Versace CEO Exits After €1.25B Prada Sale, Q1 Revenues €143M
CPRI•Emmanuel Gintzburger, who served as Versace CEO since 2022 and led its €1.25 billion sale to Prada, resigned effective June 23. Prada will announce new governance and Pieter Mulier joins as chief creative officer on July 1 after Versace reported €143 million in net revenues for Q1.
1. Emmanuel Gintzburger Resignation
Emmanuel Gintzburger stepped down as Versace CEO effective June 23 after leading the brand since 2022. His tenure included overseeing major strategic initiatives and managing global retail and wholesale operations.
2. Prada Acquisition
In April of last year, Prada acquired Versace for €1.25 billion, funding the transaction with a €1 billion term loan and €500 million bridge facility. Gintzburger played a central role in preparing the brand for integration into the Prada Group.
3. Q1 Financial Performance
Versace generated €143 million in net revenues for the quarter ended March 31, aligning with management targets. The brand is now prioritizing full-price sales, higher-quality offerings and optimized distribution.
4. Governance Transition
Prada has yet to name a permanent CEO and will unveil its new governance structure in the coming weeks. Pieter Mulier, appointed chief creative officer, will join on July 1 to develop upcoming collections.
