Large-scale acquisitions are not on the horizon for the Prada Group, according to the luxury company’s chief executive Andrea Guerra.
Speaking to Financial Times editor Roula Khalaf at the FT’s Business of Luxury summit in Venice, Guerra said the Milan-based group was not seeking to acquire competitors such as Armani or Versace, and was instead focused on growing its existing brands including Miu Miu and Church’s.
“We are focused on our brands,” he said. The group, like other luxury labels, has recently snapped up local suppliers, including buying a just under 44 per cent stake in Superior, a Tuscan tannery, in 2022. “Most of the world’s fashion luxury apparel is made in Italy so anyone who is intelligent would be thinking [of acquiring suppliers].”