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Prada’s Patrizio Bertelli Says Company is Not For Sale

Patrizio Bertelli prada group

VALVIGNA, Italy – put rumors about a possible sale to rest on Friday. “Prada is not selling. Of course there are suitors looking at us, it’s normal but we are not selling and we will never sell,” said the group’s chief executive officer at the presentation of the company’s new Valvigna industrial complex here.

Asked about a Bloomberg report a day earlier on succession plans, Bertelli said, “Let’s see.” His son Lorenzo, 30, who, as reported joined the group last September as head of digital communication, is “acquiring knowhow and experience within the company in communication and is preparing to possibly helm the company if he will want to. We’ll see,” said a noncommittal and typically feisty Bertelli, who dismissed any idea of retiring. “Retirement is associated to a physical and mental state. It’s a silly myth in an old society.”

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