Prada CEO Gianfranco D'Attis steps down
The role of chief executive officer was assumed on an interim basis by Prada Group chief executive officer, Andrea Guerra.
According to the US publication Women's Wear Daily (WWD), "disagreements over strategy" led to D'Attis' departure.
This announcement came during Milan Men's Fashion Week, hours after a Prada show.
Prada accounted for 68 percent of the group's turnover in the first quarter. However, unlike the younger brand Miu Miu (31 percent of the group's turnover), Prada saw a slight decline in sales in the first quarter (-0.2 percent).
The Prada Group, whose sales increased by 12.5 percent year-over-year in the first quarter, announced in early April the acquisition of rival Versace by the US group Capri Holdings for 1.25 billion euros. The merger of the two legendary Italian fashion houses created a group capable of competing with industry giants, such as French groups LVMH and Kering.(AFP) This article was translated to English using an AI tool.
FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
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