Ms Prada will still hold onto the title of creative director, and whilst she will not take on any new responsibilities, this move will make herself her own boss, which is a dreamy prospect when it comes to appraisals we imagine. Her previous position will be filled by former deputy chairman, Carlo Mazzi.
Whilst it sounds like a bold move, it has been noted by Reuters that “this is just a formal move” in order to comply with Hong Kong trading laws, and with a company as multinational as Prada it is understandable that changes like this are to be made. It was also noted that Prada had seen a 9 percent rise in profit in the past 12 months so no doubt the joint CEOs will continue to push for success in 2014. According to a statement released by the brand, Miuccia “will concentrate on the day-to-day management of the business by devoting her time to guiding the further development of the group, mainly in the creative design and brands communications activities.”
Prada had humble beginnings when Miuccia’s grandfather, Mario, established the brand in 1913. It was Miuccia who after taking over the brand in 1978 along with her husband Bertelli, turned it around and into the globally recognized brand that it is today, introducing womenswear in 1989.
