Gradual channel repositioning will be a key strategic priority, with specific focus on supporting high-quality, full-price sales and distribution
Prada is looking to increase full-price sales and cut secondary lines at its recently acquired brand Versace, whose first collection under the new creative director is expected to come out only in 2027. Pieter Mulier will take up the role in July.
Alongside the creative transition, gradual channel repositioning will be a key strategic priority, with specific focus on supporting high-quality, full-price sales and distribution, and the sharing of retail routines and best practices to elevate in-store execution. The integration process is well underway across functions, with full separation from Capri Holdings expected to be completed in the second half of 2026.
Prada said that looking at 2027 and beyond, efforts will be concentrated on driving desirability, with the introduction of Pieter Mulier’s first collection rooted in the brand’s original spirit and DNA. Network optimisation and initiatives to improve productivity will progress alongside the gradual rationalisation of the off-price channel.
In parallel, the group will continue to progress the integration of relevant functions, alongside the convergence of Prada Group’s and Versace’s digital transformation journeys. In FY25 Versace reported net revenues of 684 million euros. In 2026, the creative leadership transition and the initial repositioning steps are expected to translate into some degree of topline contraction.
The group has taken decisive action on operating expenses, generating initial synergies and savings that will be selectively reinvested in strategic areas. Versace incurred operating losses in FY25 and, all above factors considered, it is expected to continue incurring operating losses of not dissimilar magnitude in FY26.
The group also disclosed the consolidated financial results for the full year ended 31 December 2025, which showed that net revenues of 5.718 billion euros, up 9 per cent year-on-year (YoY). The group made continuous progress on the strategic investment plan, with capex of 535 million euros.
“We are pleased to report another solid set of results in 2025, with healthy growth and sound profitability, achieved in a challenging macroeconomic and industry context. The desirability of our brands remains rooted in creativity, consistency and authenticity. Our manufacturing platform is a key strength, supporting quality, craftsmanship and the operational agility required by the market,” stated Patrizio Bertelli, Prada Grouè Chairman and Executive Director.
