Prada plans to invest €60 million in its supply chain and increase production at its knitwear factory in Torgiano, Umbria. The Reuters news agency reported on Thursday about the Italian brand’s plans.
The capital injection is intended to help improve the facilities and modernize the technologies. In addition, Prada aims to purchase smaller factories to increase competitiveness and increase production.
In 2018, Prada operated a total of 21 company-owned manufacturing facilities, 18 of which were located in Italy. Investments in the last five years have increased the number of production sites to 24. Most employees work in leather goods and shoe production.
Prada plans to hire an additional 400 people by the end of 2023 to strengthen its manufacturing capabilities and sustain growth. The group currently employs 3,240 people at its production sites. 63 percent of them are women.
This translated post previously appeared on FashionUnited.com.