Prada Expands Milan Flagship Into Eight-Level Luxury Hub

Prada has renovated and expanded its historic presence in Milan’s Galleria Vittorio Emanuele II into an eight-level destination combining menswear and womenswear, art, hospitality and private shopping. The two boutiques, including the site of the original Fratelli Prada store founded in 1913, are now connected by an underground passage featuring archival material, silver-plated bags reworked by Damien Hirst and the “Chandelier” dress worn by Carey Mulligan in The Great Gatsby. The complex also links to Prada-owned Marchesi pastry shop and includes a permanent exhibition space, appointment-only shopping areas and an apartment for private dinners and events. Prada expects the project to generate about €100 million in annual revenue, though it has not disclosed the renovation cost. The overhaul reflects luxury brands’ growing focus on wealthy clients and experiential retail as broader demand softens, while Prada says it will preserve relatively accessible entry-level pricing through exclusivity, personalization and craftsmanship.