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Prada S.p.A (PRDSF)
- Associated Press Finance
Prada focuses generational transition on artisans, expanding production and workforce in Italy
The Prada Group is expanding its production footprint in Italy, including dozens of new jobs at its knitwear factory in Umbria, leaning into “Made in Italy” as integral to the brand’s ethos and developing new artisanal talent to ease the luxury group through a generational shift in its workforce. Prada CEO Andrea Guerra, who was brought in last year as part of the generational change in family-run Prada’s management, said at an unveiling of the expanded plant Tuesday that the company is investing 60 million euros ($65million) in production this year. At Torgiano, Prada has added 30 new jobs this year, alongside 65 last year, bringing the workforce to some 220 employees, mostly women, to create knitwear for the Prada and Miu Miu brands, a key category for the group.
- Fortune
Heir to Prada’s billionaire owning family signals openness to acquisitions as luxury dynasties look to the future
“We have been and will always be open to considering opportunities,” Lorenzo Bertelli, heir of the billionaire Prada family, said.
- Reuters
Prada heir says group always looking for M&A opportunities
Italian luxury group Prada is always looking out for acquisition opportunities, Lorenzo Bertelli, son of the group's founders, said on Tuesday. "The Prada group is and will always be looking around for opportunities", Bertelli, who serves as Prada's marketing director, told reporters at a company event in Umbria, when asked whether the group was interested in acquiring Armani or other brands. WHY IT IS IMPORTANT Giorgio Armani told Bloomberg in an interview last month that he did not rule out a merger or a listing for its company in its succession plans, rekindling speculation about the future of the Italian fashion group.
