But the group, which also includes the fast-growing Miu Miu label, has been a relative minnow in terms of stock market valuation compared with the likes of Louis Vuitton-owner LVMH. The Versace deal comes after Andrea Guerra became Prada's CEO in 2023 to bridge a change in generation, with Lorenzo Bertelli, the son of the company's main owners and its chief marketing officer, regarded as the heir apparent. "Prada's ambition to become a leading Italian luxury conglomerate is a significant move in a market that is dominated by French groups. It's exactly what many Italians have been hoping for", said Achim Berg, a fashion and luxury industry adviser.