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How much does Miuccia Prada earn?

Spoiler: a lot

How much does Miuccia Prada earn? Spoiler: a lot

Prada SpA is preparing for a shareholder meeting to vote on some changes to the corporate board and, to do so, had to file an official notice on the Hong Kong Stock Exchange, where it is currently listed, listing the proposed members for the renewal of the board. Inside this notice, however, interesting information is hidden that is not normally disclosed to the public such as, for example, how much Miuccia Prada earns. The salaries of designers (but Miuccia is also CEO of the company and other shareholders of the Prada Group such as Bellatrix SpA and Ludo SpA) are often among the best kept secrets of the fashion world and approximate figures emerge only in cases of lawsuits, as happened for Hedi Slimane, or in official documents where you can not help but declare your earnings in black and white. According to the contents of the notice, Miuccia Prada's annual salary for 2020 consisted of 9.08 million euros; bonuses and incentives for 27,000 euros and a figure intended for pension, healthcare, contributions and TFR equal to 24,000 euros. Her husband Patrizio Bertelli has the same remuneration.

The document comments saying that «the remuneration of Ms. Prada was determined taking into account her strategic role, particularly in creative design concepts and styles, brand communication and advertising campaigns and the importance of her management and her role as chief executive officer and executive director that have contributed to building the group’s financial performance and track records». Among the other innovations that emerged from the notice there is also the entry into the Board of Directors of Miuccia and Patrizio Bertelli's son, Lorenzo Bertelli, who has so far dealt with the group's communication strategy and the development, innovation and sales analysis of the retail channel for all prada group brands.