Prada’s chief government Andrea Guerra stated on Friday the Italian luxurious group has no additional acquisitions within the pipeline after the takeover of Versace, which is anticipated to be accomplished subsequent week.
“We’ll be fully engaged with Versace for at least three years,” Guerra instructed journalists on the sidelines of an occasion to have a good time the twenty fifth anniversary of the group’s academy.
The Versace deal is anticipated to shut on December 2, he stated, including that the Italian label enhances the group’s present manufacturers, flagship Prada and smaller Miu Miu.
“(Versace) is the brand that invented fashion as we know it today, the one that created glamour, introduced supermodels, brought fashion closer to popular culture… and brought music into fashion,” Guerra stated.
Prada signed a definitive settlement in April to purchase Versace from US-based Capri Holdings for about €1.3 billion.
Last week, Prada inheritor Lorenzo Bertelli stated the Italian luxurious group may take a look at additional acquisitions “if opportunities arise,” however burdened that there was nothing on the desk and the precedence was integrating Versace.
Guerra, who was appointed to the helm of the group in 2023, stated that the group goals to develop “at a pace faster than the industry”.
Asked concerning the affect of the US tariffs, he stated that “it’s behind us.”
By Elisa Anzolin
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