The house of Prada is another well-known Italian fashion label that has a lot of retail outlets worldwide. The company was originally known as "Prada Brothers" in Italy was founded by Mario Prada in 1913 in Milan. And then, in 1978, Miuccia Prada, who was Mario's granddaughter inherited from her grandfather a leather goods business. She then worked on the expansion of the company into clothing that were of a more bohemian style. Later on, Miu Miu was created as her second line of clothing. This label usually has simpler pieces which evoked a continual image of items that were high-end vintage. It was then followed by 'Linea Rossa' or the Prada Sport. Today, Prada is seen to be one of the clothing designers that have proven to be most influential in the fashion industry.

Prada followed the lead of the other companies in absorbing as many fashion houses as possible that are in the market. It took significant debts as it acquired the house of Fendi which has been financially floundering in the early 1990s. The shares of Fendi for the LVMH company were also assumed by Prada. However, it was unable to support or turn around the financially challenged Fendi label and so, later on, sold the Fendi shares to LVMH. Up to today, Prada is still trying to recover from this debt.

Other notable purchases made by the Prada Group were the Jil Sander and Helmut Lang and labels. However, by 2006, both labels were sold - Jil Sander to Change Capital partners, which was a private equity firm and Helmut Lang to Link Theory, which a Japanese fashion company.