Prada and Burberry are two of the world’s biggest names in the luxury fashion industry.
Both brands specialize in leather bags, shoes, ready-to-wear clothing, and accessories, and both brands cater to men and women. Prada is an Italian brand, while Burberry is a British brand.
Of the two, Prada products are generally more expensive than Burberry products.
Why Burberry Products Are Cheaper Than Prada Products:
While both brands are high-end luxury brands, Burberry products are cheaper than Prada products. This is because Burberry is not considered a designer brand. After all, it does not make products in different genres. Burberry’s target market is middle-class to upper-middle-class.
What Is The Cost Of A Prada Bag Vs. A Burberry Bag?
Prada and Burberry specialize in bags, particularly leather bags, and are known to be some of the best in the world regarding quality, design, and durability.
Throughout the years, Prada bags have been priced roughly between $1,000 to $10,000. The most expensive Prada bag ever was the Brandy Top Handle V2 which was priced at $10,200.
Burberry bags are within the same range but are less expensive than Prada bags.
Currently, the cheapest Prada bag is priced at $925, while the most expensive one is at $4,400. Meanwhile, the cheapest Burberry bag is priced at $830, and the most expensive one costs $3,990.
The cheapest Prada bag is the Re-Nylon Gabardine Yoke, which is essentially more of a belt with a pouch than a bag and is priced at $925. The cheapest handbag is the Woven Palm and leather tote, which costs $1,120, and the most expensive handbag is the Saffiano Leather Double Prada Bag which costs $4,400.
Meanwhile, Burberry’s cheapest is the Vintage Check Cotton Olympia Pouch, which costs $830, while the most expensive one is the Medium Needle Punch Canvas Lola Shopper Bag, a new release priced at $3,990.
There may be slight differences in the prices, but Prada is generally more expensive than Burberry, especially regarding bags.
What Makes Prada More Expensive than Burberry?
Prada and Burberry are known as luxury fashion brands. But why is one more expensive than the other?
Prada is a luxury fashion brand that has been around for over a hundred years. It was founded by Mario Prada in Milan, Italy, and is one of the most popular luxury brands in the world.
Burberry has been around for much longer, as it was founded in 1854 by Thomas Burberry in Basingstoke in southern England. Now it is headquartered in London, England.
Even though Burberry has been around longer than Prada, the latter is generally more expensive. Let us check the factors that contribute to the prices of products and make one brand more expensive than the other.
Brand Value:
The brand value would be the brand’s monetary value if the owner were to sell it. If the brand were to be sold to another entity, the brand value would be the amount it would pay so that you can use the brand’s name, logo, and identity.
Of the two, Prada has a higher brand value than Burberry. Prada’s brand value is $5.4 billion, while Burberry’s brand value is $4.1 billion.
Brand value is influenced by many factors, including the quality of the products, customer satisfaction, customer experience, marketing and advertising, customer loyalty, trust, and goodwill.
In general, Prada is slightly better than Burberry regarding the determining factors. This is why it has a higher brand value, making the products more expensive.
Target Market:
While both Prada and Burberry are luxury fashion brands that can be afforded by the wealthy, they have different target markets.
Prada’s target customers are those who belong to the upper middle class and those who are wealthy. These are people with an expendable income.
On the other hand, Burberry has a different target market. Yes, it does target the upper-middle-class and the wealthy, but it also targets those customers who are part of the middle class.
This is why Burberry has made its products more accessible and affordable to many people. Meanwhile, Prada tends to keep its customer pool limited and restrictive.
Prestige and Exclusivity:
Even though both brands belong in the luxury fashion category, a certain prestige comes with buying Prada bags. A lot of people see Prada bags as a status symbol.
Prada has an impression of being extravagant, so owning a Prada product can give you a certain status that shows people how wealthy you are for being able to afford one. The brand tends to be exclusive because not everyone can buy a Prada bag.
Prada is known for its design aesthetic, heritage, and relevance in luxury fashion. All of these things highly influence how expensive Prada products are.
Prada is more expensive because people are paying for the name.
Plus, many Prada items are limited even though there is a high demand for them. And in the basic rule of supply-and-demand in economics, the more the demand for a product is, the higher the price should be.
Does Burberry Or Prada Keep Its Value Better?
Both Prada and Burberry are known for their high-quality products that are well-designed and extremely durable. And because of this, products from these brands tend to keep their value well.
Comparing these two brands, Prada products tend to keep their value better.
Burberry bags can hold their value well. If you buy one now, you may be able to resell it for a reasonable price of 60% to 80% of its current value, which is still pretty good.
But if you compare it to other brands like Prada, Gucci, and Louis Vuitton, Burberry does not hold its value as well as these brands. Burberry bags are not as popular as these brands, so if you are looking for a bag that you could resell in the future, Burberry bags may not be your best option.
Prada products are known to keep their value well, especially bags. Some bag styles even increase in value, especially when they are popular and the stocks are very limited.
Prada bags generally have a resale value of 100% up to 122% of their original retail price. Meanwhile, Prada shoes and accessories can retain up to 100% of their value.
One example of Prada being able to keep its value better is the Re-Edition Nylon Mini Bag. When Prada launched this bag on the runway in Spring 2020, it had a retail price of $495. It became such a money-making hit for the brand that it was sold out wherever you checked. A year later, its retail price increased to $650 because of the incredibly high demand.
Currently, the Re-Edition Nylon Mini Bag retails for $1,250. So if you bought this bag a few years ago, you might be able to resell it now for around the same price or slightly lower.
Is Burberry Or Prada Better Quality For The Price?
Burberry products are known for their impeccable craftsmanship and high-quality materials. This brand has a really good reputation, which influences its high prices.
Prada products are also known for their beautifully-made designs using high-quality materials. Some materials used are patented by the brand, such as the Saffiano leather.
Both Prada and Burberry have good quality products for the price, and it is safe to say that these brands are on par with each other in this regard.
Both of these brands are reputable names in the luxury fashion industry as they manufacture and sell high-quality products that are durable and can last for years or even decades. Both brands offer products in classic and timeless designs that will never go out of style.
So whether you are planning to buy Prada or Burberry, both of them are worth it as their products can last very long, given that you take care of them properly.
To summarize, Prada is more expensive than Burberry. And while the price is an important factor to consider when buying something, you should also look at the quality, design, material, durability, and potential resale value.
Sources:
Prada Vs. Burberry Handbags – Which One Should You Choose?
The Definitive Guide To Burberry: Everything You Need To Know
Why Is Prada So Expensive? The 5 Reasons
List Of The 14 World’s Most Expensive And Leading Luxury Brands