MILAN (AP) 鈥� Prada heir Lorenzo Bertelli will have a major strategic role as executive chairman of Versace after the Prada Group completes its 1.25 billion-euro ($1.4 billion) to buy its rival, expected in the coming weeks, the Prada Group confirmed Thursday.
Bertelli, 37, has been previously announced as the future leader of the Prada Group, where he has been marketing director since 2019 and head of corporate responsibility since 2020. The elder son of acclaimed designer Miuccia Prada and Prada Group chairman Patrizio Bertelli joined the group in 2017 as head of digital communication.
Bertelli made the announcement about his next role on an Italian-language Bloomberg podcast Wednesday.
He said he doesn鈥檛 expect any big shake-ups at Versace at least for the first year after the acquisition is complete as he gets to know the company and its executive team. But he underlined that the 47-year-old fashion house founded by the late Gianni Versace has been underperforming its potential.
鈥淭he brand is much bigger than the revenue that it is generating,鈥欌�� Bertelli said, noting that Versace remains among the top global fashion brands.
The Prada Group announced in April the deal to buy crosstown fashion rival Versace from the U.S. luxury group Capri Holding, putting Versace鈥檚 sexy silhouettes under the same roof as Prada鈥檚 鈥渦gly chic鈥� aesthetic and Miu Miu鈥檚 youth-driven market.
Versace represented 20% of its current owner鈥檚 2024 revenue of 5.2 billion euros.
In a presentation on the deal last spring, Prada estimated that Versace would make up 13% of the Prada Group鈥檚 pro-forma revenues, with Miu Miu coming in at 22% and Prada at 64%. The Prada Group, which also includes the Church鈥檚 and Car Shoe brands, reported a 17% boost in revenues to 5.4 billion euros last year.
Copyright © 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
