Prada Returns to Minimalist Roots for 1st Joint Collection

FILE PHOTO: The Prada store is shown in Las Vegas, Nevada, US, January 17, 2020. REUTERS/ Mike Blake/File Photo
FILE PHOTO: The Prada store is shown in Las Vegas, Nevada, US, January 17, 2020. REUTERS/ Mike Blake/File Photo
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Prada Returns to Minimalist Roots for 1st Joint Collection

FILE PHOTO: The Prada store is shown in Las Vegas, Nevada, US, January 17, 2020. REUTERS/ Mike Blake/File Photo
FILE PHOTO: The Prada store is shown in Las Vegas, Nevada, US, January 17, 2020. REUTERS/ Mike Blake/File Photo

Miuccia Prada went back to her trademark minimalist style for her first collection with Belgian designer Raf Simons, who joined the Italian fashion group as co-creative director in February.

The pair's Spring/Summer 2021 women's show was streamed live on Thursday for Milan's fashion week, where most collections are being presented digitally and without audiences due to coronavirus social distancing rules.

"It's a really strange situation," Prada said in a video after the show, where she and Simons answered questions from people around the world.

"But we have the occasion to really show the clothes, we can't see the real people, the public, but at least we hope you can enjoy and see the clothes better."

Models wore mostly black and white or pastel-colored vests, trousers and long skirts in simple, monochrome designs which Prada said were inspired by the idea of uniforms. Many clothes had round-shaped holes cut out of the fabric.

"Clothes are pared-back, refined, focused, without superfluous decoration: shell tops, straight pants, overcoats in industrial re-nylon," the brand said in a statement.

Simons, 52, said he had never expected to be, one day, co-designing a collection with Miuccia Prada, but that he was "extremely happy" with the result.

"Maybe it's harder as you have more dialogue, and that can also impact on the timing, but all in all I find it easier," he said when asked what it was like to jointly create a collection.

"Decision-making for me is strengthened when I know that Miuccia likes very much what I also like very much. Even if I am convinced, my decision is strengthened when I know that she too is convinced."



Second-Hand Clothes App Vinted Reports Jump in Revenue and Profit 

Vinted plans to expand into more countries in 2025. (Getty Images)
Vinted plans to expand into more countries in 2025. (Getty Images)
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Second-Hand Clothes App Vinted Reports Jump in Revenue and Profit 

Vinted plans to expand into more countries in 2025. (Getty Images)
Vinted plans to expand into more countries in 2025. (Getty Images)

Vinted, an app where users buy and sell second-hand clothes, reported a 36% increase in revenue for 2024 on Tuesday and said it more than tripled its net profit, as more shoppers opt for cheaper used items instead of new.

Vinted has benefited as inflation-weary European consumers slashed their spending on clothing, and looked for new ways to make money by selling their own unwanted items.

Founded in Lithuania in 2008, Vinted reached profitability for the first time in 2023. It was valued at 5 billion euros ($5.69 billion) in a secondary share sale in October last year.

Vinted plans to expand into more countries in 2025, having launched in Croatia, Greece, and Ireland last year for a total of 22 markets in Europe.

Vinted started letting users buy and sell second-hand electronics on the platform in 2024, and said it would add more categories, though it is still mainly known for clothing.

Revenue for 2024 was 813.4 million euros ($925.89 million), up from 596.3 million euros in 2023, while net profit jumped 330% to 76.7 million euros.

Lithuania's first "unicorn", a term for a privately-held company with a valuation exceeding $1 billion, Vinted said it is launching an investment arm, Vinted Ventures, aimed at funding other second-hand retail startups.

Vinted Ventures will offer funding of between 500,000 euros and 10 million euros to Series A and Series C stage companies.