In a surprising shake-up at the top, Gianfranco D’Attis is stepping down as Chief Executive Officer of luxury fashion house Prada after a little more than two years in the role. The Prada Group stated in a press release on March 28, 2023 that D’Attis’s departure came at an important time as the Prada Group was undergoing a broader strategic transformation and amid a marked slowdown in brand growth.
Prada CEO Resignation Reflects Market Strain
הצגת פוסט זה באינסטגרם
In the press release, the Prada Group stated that D’Attis’s resignation “was a mutual decision”. D’Attis will step down as CEO at the end of the month, with group CEO Andrea Guerra temporarily taking over the responsibilities of the Prada brand until a new permanent replacement for D’Attis is found.
The leadership shake-up comes in the middle of a key period for the Prada Group, as they are preparing to complete the purchase of Italian luxury brand Versace, with the transaction looking to close in the second half of 2025. The Prada Group is reporting a 17% increase in revenue for 2024 year-over-year, but the Prada brand was unable to maintain its pace. Sales in Q1 2025 came in lower than expected, with meaningful growth reported otherwise little or no growth.
Meanwhile, Miu Miu, Prada Group’s junior brand, has had outstanding development in recent quarters, with an aggressive expansion into other markets. The contrast in brand development — and the high expectations for the Prada brand – might have contributed to the shake-up, although the Prada Group has not stated more than the short resignation statement.
D’Attis, who began his role with Prada in January 2023, has a varied career in luxury, including senior roles with Christian Dior. His leadership of the Prada brand has included recovery from COVID and now navigating new market headwinds, most notably in Asia, which presents the evolution of consumer behavior trends over the last several years.
In the press release, the Prada Group confirmed Andrea Guerra, who has been group CEO since 2023, has assumed responsibility for leading the Prada brand during this interim period. The Prada Group stated it was important to solidly unify its leadership, especially in the next several months, while it completes the acquisition of Versace.
D’Attis’s exit is not inconsistent with recent leadership changes in luxury houses, including Dior, Balenciaga, Celine, and Chanel. Industry pressures continue to mount in luxury fashion, as shifts in consumer spending habits, inflation uncertainty, and increasing global competition from other luxury brands continue to evolve.
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