Lorenzo Bertelli, the 37-year-old son of Miuccia Prada and Patrizio Bertelli, is ready to take the reins of Versace as soon as the €1.25 billion acquisition announced last April closes. The transfer of the brand founded by Gianni Versace from Capri Holdings to Prada is not far off. The closing could take place as early as the end of the month, and at that time Bertelli will be named executive chairman.
Prada Group CEO Andrea Guerra previewed the new leadership structure, speaking at the Business of Fashion Voices 2025 event in Oxfordshire. "I think Lorenzo would love to have a more executive role in Versace's journey—not as CEO, but more as executive chairman," Guerra said, then tried to play it cool: "We'll see, but he'll certainly be much more involved in the Versace journey." Lorenzo, currently head of Corporate Social Responsibility at Prada Group, made the announcement official.
In an interview on the Bloomberg podcast "What Money Can't Tell," he confirmed that he will be appointed to the new role once the acquisition closes . "When we ask around about Versace's global reach, it's always among the top five names mentioned worldwide," Lorenzo Bertelli recalled. "So the brand is much bigger than its current revenue, and we are always ready to take on difficult missions, like trying to restore the company to the greatness of its brand."
Although Versace is far from its heyday in the 1980s and 1990s, purchasing the brand was a "strategic choice" for the Prada group. "We discussed it at length within our family before making this decision," he explained in the podcast. "We have clear ideas on how to leverage the experience gained from the expansion of Miu Miu," Bertelli Jr. added, referring to the brand's success, which appeals to younger customers, the true driving force behind the Milanese fashion house's growth, even more than the historic Prada brand.
The relaunch challenge is not without risks, especially since the Versace style is far removed from the tastes of Generation Z consumers. On the other hand, the acquisition makes Prada one of the largest Italian luxury companies, a move that goes against the grain of what has happened so far with giants LVMH and Kering, which have snapped up Made in Italy fashion brands.
