Son set to take over Prada's billionaire empire says he's open to buying other ... trends now
Prada heir Lorenzo Bertelli has revealed he is considering making acquisitions to his 110-year-old brand.
'We have been and will always be open to considering opportunities,' Prada's second heir behind founder Mario Prada's granddaughter recently told Bloomberg while responding to questions about a rival's future.
To that, the 35-year-old declined to comment - as 90-year-old Giorgio Armani a few weeks ago raised eyebrows by saying he hasn't ruled out the idea of eventually selling his eponymous brand.
Both have managed stayed independent and family-owned, while establishing themselves as some of the most influential brands in global fashion.
Also Prada's head of social responsibility, Bertelli is the son of Prada majority owners Miuccia Prada and her husband, Patrizio Bertelli, who each serve as co-CEOs.
Prada heir Lorenzo Bertelli has said Tuesday would consider making acquisitions to his 110-year-old brand
'We have been and will always be open to considering opportunities,' Prada's second heir behind founder Mario Prada's granddaughter recently told Bloomberg while responding to questions about a rival's future.
In contrast, Armani owner Armani told Bloomberg last month that while hesitant, 'Independence from large groups could still be a driving value for the Armani Group in the future, but [he doesn't] feel [he] can rule anything out.'
That came from Italy's second-richest person, after the heir of the also family-owned Nutella empire, Giovanni Ferrero, 59. He has amassed some $6.6 billion in wealth over the course of 50 years.
His company is still doing well to, raking in roughly $2.6 billion in revenue in 2022.
That said, the CEO has long dismissed talks of retirement - keeping mum on the subject despite a great deal of interest.
A succession plan would see the brand he cofounded in 1975 likely handed either to his sister or three other family members working in the business, as well as long-term collaborator Pantaleo Dell'Orco.
With no children to pass it on to, there has been speculation about the long-term future of Armani's impressive empire - as is the case with the world’s largest, LVMH.
Like Prada, the French fashion firm is also family owned, still controlled by chairman and CEO Bernard Arnault, 75.
Four of his five kids have seats on LVMH’s board - with each in the running to take the reins when he steps down.
Also Prada's head of social responsibility, Bertelli is the son of Prada majority owners Miuccia Prada and her husband, Patrizio Bertelli, who each serve as co-CEOs.
Miuccia, 74, is Mario Prada's granddaughter - meaning the business is still family owned after more than a century
Pictured, Mario Prada, who opened the very first Prada store in Milan in 1913. He died in 1958, leaving Miuccia at the helm
Candidates would include fellow Italian firm Armani, founded nearly fifty years ago by Giorgio Armani (pictured in Rome in 2004)
However,
