Prada CEO Lorenzo Bertelli said the luxury fashion brand is considering further acquisitions after its takeover of the Italian fashion house Versace.
Bertelli did not rule out potential interest in Giorgio Armani, which has been in the spotlight since the founder and namesake passed away in September.
In Armani’s will, he stated that heirs must gradually sell the fashion house or seek a listing, starting with a 15% stake within 12 to 18 months of his death.
Bertelli’s interest in Giorgio Armani comes as Prada prepares to finalise its US$1.4 billion acquisition of Versace, marking the largest purchase in Prada’s 112-year history.
In an interview with Reuters, Bertelli said if opportunities arise, he would look at them, but said Prada’s current focus was on returning Versace to its former glory.
Bertelli said the acquisition of Versace was a “strategic choice”.
“The brand is much bigger than its revenue,” he said.
“We like difficult missions so we are trying to bring the business back to the greatness of the brand that it once was.”
Following the buy-out, Bertelli will become executive chairman of Versace.
The acquisition also positions Prada to become one of Italy’s biggest luxury firms and counter a trend of Italian fashion groups being acquired by foreign groups.
The company has been boosted by the Miu Miu brand, which recorded a 93% boost in sales in 2024 and Versace, reporting about $821 million in annual revenue. This is despite Versace's sales falling 20% last year.
