Prada CEO not eyeing big acquisitions: According to CEO Andrea Guerra, Prada SpA is currently looking to wait to make any significant acquisitions. The Italian fashion giant is focused on building its own brands. 

“Our homework today is to nurture our brands,” Guerra said at Monday’s gathering in Venice. He added, “I have no news for you” on mergers and acquisitions.

 With fashion icon Giorgio Armani hinting at potential changes for his company in the future, the fashion world is abuzz with speculation. As he approaches his 90th birthday, Armani’s comments to Bloomberg about not ruling out a merger after stepping down have sparked significant interest and anticipation in the industry.

 His remarks have shaken independent and family-controlled Italian luxury brands like Salvatore Ferragamo SpA, Moncler SpA, and Ermenegildo Zegna NV. None of them can compare to their formidable and acquisitive French competitors, LVMH Moet Hennessy Louis Vuitton SE and Kering SA.

 While Guerra has clarified that Prada SpA is not planning any major moves in the immediate future, he has also expressed a sense of anticipation for the potential increase in merger and acquisition activity in the fashion business. This anticipation hints at the industry’s dynamic nature and the potential for significant growth and changes in the coming years, which should inspire optimism among our investors.

 Prada SpA has recently taken significant steps to strengthen its position in the market. The company has strategically invested in Italian cashmere producer Filati Biagioli Modesto SpA and knitting specialist Luigi Fedeli e Figlio Srl. It has also acquired a share in Tannery Superior and partnered with Zegna. These moves, part of Prada’s ongoing commitment to investing in Italy and consolidating smaller suppliers, are expected to contribute to the company’s growth, size, and stability.