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Prada CEO Gianfranco D’Attis will exit the brand, the company confirmed on Sunday, the day of the brand’s Spring/Summer 2026 show. The executive will exit the company ‘by mutual agreement’ on 30 June, after two and a half years at the helm. He will be succeeded on an interim basis by Prada Group CEO Andrea Guerra.
Prada Group has weathered the luxury slowdown better than the majority of luxury companies. 2024 was a record year for the group, with revenues up 17 per cent to €5.4 billion on a constant currency basis in the year ended 31 December 2024, beating analyst consensus by 2 per cent. Growth has been buoyed by Miu Miu: retail sales grew 93 per cent for the brand in the same period and it now represents 25 per cent of the group’s business. Prada – while much bigger – grew 4 per cent year-on-year during the same period.
The Prada brand’s sales were also flat for Q1 2025, missing analyst consensus by 1.74 per cent. And Miu Miu’s growth has started to normalise, with Q1 retail sales up 60 per cent (the company doubled sales every quarter in 2024) which may have stimulated the leadership shake up, as the group adjusts to increasingly challenging market conditions. Furthermore, in April, Prada Group announced its plans to acquire Versace, which will add more strategic pressure to the group’s plate. The deal is expected to close in the second half of 2025, subject to regulatory approval.
In Prada Group’s most recent earnings call, CEO Andrea Guerra warned of ‘irregular times’ ahead. “For sure, this last almost 24 months has not been easy, and recently, I would say that maybe we have reached [our] lowest plateau,” he said. Guerra will have to steer the group’s flagship brand through these challenging times, until a successor is named in due course.
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Prada Group sales reach ‘plateau’ in Q1
