Prada Rules Out Armani Bid to Focus on Versace
Prada CEO Andrea Guerra stated the luxury group is not considering a bid for Armani as it remains focused on reviving the Versace business. The company is currently prioritizing integration and the upcoming runway show by designer Pieter Mulier.
Insights:
Prada ruled out a bid for rival Armani on Monday afternoon, telling Reuters it is entirely focused on turning around Versace. Chief Executive Andrea Guerra said the rival fashion house is not on the company's radar.
