Prada CEO Gianfranco D’Attis is set to depart the luxury fashion house by mutual agreement on 30 June, after two and a half years at the helm. His exit comes as the company navigates increasingly challenging market conditions and prepares for a significant acquisition, with Prada Group CEO Andrea Guerra stepping in as interim successor.
Leadership shake-up at Prada: CEO Gianfranco D’Attis to exit
Gianfranco D’Attis’s departure from Prada, confirmed on the day of the brand’s Spring/Summer 2026 show, marks a significant leadership change for the luxury giant. His tenure saw the company achieve a record year in 2024, with revenues climbing 17 per cent to €5.4 billion on a constant currency basis, surpassing analyst expectations. This growth was largely propelled by the remarkable performance of Miu Miu, which saw retail sales surge by 93 per cent in the same period, now accounting for 25 per cent of the group’s total business.
Miu Miu’s meteoric rise and Prada’s plateau
While Miu Miu has been a powerhouse for the Prada Group, the flagship Prada brand experienced more modest growth of 4 per cent year-on-year. More recently, Prada’s sales were flat in Q1 2025, missing analyst consensus. Miu Miu’s growth, though still strong at 60 per cent in Q1 retail sales, has begun to normalise after doubling sales every quarter in 2024. This normalisation, coupled with the flat performance of the main Prada brand, may have contributed to the decision for a leadership change as the group adapts to a more demanding market.
Strategic pressures and an uncertain outlook
The leadership transition also coincides with Prada Group’s ambitious plans to acquire Versace, a deal announced in April and expected to close in the second half of 2025, pending regulatory approval. This acquisition will add further strategic pressure on the group. Andrea Guerra, Prada Group CEO, has acknowledged the challenging environment, describing the current period as ‘irregular times’ and suggesting that the market may have reached its ‘lowest plateau’. Guerra will now be tasked with steering the core Prada brand through these turbulent waters until a permanent successor for D’Attis is appointed.
Key takeaways
- Gianfranco D’Attis will exit as Prada CEO on 30 June by mutual agreement.
- Andrea Guerra, Prada Group CEO, will serve as interim CEO for Prada.
- Prada Group had a record 2024, driven significantly by Miu Miu’s exceptional growth.
- Prada brand sales were flat in Q1 2025, and Miu Miu’s growth is normalising.
- The leadership change occurs amidst challenging market conditions and the planned acquisition of Versace.
Sources
- Prada CEO Gianfranco D’Attis to exit, Vogue Business.
