Latest news with #LorenzoBertelli
Fashion Network
27-05-2025
- Business
- Fashion Network
Zalando and CNMI name luxury 'changemakers', call out value of authenticity, quality
First those honorees. Francesca Bellettini, deputy CEO of Kering, was named in the 'Brand Vision' category and she emphasised 'proactive versus reactive approaches'. She shared her perspective on 'the distinction between a compelling brand vision and a good strategy and how to ensure a vision drives culture, innovation, and longevity across Maisons'. Meanwhile Prada Group chief marketing officer and head of corporate social responsibility Lorenzo Bertelli was recognised in the Innovation category. He talked about the group's 'diverse approach to innovation', including initiatives from the Sea Beyond programme dedicated to ocean literacy and R&D in the aerospace sector. Tod's Group president Diego Della Valle was hailed in the category Craftsmanship and emphasised 'the enduring significance of 'Made in Italy' for Tod's, highlighting its continuous evolution within a modernising industry'. He provided examples of how Tod's 'balances its rich heritage with contemporary advancements, integrating new technologies and materials while preserving its artisanal foundations'. Others honoured included Giuliano Calza, creative director of GCDS with the founders and creative directors of Sunnei, Simone Rizzo and Loris Messina in the New Gen category. They talked about the relationship between fashion and new generations 'thanks to the creation of cultural moments that go behind the runways'. They discussed 'the motivation behind their projects, the capacity of balancing creativity and commerciality and the importance of the designer's personality on the brand's identity'. As for the insights presented at the event, Bain 's top luxury expert Claudia d'Arpizio emphasised that brands 'need to reaffirm the foundations of luxury and intentionally shape the industry's future'. While the demand for luxury 'remains strong, its next frontier is yet to be uncovered,' she said. 'To seize this opportunity, brands must return to the fundamentals — anchoring their promise in quality, exceptional craftsmanship, and the power to inspire dreams, all while removing barriers to access. The true challenge for the future of this industry lies in reigniting the emotional pull of luxury for consumers, while deliberately transcending traditional business boundaries'. And she called out five key focus areas that include reshaping market boundaries through the blurring of spending between goods, services, and experiences; redefinition of competition by both incumbents and tech-fuelled insurgents; shifting customer behaviours; the evolution of the distribution landscape; and the need to safeguard the luxury supply ecosystem 'amidst uncertainty, volume reduction, and a growing focus on sustainability'. Highsnobiety founder and CEO David Fischer also presented the media brand's new white paper, Luxury Redefined: Stop selling the dream, start fitting into reality. The findings include 'the shift from aspiration to relevance, where cultural fit now outweighs the traditional dream-selling approach, and the renewed importance of product quality and craftsmanship over superficial marketing. Fischer emphasised the increasing value placed on legacy and archival storytelling, contrasting with the diminishing appeal of fleeting novelty'. He explained that the report shows 'a fundamental shift: 71% of core luxury consumers say the definition of luxury has changed in the last five years. Today's consumers seek cultural authenticity and tangible quality; they value brands that embed themselves in the real world with compelling legacy storytelling and immersive experiences, rather than betting on fleeting novelty. Luxury is moving decidedly from aspiration to relevance, from selling a dream to embracing reality'. Finally, Zalando's VP designer Lena-Sophie Roeper and director of product management Brian Kim, 'addressed the challenges facing the luxury sector, such as a perceived disconnect with customers and the evolving, non-linear paths to purchase'. They highlighted Zalando's 'commitment to innovation, not through technology as a standalone solution, but as an enabler of a holistic, seamless, and curated customer experience. Zalando showcased the solutions to bridge offline and online experiences and deliver personalised, immersive storytelling'. Roeper also said that 'the once captivating luxury space now feels fatigued, leaving customers yearning for deeper connection and meaning'.
Fashion Network
27-05-2025
- Business
- Fashion Network
Zalando and CNMI name luxury 'changemakers', call out value of authenticity, quality
First those honorees. Francesca Bellettini, deputy CEO of Kering, was named in the 'Brand Vision' category and she emphasised 'proactive versus reactive approaches'. She shared her perspective on 'the distinction between a compelling brand vision and a good strategy and how to ensure a vision drives culture, innovation, and longevity across Maisons'. Meanwhile Prada Group chief marketing officer and head of corporate social responsibility Lorenzo Bertelli was recognised in the Innovation category. He talked about the group's 'diverse approach to innovation', including initiatives from the Sea Beyond programme dedicated to ocean literacy and R&D in the aerospace sector. Tod's Group president Diego Della Valle was hailed in the category Craftsmanship and emphasised 'the enduring significance of 'Made in Italy' for Tod's, highlighting its continuous evolution within a modernising industry'. He provided examples of how Tod's 'balances its rich heritage with contemporary advancements, integrating new technologies and materials while preserving its artisanal foundations'. Others honoured included Giuliano Calza, creative director of GCDS with the founders and creative directors of Sunnei, Simone Rizzo and Loris Messina in the New Gen category. They talked about the relationship between fashion and new generations 'thanks to the creation of cultural moments that go behind the runways'. They discussed 'the motivation behind their projects, the capacity of balancing creativity and commerciality and the importance of the designer's personality on the brand's identity'. As for the insights presented at the event, Bain 's top luxury expert Claudia d'Arpizio emphasised that brands 'need to reaffirm the foundations of luxury and intentionally shape the industry's future'. While the demand for luxury 'remains strong, its next frontier is yet to be uncovered,' she said. 'To seize this opportunity, brands must return to the fundamentals — anchoring their promise in quality, exceptional craftsmanship, and the power to inspire dreams, all while removing barriers to access. The true challenge for the future of this industry lies in reigniting the emotional pull of luxury for consumers, while deliberately transcending traditional business boundaries'. And she called out five key focus areas that include reshaping market boundaries through the blurring of spending between goods, services, and experiences; redefinition of competition by both incumbents and tech-fuelled insurgents; shifting customer behaviours; the evolution of the distribution landscape; and the need to safeguard the luxury supply ecosystem 'amidst uncertainty, volume reduction, and a growing focus on sustainability'. Highsnobiety founder and CEO David Fischer also presented the media brand's new white paper, Luxury Redefined: Stop selling the dream, start fitting into reality. The findings include 'the shift from aspiration to relevance, where cultural fit now outweighs the traditional dream-selling approach, and the renewed importance of product quality and craftsmanship over superficial marketing. Fischer emphasised the increasing value placed on legacy and archival storytelling, contrasting with the diminishing appeal of fleeting novelty'. He explained that the report shows 'a fundamental shift: 71% of core luxury consumers say the definition of luxury has changed in the last five years. Today's consumers seek cultural authenticity and tangible quality; they value brands that embed themselves in the real world with compelling legacy storytelling and immersive experiences, rather than betting on fleeting novelty. Luxury is moving decidedly from aspiration to relevance, from selling a dream to embracing reality'. Finally, Zalando's VP designer Lena-Sophie Roeper and director of product management Brian Kim, 'addressed the challenges facing the luxury sector, such as a perceived disconnect with customers and the evolving, non-linear paths to purchase'. They highlighted Zalando's 'commitment to innovation, not through technology as a standalone solution, but as an enabler of a holistic, seamless, and curated customer experience. Zalando showcased the solutions to bridge offline and online experiences and deliver personalised, immersive storytelling'. Roeper also said that 'the once captivating luxury space now feels fatigued, leaving customers yearning for deeper connection and meaning'.
Fashion Network
27-05-2025
- Business
- Fashion Network
Zalando and CNMI name luxury 'changemakers', call out value of authenticity, quality
First those honorees. Francesca Bellettini, deputy CEO of Kering, was named in the 'Brand Vision' category and she emphasised 'proactive versus reactive approaches'. She shared her perspective on 'the distinction between a compelling brand vision and a good strategy and how to ensure a vision drives culture, innovation, and longevity across Maisons'. Meanwhile Prada Group chief marketing officer and head of corporate social responsibility Lorenzo Bertelli was recognised in the Innovation category. He talked about the group's 'diverse approach to innovation', including initiatives from the Sea Beyond programme dedicated to ocean literacy and R&D in the aerospace sector. Tod's Group president Diego Della Valle was hailed in the category Craftsmanship and emphasised 'the enduring significance of 'Made in Italy' for Tod's, highlighting its continuous evolution within a modernising industry'. He provided examples of how Tod's 'balances its rich heritage with contemporary advancements, integrating new technologies and materials while preserving its artisanal foundations'. Others honoured included Giuliano Calza, creative director of GCDS with the founders and creative directors of Sunnei, Simone Rizzo and Loris Messina in the New Gen category. They talked about the relationship between fashion and new generations 'thanks to the creation of cultural moments that go behind the runways'. They discussed 'the motivation behind their projects, the capacity of balancing creativity and commerciality and the importance of the designer's personality on the brand's identity'. As for the insights presented at the event, Bain 's top luxury expert Claudia d'Arpizio emphasised that brands 'need to reaffirm the foundations of luxury and intentionally shape the industry's future'. While the demand for luxury 'remains strong, its next frontier is yet to be uncovered,' she said. 'To seize this opportunity, brands must return to the fundamentals — anchoring their promise in quality, exceptional craftsmanship, and the power to inspire dreams, all while removing barriers to access. The true challenge for the future of this industry lies in reigniting the emotional pull of luxury for consumers, while deliberately transcending traditional business boundaries'. And she called out five key focus areas that include reshaping market boundaries through the blurring of spending between goods, services, and experiences; redefinition of competition by both incumbents and tech-fuelled insurgents; shifting customer behaviours; the evolution of the distribution landscape; and the need to safeguard the luxury supply ecosystem 'amidst uncertainty, volume reduction, and a growing focus on sustainability'. Highsnobiety founder and CEO David Fischer also presented the media brand's new white paper, Luxury Redefined: Stop selling the dream, start fitting into reality. The findings include 'the shift from aspiration to relevance, where cultural fit now outweighs the traditional dream-selling approach, and the renewed importance of product quality and craftsmanship over superficial marketing. Fischer emphasised the increasing value placed on legacy and archival storytelling, contrasting with the diminishing appeal of fleeting novelty'. He explained that the report shows 'a fundamental shift: 71% of core luxury consumers say the definition of luxury has changed in the last five years. Today's consumers seek cultural authenticity and tangible quality; they value brands that embed themselves in the real world with compelling legacy storytelling and immersive experiences, rather than betting on fleeting novelty. Luxury is moving decidedly from aspiration to relevance, from selling a dream to embracing reality'. Finally, Zalando's VP designer Lena-Sophie Roeper and director of product management Brian Kim, 'addressed the challenges facing the luxury sector, such as a perceived disconnect with customers and the evolving, non-linear paths to purchase'. They highlighted Zalando's 'commitment to innovation, not through technology as a standalone solution, but as an enabler of a holistic, seamless, and curated customer experience. Zalando showcased the solutions to bridge offline and online experiences and deliver personalised, immersive storytelling'. Roeper also said that 'the once captivating luxury space now feels fatigued, leaving customers yearning for deeper connection and meaning'.
Arab Times
12-04-2025
- Business
- Arab Times
Prada acquires rival Versace in $1.4B fashion deal
ROME, April 12, (AP): The Prada Group announced a deal Thursday to buy crosstown Milan fashion rival Versace from the U.S. luxury group Capri Holdings under terms that values one of the most recognizable names in Italian fashion at 1.25 billion euros ($1.4 billion). The deal will put Versace, known for sexy silhouettes and bold Greco and Medusa motifs, under the same roof as Prada's "ugly chic' aesthetic and the youth-driven Miu Miu whose stunning growth in recent years has far outpaced the market. Prada said the 47-year-old Versace brand offered "significant untapped growth potential.'' "This is exactly the strength for our group. There are no overlaps in terms of creativity, in terms of customer,″ said Lorenzo Bertelli, Prada's chief marketing officer, who is being groomed to one day take over the business that his parents - Miuccia Prada, the group's creative force and largest shareholder, and Patrizio Bertelli, its chairman and executive director - have turned into a global fashion juggernaut. "We are buying a brand with huge potential, with a very recognizable aesthetic," Lorenzo Bertelli said, underlining that the Versace brand name recognition, putting it among the top 10 in the world, far outweighs its business performance. The final value of the deal will be adjusted at closing, which is expected in the second half of the year, the Prada Group said. It will be funded by 1.5 billion euros in new debt and has been approved by the Prada and Capri Holdings board of directors. Prada Chief Executive Andrea Guerra said the deal was aimed at building a "sustainable revenue growth' and boosting the brand's identity, and was not about squeezing synergies. Prada's statement underlined that Versace will "maintain its creative DNA and cultural authenticity, ' while benefitting from its "industrial capabilities, retail execution and operations expertise. ' There are no plans to change the CEO and Miuccia Prada will not be involved in the creative side of Versace, the executives said. Guerra added that the recent creative shakeup at Versace, with Miu Miu head of design Dario Vitale replacing Donatella Versace as creative director effective April 1, had nothing to do with the deal. He called it "an independent, very personal' decision by Vitale. Lorenzo Bertelli said the experience of Miu Miu's growth had shown that small changes can make all the difference. 'We don't need to change the brand, revolutionize it. We need to just evolve it, make the right things happen, and all together they are hopefully going to bring a huge spark and bring back Versace to be a huge success,'' he said. Capri Holdings, which owns Michael Kors and Jimmy Choo, paid $2 billion for Versace in 2018, but had been struggling to position Versace's bold profile in the recent era of "quiet luxury.″ Versace represented 20% of Capri Holdings 2024 revenue of 5.2 billion euros. An analyst presentation for the Prada deal said that Versace would represent 13% of the Prada Group's pro-forma revenues, with Miu Miu coming in at 22% and Prada at 64%. The Prada Group, which also includes Church's footwear, reported a 17% boost in revenues to 5.4 billion euros last year. Donatella Versace, who took over as creative director at the fashion house founded by her brother, Gianni Versace, after his 1997 murder, continues with the fashion house in the new role of chief brand ambassador. "I am absolutely delighted to become part of the Prada family,'' she wrote in a post on Instagram beneath a photograph of herself and Miuccia Prada. 'I am honored to have the brand in the hands of such a trusted Italian family business, and I am ready to support this new era for the brand in any way I can.' The Italian government welcomed a deal that appears to secure Versace's longer term future as other family-owned fashion brands have faltered or even disappeared after opening up to outside investors.
The Hill
10-04-2025
- Business
- The Hill
Prada agrees to buy rival fashion house Versace in a deal valued at $1.4 billion
ROME (AP) — The Prada Group announced a deal Thursday to buy crosstown Milan fashion rival Versace from the U.S. luxury group Capri Holdings under terms that values one of the most recognizable names in Italian fashion at 1.25 billion euros ($1.4 billion). The deal will put Versace, known for sexy silhouettes and bold Greco and Medusa motifs, under the same roof as Prada's 'ugly chic' aesthetic and the youth-driven Miu Miu whose stunning growth in recent years has far outpaced the market. Prada said the 47-year-old Versace brand offered 'significant untapped growth potential.'' 'This is exactly the strength for our group. There are no overlaps in terms of creativity, in terms of customer,″ said Lorenzo Bertelli, Prada's chief marketing officer, who is being groomed to one day take over the business that his parents — Miuccia Prada, the group's creative force and largest shareholder, and Patrizio Bertelli, its chairman and executive director — have turned into a global fashion juggernaut. 'We are buying a brand with huge potential, with a very recognizable aesthetic,' Lorenzo Bertelli said, underlining that the Versace brand name recognition, putting it among the top 10 in the world, far outweighs its business performance. The final value of the deal will be adjusted at closing, which is expected in the second half of the year, the Prada Group said. It will be funded by 1.5 billion euros in new debt and has been approved by the Prada and Capri Holdings board of directors. Prada Chief Executive Andrea Guerra said the deal was aimed at building a 'sustainable revenue growth' and boosting the brand's identity, and was not about squeezing synergies. Prada's statement underlined that Versace will 'maintain its creative DNA and cultural authenticity, ' while benefitting from its 'industrial capabilities, retail execution and operations expertise. ' There are no plans to change the CEO and Miuccia Prada will not be involved in the creative side of Versace, the executives said. Guerra added that the recent creative shakeup at Versace, with Miu Miu head of design Dario Vitale replacing Donatella Versace as creative director effective April 1, had nothing to do with the deal. He called it 'an independent, very personal' decision by Vitale. Lorenzo Bertelli said the experience of Miu Miu's growth had shown that small changes can make all the difference. 'We don't need to change the brand, revolutionize it. We need to just evolve it, make the right things happen, and all together they are hopefully going to bring a huge spark and bring back Versace to be a huge success,' he said. Capri Holdings, which owns Michael Kors and Jimmy Choo, paid $2 billion for Versace in 2018, but had been struggling to position Versace's bold profile in the recent era of 'quiet luxury.″ Versace represented 20% of Capri Holdings 2024 revenue of 5.2 billion euros. An analyst presentation for the Prada deal said that Versace would represent 13% of the Prada Group's pro-forma revenues, with Miu Miu coming in at 22% and Prada at 64%. The Prada Group, which also includes Church's footwear, reported a 17% boost in revenues to 5.4 billion euros last year. Donatella Versace, who took over as creative director at the fashion house founded by her brother, Gianni Versace, after his 1997 murder, continues with the fashion house in the new role of chief brand ambassador. 'I am absolutely delighted to become part of the Prada family,' she wrote in a post on Instagram beneath a photograph of herself and Miuccia Prada. 'I am honored to have the brand in the hands of such a trusted Italian family business, and I am ready to support this new era for the brand in any way I can.' The Italian government welcomed a deal that appears to secure Versace's longer term future as other family-owned fashion brands have faltered or even disappeared after opening up to outside investors. 'An historic 'Made in Italy' brand is Italian again,' Industry Minister Adolfo Urso said.
