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Le 5 janvier 2016, 04:24 dans Humeurs 0

Get Up To Speed On Prada In 5 Minutes It is a world leader in luxury goods operating the Prada, Miu Miu, Church's and Car Shoe brands. The company engages in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. Prada also licenses its brand to operators in the eyewear and fragrances sectors. Prada products are sold in 70 countries through a network of 570+ Directly Operated Stores and a few carefully selected luxury department stores, independent retailers and franchise stores.

PRDSY data by YCharts Prada's stock has gotten hamm ered (see graph above) since my prior bearish article because it was not able to live up to expectations. SSSG (SameStore Sales Growth) showed a high single digit decline in 2014, as the macroeconomic environment turned out to be more challenging than management expected. Asia slowed down considerably with luxury consumption affected by the antiextravagance campaign in China (performance in Hong Kong and Macau deteriorated significantly). The company also cited increased competition as a problem. In my previous article, I went into detail why I do not like to consider a strong brand as a competitive advantage; it takes a lot of capital to sustain a brand and these investments often do not result in outsized returns. Nonetheless, the company added 54 stores to its retail footprint in 2014, consisting of 32 Prada stores, 19 Miu Miu stores and 3 Church's stores.

PositivesWhether I think investing to maintain a brand is wise or not, customers do have a strong preference for the Prada brand. Some customers from Asia gladly travel great distances valentino shoes online to acquire the company's high quality products.

The company is majority owned and operated by CEO Patrizio Bertelli and creative director Miuccia Prada which I view as favorable to an investment. You can be fairly certain operators are highly incentivized to drive shareholder value. The balance sheet is extremely clean which limits the risk of an investment in Prada. The balance sheet is so clean that it leaves a lot of room to improve on the capital structure, especially in this low rate environment.


Prada valentino pumps traded at elevated levels when I first wrote about it as compared to a peer group composed of Coach (NYSE:COH), Michael Kors Holdings (NYSE:KORS), Polo Ralph Lauren Corp. (NYSE:RL), Tumi Holdings (NYSE:TUMI), Burberry Group PLC ADR (OTCPK:BURBY) and Euler Hermes Sa ADR (OTC:EURHY). That situation has remedied itself and it is now much more reasonably priced:

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Le 5 janvier 2016, 04:20 dans Humeurs 0

When Did Platform Shoes Become Popular

During the Heian Period in Japan (7941192 AD), a platformstyle sandal called the geta became a popular fashion statement among members of the Japanese nobility. The geta was crafted from a flat piece of wood that was raised off the ground by one or two small wooden blocks attached to the underside of the shoe. The soles were held onto the feet by a thong strap which sat between valentino shoes on sale the big toe and its nearest neighbor. Getas were created to lift the wearer high enough so that his or her kimono wouldn't drag across the ground.

The woodensoled geta sandals are still worn today during traditional Japanese ceremonies.

During the Middle Ages when the unpaved European roads were frequently grimy, wet and unsanitary, it was imperative for citizens to wear footwear that would keep their feet clean and protected. The patten was created for just this purpose. It featured an elevated platform sole cut from a thick wooden block. Leather straps attached to the sole held the patten onto the foot. Worn atop everyday slippers, men and women would carry these overshoes with them, throwing them on if a muddy situation arose. Also introduced during this era was the chopine, a fashionable gilded platform shoe worn by Venetian courtesans that often reached up to 30 inches in height.


The platform reemerged on the fashion scene during the twentieth century when shoe designer to the stars, Salvatore Ferragamo, unveiled his iconic rainbow soled platform in 1938. Platform heels and wedges remained popular throughout the 1940s but faded out of style by the end of the decade. They popped up again with a vengeance in the 1970s, when both disco denizens and glam rock followers took a shine to the elevated footwear, making them a symbol of the era. When 70s style was revived in the 1990s, so were platform shoes; with, most notably, valentino handbags the Spice Girls taking the reins of the trend.