The executive, son of Miuccia Prada and Patrizio Bertelli, has assumed the management of Prada’s digital communication department. The company also denied rumours of a potential sale.
Prada paves the way for a generational change. Lorenzo Bertelli, son of Miuccia Prada and Patrizio Bertelli, has been appointed to the board of directors, dispelling speculations on a potential sale of the business. The thirty-ear-old executive, who holds a degree in Philosophy, has taken the reins of Prada’s digital communication department.
Lorenzo Bertelli joined the family business in 2015, after working in the rally business, according to Business of Fashion. Prada has announced that the future growth strategy will be based on ecommerce and digital communication, an area in which Bertelli’s role will be key.
Prada ended fiscal 2017 with a net profit of 249 million euros, 10% less than in the previous year. The company’s profit has been falling during three consecutive years. Sales stood at 3.1 billion euros last year, 3.6% less than in 2016.