Prada buys a slice of Pasticceria Marchesi, a Milanese pastry shop
Milanese fashion house Prada has finally got a bite of the cake business as it acquires an 80 per cent stake in 190-year-old patisserie Pasticceria
Let them eat panettone! That’s what we imagine the big wigs at Prada Group HQ were saying as the deal confirming an 80 per cent acquisition in Pasticceria Marchesi was closed.
The 101-year-old fashion house is pleased to invest in another Milanese institution, albeit one famed for the contents of its bags as opposed to their exterior. Since 1824, Pasticceria Marchesi has served the people of Milan with its revered pastries and chocolate from its premises on Corso Magenta.
A Prada statement revealed that the investment in Angelo Marchesi Srl ‘seeks to promote and assure the strategic strengthening of the brand within a series of future development projects, both within Milan – in the new Prada spaces in the Galleria Vittorio Emanuele II – and internationally’.
Just last year the Prada Group lost out on acquiring Cova Montenapoleone SpA, the holding company of another deluxe patisserie in Milan, to luxury conglomerate LVMH. The two powerhouses went head to head in the bun fight, with Prada claiming it was engaged in talks with its previous owners, the Faccioli family, to take control of the Cova café on Via
Patrizio Bertelli, managing director of Prada SpA and husband of Prada and Miu Miu creative director Miuccia, said: “Marchesi represents a symbol of Milanese excellence and I am happy we have stipulated this agreement with the family that founded the historic brand. Our goal is to collaborate in an effective manner in its development and in full respect of its tradition”.
We wonder if that will signal lots of Florentines and biscottis backstage at the Prada show…