Italian fashion label Prada’s chief executive is leaving his post.
On June 22, the brand confirmed that its CEO, Gianfranco D’Attis, will step down at the end of the month. Parent company Prada Group’s CEO, Andrea Guerra, will fill the vacated role on an interim basis.
Moving forward
The company’s first CEO from outside the Prada family is vacating his position after two and a half years, originally onboarding in January 2023.
Per WWD, brand representatives stated that the impending departure was by “mutual agreement.” Just weeks ago, Prada Group, which also includes Italian fashion label Miu Miu, revealed its first-quarter earnings rose by 13 percent, though the Prada brand’s intake remained flat (see story).
New leadership could help the maison accelerate its stagnant financial growth. Image credit: Prada Group
In April, Prada Group announced its acquisition of the iconic Milanese fashion house Versace in an approximately $1.375 billion all-cash deal; the agreement is expected to close in the second half of 2025, pending regulatory approval (see story). With the purchase, Mr. Guerra is betting on the “huge potential” of the label to propel earnings alongside Miu Miu.
Elsewhere in the luxury sector, companies are taking big swings in a bid to counteract the ongoing slowdown affecting all segments, from furnishings to fragrance. Earlier this month, French luxury conglomerate Kering’s CEO and chairman, François-Henri Pinault, announced he will step down from the former role in September, with Italian automotive executive Luca de Meo succeeding the tenured figurehead (see story).
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