Prada buys Milanese retail company Fratelli Prada

The Prada group has bought the Fratelli Prada company for €66 million. The operation enables the luxury group to control directly the label's monobrand stores in Milan, which are operated by Fratelli Prada via a franchising contract.

Among the stores involved, the flagship in Galleria Vittorio Emanuele II, where Prada was founded in 1913. Payment for the operation will be in instalments, ending in 2021.

Fratelli Prada operates two Prada stores in via Montenapoleone, the historic flagship in Galleria Vittorio Emanuele II and a store in via della Spiga, whose premises it also owns. The shareholders of Fratelli Prada are Bellatrix SpA and Miuccia Prada.