Fashion
Prada CEO Says He’ll Hand Over Top Job to Son Within Three Years
- Succession plan is part of Bertelli’s standalone strategy
- Revenue to rise about 40% in next four to five years, CEO says
Prada SpA Chief Executive Officer Patrizio Bertelli plans to put his son Lorenzo in charge of the Italian fashion company within the next three years, a generational shift aimed at keeping the business under family control.
“Lorenzo has the right attitude” for the job, Bertelli said in an interview at the sprawling Prada Foundation compound in Milan. Lorenzo, 33, is the son of Bertelli and Miuccia Prada, who’ve worked together since the 1970s to transform the Milan-based company into one of the world’s most prestigious fashion groups. “It will be up to him to decide” when to take over, Bertelli said.