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 owned eight factories and subcontracted work from 84 other manufacturers in Italy. Miuccia's Prada and Bertelli company were merged to create Prapar B.V. in 1996. The name, however, was later changed to Prada B.V., and Patrizio Bertelli was named Chief Executive Officer of the Prada luxury company. In 1997, Prada posted revenue of US$674 million. Another store in Milan opened that same year. According to the "Wall Street Journal", Bertelli smashed the windows of the store a day before the opening, after he had become deeply unsatisfied with the set-up. Prada also acquired shares in the Gucci group, and later