Prada is reportedly planning to invest €60 million in 2023 to expand its production capacity and strengthen its supply chain.

Reportedly, a significant amount of this investment will go towards expanding the company’s knitwear factory in Torgiano. The company is also looking at acquisitions of manufacturers, and Industrial Director Massimo Vian said that a leather goods acquisition is unlikely as that is where the group’s strengths lie.

Around 10% of Prada clothing is produced in-house, with 30% of its leather goods produced internally and 50% of its footwear. Increasing these numbers will be the focus of the investment.

Source: Reuters