Prada has increased the frequency of creative projects in recent years, whether it is the short film Past Forward launched at the end of 2016, or the recent series of micro films Postman's Dream 2, the brand tells the story in the form of more vivid short films, but the aesthetic tone is more clear. Some analysts believe that for high-end brands, the more subtle and cautious the publicity, the more blurred the boundary between business and art, the more advanced it will be, so brands are now willing to get involved in micro films.
Patrizio Bertelli, CEO of the Prada Group, said that Prada has now formed a new team dedicated to the development of its digital strategy. Prada365 aims to change its traditional advertising strategy and build "a continuous stream of visual data," a full-dimensional platform that spans from print to the Internet and social media.
"Prada365" is no longer as rigid as a single advertising model released every season, the brand by integrating a series of different concepts, Settings, photographers and models work, the new product can be shot and released in a timely manner to the major platforms, the entire advertising process will be more free and flexible, and finally become a "24/7 rolling Prada".
Patrizio Bertelli said that in order to attract more young consumers, the group will pay more attention to the use of social media. He admitted that there are three times as many young luxury consumers as there are in the original market, and these are social media users, and the Prada Group needs to seize this opportunity.
At the same time, the launch of e-commerce in the Chinese market undoubtedly caters to the rising purchasing power of Chinese consumers, and also provides consumers with a more direct purchase window. In addition, Prada's product Renaissance in the past year has also provided product preconditions for e-commerce.
More and more luxury brands are struggling with issues such as whether to go younger, whether to choose e-commerce, and some are struggling with how to attract target consumers more effectively. In many cases, the main reason that hinders the digitalization of luxury brands is the contradiction between brand tonality and overexposure. However, with the proliferation of digital trends, overexposure seems to be less of an issue, and the most important thing is whether the content is creative.
Prada, perhaps closer to China than any European luxury brand, chose to list in Hong Kong and is starting to get back on track, with its shares up 20 per cent since the second half of the year and its market value now at HK $71.5 billion.
