Gianfranco d’Anttis, CEO of the Italian luxury brand Prada, will settle his position on June 30th. This was confirmed by the Prada Group on Sunday to the AFP news agency and reacted to a report by the Women’s Wear Daily specialist magazine (WWD). Andrea Guerra, CEO of the Prada Group, takes over the tour of the brand.
As WWD reports, “disagreements about the strategy” are said to have led to the resignation of d’Asttis. The announcement was made in the middle of the Men’s fashion week, just a few hours after the presentation of the latest Prada collection.
The Prada brand generated 68 percent of Group sales in the first quarter, but recorded a slight decrease of 0.2 percent compared to the same period last year. The MIU Miu brand belonging to the group contributed 31 percent to total sales and, in contrast, was significantly increasingly growing.
Despite the decline in the main brand, the total turnover of the Prada group grew by 12.5 percent in the first quarter compared to the previous year. At the beginning of April, the company also announced the takeover of the competitor Versace from the US group Capri Holdings. The deal has a volume of 1.25 billion euros ($ 1.37 billion). The merger of two iconic Italian brands creates a new luxury giant that will in future be in direct competition with French industry leaders such as LVMH and Kering.
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