MILAN — Prada SpA has signed a new sustainability-linked, five-year loan with UniCredit banking group for a total of 90 million euros.
Prada has invested in reducing production waste in clothing, leather goods and footwear and it is now committed to transferring these waste materials to third parties for their introduction into other production cycles, either through their regeneration or conversion into fertilizers or energy. “Sustainability is becoming a key competitive factor for businesses as it increasingly informs the choices of consumers and investors,” said Alfredo De Falco, head of corporate and investment banking, Italy, of UniCredit. “UniCredit is amongst the leading banks in Europe with regard to financing solutions linked to ESG objectives, which can effectively support the transformation of companies’ business models.