It was recently announced that Miuccia Prada, as well as her husband Patrizio Bertelli, will be stepping down as co-CEOs of the iconic brand.
Although many saw it coming, the shift in leadership within the company still left us with a lot of questions.
Why did they step down? Will Miuccia Prada still serve as co-creative director of Prada, and sole creative director of Miu Miu? Who will replace her? Luckily, we do not seem to be left in the dark.
Why is Prada Stepping Down?
The decision seems to be based in something as simple as trying to ensure the comfort of their investors.
This isn't a sudden decision, and isn't due to any sort of external pressure. Ultimately, Prada, the brand, seems to be wanting to assure their investors of the brand's flexibility. Andrea Guerra has already been named as a leader, and he will be fully stepping into the role in 2023, and there is another CEO position that has yet to be filled.
Will Miuccia Still be the Creative Director?
Up until now, Mrs. Miuccia Prada has been wearing many many hats within the company. Co-CEO, co-creative director, and sole creative director of subsidiary Miu Miu. Although she has stepped down as CEO, it has been confirmed that she is to continue her role in both Prada and Miu Miu as creative director.
I think that this is a very good decision for both companies, as both have seen a massive resurgence in their popularity in recent years. It seems that Prada's design presence is quite the positive influence.
Who is Andrea Guerra?
Andrea Guerra is a big name in the European business world. He formerly worked with Luxottica, Eataly, and most recently LVMH, as the leader of their hotel division, so he clearly knows his way around luxury consumerism.
The Italian business man has seen great success everywhere that he has been, and should be a wonderful edition to Prada's team. I think that Guerra will be able to do wonders for the business aspect of the brand.
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