best global brands ranking best performing brand in luxury searched women product brands according to index top | Prada
cross generational brand credibility polyhedric product heritage classic modernity sportswear fashion vanguard | Prada
combining past present and future campaign holiday campaign | Prada
linea blending luxury and high performance sportswear | Prada
fragrances and beauty partnership with or launched in luna ocean launched in objective to double global market share by on fragrances medium term ambition to build a global beauty house by adding make up and | Prada
eyewear partnership with since ambition to strengthen group position as leading group in luxury eyewear through innovation and focus on product development in sun and optical segments ensuring a close alignment with other core fashion categories campaign | Prada
general manager brand | Prada
unique and instinctive vision is the place where i am completely myself when i realize that when i want to do even more to really concentrate to inject more passion more of what i like is immediate reflects a unique and instinctive vision a unique story an emancipation journey campaign by weber | Prada
the heartfelt point of view of brand universe of exploration unconventional with a point of view empowering women product immediate breaking the rules irreverently sophisticated customer rebel and empowered brave and free a community | Prada
our journey key milestones today is founded as an experimental alternative expression of personal vision the first opens in via in followed by and new york soho lands to the fashion week and opens first store in china an outpost of modern femininity is a global total look brand launches its first women tales the first club in and the first select by is unveiled | Prada
today key highlights net sales evolution in strong performance in and middle east well above level outstanding performance in ready to wear double digit acceleration in accessories strengthened channel mix with full price retail sales improvement and triple digit growth robust and gen customer base by product by geography by channel | Prada
strategic levers for growth brand product customer the club of empowered women the wardrobe for the club that meets the now a club nurturing new generations strengthen awareness across segments and nationalities drive understanding of distinctive identity and value proposition create buzz and sustain desirability lead the conversation in fashion on women identity and club maintain strong point of view true to brand consolidate strong performance on accelerate accessories rebalance sales mix leveraging iconic products and codes cover all offer segments categories occasions price points delivering seasonal drops and special projects expand reach through communication and footprint boost organic retail and digital scale to increase customer retention and value deliver a playful and experimental customer journey consistency across all the | Prada
pioneering fashion show formats at delivered one of the and most exciting fashion statements of the season business of fashion stands with a new generation intent subverting norms and inventing new ones on its own terms magazine fashion show | Prada
enhanced brand resonance show an unprecedented digital collaboration the physical and virtual spaces of the show were punctuated with works by artist exploring intimate relationships mediated through the camera in earned engagement engagement growth across channels earned engagements during fashion week views women show women show live streaming on engaged to watch the virtual show | Prada
growing brand awareness traffic search effectiveness fans growth on | Prada
creating buzz through special projects by vintage dresses by collaboration with fashion show collaboration with new balance group | Prada
coherently articulated offer close to brand | Prada
seamless execution across all product categories | Prada
brand identity consistently implemented adda | Prada
the future of turnaround on track bearing fruits is a priority for the group planned communication investments in the next years product strategy that meets the now seasonal drops and special projects coherence with brand and gen recruit and nurture the customers of the future | Prada
group marketing director head of corporate social responsibility communication customer and digital innovation digit no sated | Prada
winning customers in an evolving luxury landscape increased investment in communication boosted by digital to grow awareness consideration and conversion focus on customer centricity and human touch across the entire customer enhanced capabilities and skills to make the more effective in bringing to life and identities accelerated digital transformation channel scale up and channel customer approach big data leverage and technology investment | Prada
communication boosted and digital media investment accelerated relevant increase in communication investment more than proportional increase of digital related spending focus on purpose driven communication through partnerships luna strong leverage of local and global celebrities and constant investment in emerging platforms | Prada
customer centric and focus human touch full potential evolution customer at the at scale | Prada
human touch focus delivering significant improvement the human touch primary driver than any other customer experience growing across and retail experience drivers relative strength sept net promoter score sept | Prada
evolution in client engagement supporting revenue growth digitally empowering client advisors to bring clients relationships to full potential retail revenue customer view from multiple data sources rich digital content to share with clients driven recommendations task suggestions to drive customer loyalty full integration with marketing ecosystem | Prada
winning over the key customers and revenue average customer value trend a a yrs | Prada
four pillars to drive digital acceleration channel channel data technology it architecture further scale up the channel fully enable channel customer journeys leverage data full potential transform through best of breed solutions applications | Prada
doubling sales within reach sales evolution target | Prada
global footprint with channel model a global footprint pure channel stock management approach with hybrid model order warehouse stores china tailored approach to local digital ecosystem brand sites reach mall full potential expand consolidate other platforms | Prada
on the road to seamless brand experience channel pillars state current state and onwards single customer view fragmented data across systems client profiling consolidation data enrichment and customer journey activation piloting of real time customer journeys full leverage of real time orchestration of advanced customer journeys channel experience channel services in additional channel services in new customers digital gateways to bridge and physical | Prada
developing at scale through advanced analytics and technology data acquisition data mining data leverage transactions behavior client advisor interactions insights stock data leveraging platform to manage big data processing and to identify revenue opportunities dedicated in house analytics group years formulation of a dedicated customer strategy through data driven insights leveraging advanced analytics for operational excellence at a store stock level | Prada
transformation launched sales channel enhancement new commerce architecture and enhanced front end and content management applications further evolution of systems data lake client management applications evolution of physical store cash systems and applications optimizing store operations while enabling new digital scenarios channel full enablement integrated channel approach for order management product stock availability and pricing unlocking multiple channel scenarios industrial management systems evolution and consolidation of group systems other systems applications | Prada
industrial director industrial operations excellence | Prada
industrial operations excellence as competitive advantage consolidation and further investments in our industrial vertical integration complexity reduction to accelerate growth improved process control reduction and improved service level to stores and pop ups new state of the art distribution | Prada
consolidation and further investments in industrial vertical integration expansion of own manufacturing capabilities organic growth in plants in in young apprentices from academy in in further vertical integration with strategic acquisitions invested in planned investments in and scouting for further opportunities recent investments woman bags plant complete renewal further investments in knitwear manufacturing renewal of church factory | Prada
complexity reduction to accelerate growth obsessive attention to new models positioning both for and strong simplification of collection architectures across all categories key advantages more targeted marketing and communication effort higher sell through overall reduced inventories industrial cost efficiencies number of styles launched to average production batch shoes raw materials used | Prada
improved process control driving product excellence internal production target internal activities samples production leather goods cutting total internal assembly bags shoes quality control on finished product warehouse management external production further selection of external manufactures of manufacturers audited of manufacturers ended | Prada
further reduction improved service level to stores and pop ups key advantages increased ability to react to market change new products higher precision in store delivery dates essential for pop ups success carry over products faster means possibility to assort in season and gain extra business a further tool to manage inventories and to a cash position | Prada
new state of the art distribution logistic hub | Prada
new distribution completed will be fully operational by total surface commerce dispatching time sales days total investment leed certification and solar panels savings year produced year today target potential handling volumes up to units shipped year fully single shift operated | Prada
directly owned industrial sites garden factory | Prada
group marketing director head of corporate social responsibility commitment | Prada
aligning our business with our values we are focusing on the development of initiatives capable of best representing values and those with which i can personally relate in my desire to take into a decade decisive for its sustainable growth | Prada
board level commitment to a sustainable business growth at the heart of the group goals head of corporate social responsibility became board member in may strategy approved by board of directors robust engagement of the whole in the group journey board of directors training on matters both in terms of risks and opportunities committee to be established by mid garden factory | Prada
governance strength new board members for advancement anna maria | Prada
agenda impacting across group we commit to shape our operations to reduce our footprint mitigate our impact on climate change preserve the ecosystems embrace circular thinking we commit to an inclusive creative and fair workplace we commit to share our values and to build a sustainable society champion diversity and promote inclusion foster creativity and know how preservation ensure and fair workplace contribute to cultural debate further literacy inspire scientific evolution with partners we commit to engage with our partners to strengthen our paths drivers | Prada
climate strategy road to net zero greenhouse gases emissions reduction targets approved by science based targets initiative aligned with business ambition for emissions scope and emissions scope road to net zero | Prada
other significant updates materials innovation champion diversity and promote inclusion further literacy full conversion to nylon confirmed by end of leather certified leather working group by fast transition to full sustainable industrial packaging significant progress on i agenda valuable initiative update on launch of the second phase of sea beyond the educational dedicated to ocean preservation in partnership with | Prada
chief financial officer financial performance update | Prada
acceleration in retail sales growth organic growth acceleration by geography growth acceleration by category | Prada
gross and margin improvement gross margin evolution margin evolution gross margin increase in due to product channel and country mix margin already above pandemic level driven by gross margin improvement savings implemented across all cost areas during covid | Prada
retail acceleration retail sales organic growth further retail acceleration on a years stack driven by full price sales continuing outstanding growth strong triple digit in strong sales momentum continuing in to date | Prada
recent trends by geography retail sales organic growth by region retail trends improving trend driven by strong local demand with travel slightly picking up continuously strong performance in spite of pacific very solid double digit growth notwithstanding renewed covid restrictions in august japan trends still impacted by restrictions middle east further strength | Prada
further improvement in profitability and cash generation further gross margin and margin improvement in strong cash generation supported by further net working capital improvement net financial position close to zero at the end of campaign | Prada
drivers of gross and margin expansion retail productivity drive sales density within existing network with limited space growth increased the content quality and uniqueness of our products marketing strategy and continuous enhancement of in store customer experience retail target channel mix growth accretive to profitability growth in licensing business supply chain of inventory management process optimization and complexity reduction scale efficiencies operating leverage organic growth existing overhead platform scaled for growth | Prada
rigorous capital allocation policy at per year of which retail production and it selective openings in key strategic locations priority in and continued of existing retail network through renovations relocations vertical integration technology and it architecture transformation dividend policy to return to pandemic level | Prada
paolo concluding remarks | Prada
concluding remarks brands bigger than the business opportunity to increase revenue and profitability continued evolution investing for the long term strong partnership between and actions deliver results growth acceleration gross margin above margin on upward trajectory future strategy consistent with recent actions distinctive identity relevant exceptional products control of distribution and digital transformation industrial know how and vertical integration geared to retain enlarged base of domestic customers while capturing travelling consumers change in demographics bringing new opportunities confident we can drive long term growth in sales and profitability by being relevant sustainable and | Prada
a capital markets day group i | Prada
disclaimer | Prada
in partnership with we are pleased to announce that this capital markets day will be certified as carbon neutral under pas certification | Prada
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