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Italian luxury fashion house Prada (OTCPK:PRDSF) announced the appointment of a new chief executive on Tuesday.
The group said that Gianfranco D’Attis will take on the the role of CEO, effective as of January 2. D’Attis joins the luxury group from key competitor LVMH (OTCPK:LVMUY), where he heads Christian Dior Americas.
“He will be in charge of the strategic development of the Prada brand in every market,” Prada said in a statement. “His proven experience in the luxury sector, with a specific focus on Retail, will help Prada to increase its growth potential in all geographies.”
Milan-listed shares of Prada (OTCPK:PRDSF) popped 5% on Tuesday.
Read more on recent M&A action in the luxury fashion space.
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