Prada SpA’s CEO Andrea Guerra has firmly stated that the renowned Italian fashion house is currently not seeking any major acquisitions. Instead, Prada is concentrating on nurturing and developing its existing brand portfolio. Guerra made these comments during a recent event in Venice. The broader Italian fashion sector is rife with speculation following Giorgio Armani’s recent hints about possible structural changes, including potential mergers or an IPO. This has stirred apprehension among Italian luxury firms, traditionally known for their independence and family control, as they face competition from more expansive French conglomerates like LVMH and Kering. While Guerra rules out immediate major mergers and acquisitions, he anticipates significant consolidation within the industry over the next several years. Prada has recently made strategic investments in smaller companies, indicating a preference for growing its scale through selective, smaller ventures.
Luxury Fashion, Mergers and Acquisitions, Manufacturing,Italy
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