History of fashion design second biggest-selling fashion brand (after LVMH) worldwide with US$7 billion worldwide of revenue in 2006 according to BusinessWeek magazine. In the 1990s the designer label Prada became a true creative force in the fashion industry. The Milanese company was first established in 1923, two years after Gucci, and like Gucci, it was a firm that sold high-quality shoes and leather. It was until the 1980s that Miuccia Prada, the niece of the company's founder, began to produce ready-to-wear fashion, gaining fame for her subtle, streamlined, yet unquestionably luxurious style, that catered for the privileged young woman who prefers understatement to
Prada Prada is facing an investigation after it was alleged the company avoided nearly £400 million in tax by transferring services abroad. Italy's "Corriere della Sera" newspaper said on Friday Prada and Bertelli had paid 420 million euros ($571 million) to Italy's tax agency to settle their tax affairs. Despite the settlement, an investigation continued. As of 2016, prosecutors requested the case be dropped as the debt had been settled. Prada Prada S.p.A. (; ) is an Italian luxury fashion house, specializing in leather handbags, travel accessories, shoes, ready-to-wear, perfumes and other fashion accessories, founded in 1913 by Mario Prada. The