Prada heir to head Versace after buy-out
The Peninsula
Milan, Italy: The son of designer Miuccia Prada, Lorenzo Bertelli, said Wednesday he will become executive chairman of Versace following the Prada Gro...
Milan, Italy: The son of designer Miuccia Prada, Lorenzo Bertelli, said Wednesday he will become executive chairman of Versace following the Prada Group's takeover.
Prada announced in April it was buying Versace from US group Capri Holdings for 1.25 billion euros ($1.4 billion).
Bertelli, currently Prada's group chief marketing officer and head of corporate social responsibility, confirmed his role at Versace in an interview with a Bloomberg podcast.
He said the buy-out of Versace, whose lustre has faded in recent years, was a "strategic choice".
"The brand is much bigger than its revenue," he said.
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