I was there at the end of April, and it's definitely worth the trouble to find it! It's off the A1 autostrada about 50 minutes outside Florence, in the town of Montevarchi on Strada Statale, and not at all easy to find - don't believe the various shopping guidebooks that claim "it's just off the highway!" It's about 3 miles down twisty-turny streets off the highway. We were lucky to have a GPS device, so after a few wrong turns we were able to find the place (it's a huge warehouse) tucked back behind a bunch of industrial buildings off the street. Many hotels in Florence either have or can tell you about special tour busses that take customers there for about 20 Euros roundtrip, which is probably a good deal if you don't have a GPS or are not enthused about finding it via car. It's probably easy to take the train there from Florence and then a cab to the store too - everyone in Montevarchi seemed to know where it was!
Once there, the store itself is gorgeous - just like a
Prada boutique and staffed with slick SAs all in Prada. If the store is busy, you have to take a number and then can only enter the building when your number is called. Otherwise you're given a number when you enter the building, and then every item you decide you want is held at the front desk under your number. You give your number when you're ready to check out and they have all your purchases at the desk ready to ring up.
I must say, the selection is fabulous. They have Womens' & Men's handbags, shoes, accessories, luggage and clothing, all one to three seasons behind - I saw lots of the degrade bags from A/W 07, loads of Tessuto leather, many of the basic Prada & Miu Miu leather styles and most of the basic Prada nylon styles, as well as the quilted nylon bowlers. The prices I saw were mostly less than half of retail. They carried some Jil Sander stuff along with Prada and Miu Miu.
I purchased a canvas & leather Prada satchel for 370 E ($560) and a leather Miu Miu convertible tote/clutch for 400 E ($615), as well as two pairs of sandals - most were from 50-70 E ($90 - $125).
If you're brave enough, continue up the A1 autostrada toward Florence another half-hour or so to The Mall in Leccio Regello, featuring outlet shops for Fendi, Yves Saint Laurent,
Gucci, Lora Piana, etc. The YSL shop in particular had many Downtown and Muse totes for about 500 - 600 Euros.
http://www.themall.it/
I highly recommend going to either if you have the chance!