Lorenzo Bertelli to be executive chairman of Versace We finally have more news about the acquisition of Medusa by the Prada Group.
After the news that the Prada Group had completed the acquisition of Versace, which came out last April but is still awaiting final approval, things seemed to have calmed down at Prada headquarters. That is, until yesterday: Lorenzo Bertelli, son of the founders of the Group, Miuccia Prada and Patrizio Bertelli, as well as current Chief of Marketing and Head of Corporate Social Responsibility of the company, stated that he will be the executive chairman of Versace. Adding that the brand's acquisition is about to be completed, Bertelli spoke about his upcoming role in an episode of the podcast Quello che i soldi non dicono by Bloomberg News and Chora Media.
A slow, relationship-driven strategy to relaunch Versace
«We have a clear idea of how to leverage the experience gained by expanding Miu Miu,» said the Prada heir regarding the work that will be done at the helm of Versace. Even though, as he himself mentioned, it will take time before the new direction shifts into the right gear. «First, you need to get to know groups of people, talk to them, chat, have coffee together,» he added, implying that the brand’s relaunch will be a long, slow, and thoughtful process from every point of view, including hiring and repositioning.
Bertelli's role confirmed by Andrea Guerra
Bertelli’s statements on the Bloomberg News podcast were anticipated by Andrea Guerra, CEO of Prada, who at a BoF conference said: «Lorenzo would like to have a more executive role in Versace's journey, not that of CEO but more similar to that of an executive chairman.» Thus, it will be the Prada-Bertelli heir who will take the reins of the Medusa, a bold choice for a Group that in recent years has carried out a strategy envied by the rest of the fashion industry.
The Prada Group’s triple bet
The investment in Versace – an acquisition that will cost Prada a full €1.25 billion – represents a triple bet: the Medusa brand has been one of the hardest hit by the industry crisis, with revenues down 15% in just the first quarter of 2025 and a quarter of total revenue lost in the last two years. Although the company was acquired at a lower-than-expected price – initially the sum reached €1.6 billion – this is still the largest investment ever made by the Prada Group.
The Group still needs to finalize the acquisition, but it is already involved in the brand’s relaunch. Dario Vitale, head of image at Miu Miu, is the new Chief Creative Officer of the Medusa following Donatella Versace’s departure. We have already seen Vitale’s artistic vision for the brand, while we will have to wait a little longer to discover the face Lorenzo Bertelli will give the company from a commercial and strategic point of view.
