If you’re interested in fashion, you’ve probably heard of Prada, the Italian fashion house that’s been producing luxury goods since the beginning of the 20th century. But did you know that Miuccia Bianchi Prada, the company’s CEO and founder, is a billionaire?
Patrizio Bertelli
The Prada Group is an Italian luxury company. Patrizio Bertelli is the group’s chief executive officer.
Patrizio Bertelli, an engineer by education, was the executive director of a luxury leather firm when he was hired by Miuccia Prada, a fashion designer. After working together for a number of years, the two married. Since then, Bertelli has become a major supplier to Prada, advising on product lines and expanding Prada’s offerings.
Patrizio Bertelli has been with the Prada Group since 1978. In addition to overseeing the company, he is also a member of the Camera della Moda, a business group dedicated to the fashion industry.
The company’s growth has been fueled by acquisitions and by leveraging brands. Its IPO in 2011 raised $675 million. Recently, Prada has acquired an 8.5 percent stake in Church’s & Co. and a majority stake in Italian eyewear manufacturer De Rigo.
Recently, Prada teamed with L’Oreal for a long-term license agreement for the creation and distribution of luxury beauty products. This partnership will start on January 1, 2021.
Besides designing and selling clothing, footwear, and accessories, Prada is responsible for the creation of its own Made in Italy production chain. As the company’s vertical integration becomes more important, the future looks bright for Prada.
Bertelli’s wife, Miuccia Prada, has continued to expand the company’s business. She is also the creative director of both the Prada and Miu Miu lines. Her net worth is estimated at US$4.8 billion in October 2021.
Miuccia Prada
As the co-CEO of Italian luxury fashion company Prada, Miuccia Prada has been an important figure in the industry for more than five decades. She was also instrumental in helping to make Prada into the worldwide luxury brand it is today.
Currently, Miuccia Prada is the CEO of Prada Group, a company with several brands including Prada, PradaMiu, and Church’s. Her company has earned a reputation for its minimalist designs. During the 1990s, the company launched a number of spin-off clothing lines and footwear collections, among them, the eponymous Prada. It also made some high-profile acquisitions. One of these was the acquisition of men’s shoe brand Church’s.
Another notable occurrence was the company’s initial public offering (IPO) in Hong Kong in 2011. The IPO raised over $2.14 billion, making Prada one of the most successful fashion companies of the decade. However, the share price fell by almost a fifth due to weak retail demand.
Miuccia Prada and her husband Patrizio Bertelli have two sons, Gianni and Francesco. They have also been known to be involved in political circles. The duo was members of the Italian Communist Party in the seventies and were also involved in the women’s rights movement in Milan.
Although the name Prada has been around for more than a century, the brand is still going strong. In 2011, Miuccia Prada and Bertelli took the company public. The IPO was a big success. A number of top-notch executives were hired to help the brand to a successful succession.
Gianfranco D’Attis
The Prada Group is a Hong Kong-listed Italian fashion group. It owns some of the most prestigious and expensive luxury brands in the world. They manufacture leather goods, shoes and ready-to-wear collections, as well as eyewear through licensing agreements. As such, the company employs over 13000 people in 70 countries. This week the group announced a succession plan for its executive leadership.
Gianfranco D’Attis will take over the helm of the company’s flagship brand Prada as chief executive officer. Previously, D’Attis has held senior managerial positions in both the international and the luxury retail sectors. His background is particularly strong in retail, and he will use this expertise to help the company boost its growth potential.
He also holds a bachelor’s degree in business administration from the Zurich Graduate School of Business Administration. D’Attis has held numerous international director and management positions at companies including IWC Schaffhausen and Jaeger-LeCoultre. In addition, he attended the Columbia Business School in New York.
The Prada Group also announced that it has licensed its fragrance business to the L’Oreal Luxe division. Last year, Jake Gyllenhaal was chosen as the face of the company’s blockbuster scent, Prada Luna Rossa Ocean.
Prada has also unveiled a new logo for its Miu Miu and Prada labels. The new design is a simple take on the previous design, and will be rolled out across the company’s entire portfolio.
Daniel Lee
Daniel Lee, who was recently named Burberry’s new chief creative officer, is no stranger to luxury fashion. He has served as a design director at Donna Karan, Balenciaga, and Celine.
His work experience has been predominantly rooted in womenswear, but he also has a background in menswear. As a former head designer at Bottega Veneta, he brought fresh designs to the brand.
He will make his debut as Burberry’s CCO on February 20th at the upcoming London Fashion Week. The brand plans to reinvigorate its British sensibility with Lee’s direction. This should make its products more desirable for consumers.
Akeroyd has experience with transforming established brands like Versace and Alexander McQueen into profitable businesses. His plan for Burberry is to double the label’s revenues to PS5 billion.
The designer will be based in Burberry’s headquarters in London. During his time at the company, he will oversee all of the brand’s collections.
He will report to Burberry’s new CEO, Jonathan Akeroyd. Both he and Daniel Lee are looking to emulate Gucci’s CEO Marco Bizzarri. They both plan to develop accessories and grow the brand’s accessories sales.
Despite the brand’s troubled past, Bottega Veneta is ready to take a new step forward. The house’s signatures have been reimagined in a variety of ways. Specifically, the Intrecciato weave has been reinterpreted into a square texture. It is featured on colored leather and a bright orange dress.