Who is CEO of Prada? Details explored as luxury fashion brand acquires its rival Versace for $1.4 billion

Andrea Guerra, the CEO of Prada, is guiding it into fresh territory. The Prada Group has officially finalized a $1.375 billion cash acquisition of Milan-based competitor Versace, bringing together two powerhouse luxury identities under one umbrella. 

This merger links Versace’s bold flash and iconic sensuality with Prada’s experimental, “ugly chic”, unconventional style - the playful, trend-driven energy of Miu Miu, marking a major shift in Italy’s high-fashion landscape and signaling an aggressive new era of consolidation in the luxury market, as reported by AP.

Prada seals takeover of Versace, setting the stage for a bold new chapter in luxury fashion

The big deal between Prada and Versace is now complete - ending months of wait. Experts say this could breathe new life into the flashy Italian name after shaky times under Capri Holdings. A short press note confirmed it's official, thanks to green lights from regulators.

Meanwhile, Capri Holdings said they’ll use the cash to pay off loans. There was emotion too: Donatella Versace posted on Instagram, linking the day to her brother Gianni’s birthday, calling it a heartfelt start with Prada. Lorenzo Bertelli, part of the Prada lineage, will lead Versace forward; he doesn’t expect quick shake-ups but sees untapped strength worldwide. 

Donatella Versace wrote:

"Happy Birthday, Gianni. Today is your day and the day Versace joins the Prada family. I am thinking of the smile you would have had on your face. I miss you, always."

Right now, things sync up nicely with fresh ideas rolling out by designer Dario Vitale, whose debut show just dropped at Milan Fashion Week.

Besides carrying real-world impact and deeper meaning, picking up Versace links it directly into Prada Group's growing web of Italian workshops - fueled by big-money upgrades in skill-building, modern spaces, and output strength. This step shows Prada believes Versace can pick up speed again, retaking a key spot in culture just as high-end fashion moves past quiet styles and leans back into bold looks rooted in legacy.

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