What’s next in the Prada succession saga? Miuccia will remain co-creative director with Raf Simons, with Andrea Guerra confirmed to be CEO before Lorenzo Bertelli eventually takes over
Andrea Guerra is set to be confirmed by the board next month as the new CEO, succeeding Patrizio Bertelli, who will stay on as chairman. The move is intended as a step toward ultimately handing the reins of Prada Group to Bertelli and Miuccia’s son, Lorenzo Bertelli. The younger Bertelli now oversees digital marketing and sustainability.
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“This is a fundamental step we have decided to undertake, while completely engaged in the company, to contribute more to the evolution of the Prada Group, and to ease the succession of Lorenzo Bertelli, the future leader of the group,” Patrizio and Prada said in a statement.
Guerra, 57, is one of Italy’s highest-profile executives and his long-time experience in a family-run company – serving for a decade as CEO at Luxottica before owner and founder, the late Leonardo del Vecchio, took back day-to-day operations following disagreements – is likely reassuring to Prada Group CEO Patrizio.
Prada denied that bringing on Simons in 2020 was a move designed to set up the creative succession at the fashion house specialising in luxury handbags, footwear and understated apparel. Still, speculation started anew after the Belgian designer announced last month that he is closing his eponymous fashion brand after 27 years.
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Besides the Prada and Miu Miu fashion houses, the Prada Group also includes the footwear companies Church’s and Car Shoe, as well as the pastry shop Marchese with 627 stores in 70 countries.
Prada trades in Hong Kong, where shares closed down 2.33 per cent just before the announcement was made.
- The Italian fashion brand began charting a line of succession on its business side while confirming that Miuccia Prada will continue in her creative roles alongside Belgian designer Raf Simons
- Andrea Guerra is set to become new CEO, succeeding Patrizio Bertelli who will stay on as chairman; meanwhile, Lorenzo Bertelli currently oversees digital marketing and sustainability