Prada has created a new group marketing, communication and commercial development department. Stefano Cantino has been promoted to head the new endeavor. The label created this department to enhance the foundation of the business.
Cantino, 47, has worked for the company for some time. He joined the company in 1996 holding several managerial roles, then served as Communication and External Relations Director of Prada SpA since June 2009. Miuccia Prada and her husband are trusting that he will exceed expectations in his new role. He will be responsible for license management, marketing, communication and any new business. The more recent e-commerce site and wholesale department will also be his priority.
The label isn’t doing that bad. Prada has a return on asset (ROA) of 14.9 %, generating a profit of $14.9 on every $100 spent on asset. They also have a return on equity (ROE) of 28.7 %, generating $28.7 on every $100 dollars invested by stockholders.
Prada SpA recently negotiated a three-year loan agreement of 360 Euros to refinance a long lasting debt issue and drive retail growth. Cantino’s leadership with Prada just might prove that they still have what it takes to dominate the market. Only time will tell.