Prada to close 25 stores in 2016
Following negative financial reports in the past year, Prada has embarked on a restructuring plan. In 2016, Prada announced it will close 25 stores (among the least profitable ones) and will open 20 new stores in high-potential locations. The first store closure was one of the Prada stores in Milan – the 500 sqm store on Corso Venezia. The Prada currently operates 5 stores in Milan, two in Galleria Vittorio Emanuele, two on Via Montenapoleone and one on Via Spiga.