For Prada CEO, Knock-Offs Really Not That Bad
May 25, 2012 - by Lester Brathwaite
While counterfeiting has been the bane of many a fashion house's existence -- the recent trademark infringement case between Gucci and Guess being a prime example -- Prada CEO Patrizio Bertelli sees a silver lining.
"Fake goods arent totally bad, at least it created jobs at some counterfeit factories, Bertelli said in a Bloomberg television interview on Thursday. We dont want to be a brand that nobody wants to copy.
Such sentiment may come as a surprise from one of the top 10 most valuable luxury brands in the world, and unsurprisingly warranted some elaboration. A Prada spokesman used the oft-popular "taken out of context" excuse, telling WWD, The quote is part of an extended conversation that underscored how the market of counterfeits is an objective reality for successful brands and how this phenomenon has its own reality, also in terms of manufacturing, that is very structured.
Imitation is considered the sincerest form of flattery, after all. [WWD]