Versace CEO Departs Amid Brand Acquisition by Prada

Prada Group confirmed this week that Emmanuel Gintzburger has departed from his role as Versace's Chief Executive Officer following the luxury conglomerate's acquisition of the Italian fashion house. The exit could signal the start of a broader brand repositioning strategy as Prada looks to reverse the label's financial decline.

Emmanuel Gintzburger joined Versace as Chief Executive Officer in 2022 after spending six years as head executive at Alexander McQueen. His career includes leadership roles at Saint Laurent, Lanvin and Sephora.

During Emmanuel's tenure at Versace, the brand went through two ownership transitions. The company moved from Capri Holdings to Prada, and Creative Director Donatella Versace departed, with Dario Yitale taking over last year.

Prada has not yet named Emmanuel's replacement. According to Prada, the announcement will come "in due course".

Executive changes amid acquisition

Prada completed its US$1.42bn acquisition of Versace in December. Since then, the group has replaced multiple C-suite executives, including Dario, who left after his debut collection showed at Milan Fashion Week in September.

Pieter Mulier will take over as Creative Director. He previously worked as Design Director for Alaïa and collaborated with Prada Co-Creative Director Raf Simons for several years. Pieter officially starts on 1 July. His first collection will show in January 2027.

The new Chief Executive Officer and Pieter will lead efforts to rebuild the brand and address its financial performance.

Brand performance lags market

Versace's revenue has dropped by a quarter over the past two years. The brand's most recent annual revenue fell below figures from the fiscal year ending in March 2020. That year was the first full year under Capri Holdings ownership.

According to company reports, Versace recorded an operating loss of US$13m in 2025. The previous year showed a loss of US$1m.

The financial trajectory could indicate challenges with brand positioning and pricing strategy. Industry analysts say Versace needs to move back towards a more premium market position.

Prada's long-term marketing strategy

Andrea Guerra, Chief Executive Officer of Prada, addressed the changes and set expectations for investors. He says: "the journey will be long and will require disciplined execution and patience".

Andrea adds: "The evolution of a brand always needs time and constant focus. I would like to thank Capri Holdings for having preserved and enhanced the heritage of this wonderful brand. Notwithstanding the sector uncertainties, we look at the future with confidence, focused on a long-term strategic vision."

Andrea and Lorenzo Berelli, Executive Chairman of Versace, both say they will preserve the company's "creative DNA and cultural authenticity" while using "the full strength of the group's consolidated platform" including its "industrial capabilities, retail execution and operational expertise".

Prada has committed approximately US$250m to the Versace revitalisation plan. The investment forms part of the next phase of the brand's restructuring strategy.

Industry analysts say Prada's strategy for Versace should focus on elevating the brand's market positioning through reducing product discounts and limiting distribution through outlet malls. A premium repositioning strategy typically requires reducing distribution points and raising price floors. This approach aims to rebuild brand equity but often means short-term revenue declines.