SWEET TOOTH: Prada has acquired an 80 percent stake in Milan’s storied Pasticceria Marchesi pastry shop. Founded in 1824, the coffee and bakery house, controlled by Angelo Marchesi Srl, occupies the first floor of an 18th-century building in the city’s posh Magenta district. The acquisition of the pastry shop is in line with Prada’s expansion strategy in Milan. The company, which is financing the restoration of the Galleria Vittorio Emanuele, along with the Versace brand, has recently opened a new men’s boutique in the prestigious shopping arcade, which will also host Fondazione Prada’s exhibition space.
Last year, Prada tried to buy Milanese coffee shop Cova on Via Montenapoleone, which was acquired by LVMH Moët Hennessy Louis Vuitton at the end of June. The fashion house engaged in a legal battle with Cova’s former owner, the Faccioli family, contending rights to the Cova brand. According to sources, Milan’s courthouse rejected Prada’s request to sequester the label.
This story first appeared in the March 17, 2014 issue of WWD. Subscribe Today.