Prada’s sales have climbed a whopping 9% this year.
The reason for their smashing success?
The luxury handbag maker has been limiting selling its product through wholesale channels, reports Kyle Stock at Bloomberg Businessweek.
Instead, Prada opened 79 retail stores around the world this year.
Apple is most famous for adopting this strategy, according to Businessweek.
“The theory, perhaps best refined by Apple, is that a company with a particularly strong brand can benefit by controlling as much as possible about where and how its products get sold — and to whom,” Stock writes. “Selling via a staff that it trains, in a store it designs, insulates such companies and their customers from increasingly mall-like department stores and potentially surly salesmen.”
By controlling how and where their bags are sold, Prada is ensuring that the customer experience is impeccable.
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