Wang Wen: Why Does China Not Have A Decent Luxury Clothing Brand?

With the outbreak of the global financial crisis, Prada had a very difficult time.

Despite huge debts, the Prada family has no intention of selling shares.

As of July 2010, the Prada family still held 94.89% of the stock.

Prada has been seeking for several years.

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Luxury goods always focus on the place of origin, even if the process of globalization makes the place of origin fade away. But in the field of luxury goods, the place of origin still plays a key role in the brand, and the premium it brings is quite amazing.

Consumers can tolerate Prada for designers, but they are very resistant to it becoming "MADE IN CHINA".

Therefore, even changes in product labels will cause a fatal blow to the sale of luxury goods.

To a certain extent, "MILANO" and "1913" are Prada's best brand endorsements.

In the eyes of consumers, Milan, like Paris, is the pilgrimage of global fashion makers, and the number of brand names indicates that it has lasted for decades.

At the same time, every acquisition of the garment industry is accompanied by the loss of designers. If the company is successful, it will not be an exception.

Designers are regarded as the soul of Prada. If the support of top designers is lost, the Prada acquired by Prada is just a body without soul.

Moreover, Prada is a family business with a history of nearly 100 years, and its internal relationship is complicated.

In fact, as long as the Prada family has absolute control power, people will not have any doubt about Prada's quality and taste. As long as this foundation is in place, Prada will have the possibility of revival.

But if control is given to the Chinese, this foundation will no longer exist.

Luxury brands from abroad often take two years from concept, design, testing to promotion, and Chinese are accustomed to copying others' success quickly by copying shortcuts.

Driven by the idea of quick success and instant benefit, Chinese entrepreneurs rarely settle down, create brands and endow them with brand culture and mission.

Against such a backdrop, if the company takes over Prada, its future will be dim.