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  "documentTitle": "The State of Fashion Luxury",
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      "text": "We believe working on the cultural aspects of society is essential for our two brands to survive in the long term.",
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      "text": "Chief executive Andrea Guerra discusses how Prada and Miu Miu — luxury’s ‘cultural brands’ par excellence — continue to outperform the market, what’s behind the slowdown in luxury demand and an industry outlook for 2025.",
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      "text": "The brand is staying in the spotlight with fashion shows that continue to spark conversation online, as well as cultural activations like literary talks, pop-up bookshops and a multi-layered art installation that served as the backdrop for its latest runway and a series of performances during Art Basel Paris. “We believe working on the cultural aspects of society is essential for our two brands to survive in the long term,” the group’s CEO Andrea Guerra says. The group’s flagship Prada brand has also continued to grow, although at a more moderate pace, at a time when rival luxury giants LVMH and Kering are reporting slipping sales.",
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      "text": "After years of struggling to parley its fashion authority into topline growth, Prada Group reported its best-ever year in business in 2022. Since then, it’s continued to outperform rivals, reporting surging sales even as the broader luxury market slowed, entering a downturn in 2024. Miu Miu, which has powered much of the group’s recent growth, roughly doubled its sales throughout most of last year with a re-tooled offering of subversive yet wearable designs that have succeeded in engaging a broad sisterhood of shoppers, spanning ages and nationalities.",
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      "text": "The brand has raised prices — dramatically in some cases — but has yet to be punished by customers, who continue to splash out on both seasonal items and bestsellers like its Galleria tote bag and nylon rucksacks. Guerra — who previously led Luxottica, Eataly and LVMH’s hospitality division — is Prada Group’s first chief executive from outside its founding family. He’s piloted the Milanese fashion empire since 2023 as it seeks to make progress on its succession plans and keep outperforming competitors in a rocky luxury market.",
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