Miuccia Prada is the “right-hand in CEO and boss in style” at her fashion house.
In February it was announced that Miuccia had stepped down from her role as chairwoman of the Prada board and was to be co-CEO alongside her husband Patrizio Bertelli.
Bertelli discussed the move during a session with investors and the press on Wednesday.
“Holding the role of president was too time-consuming for Miuccia,” he said, according to WWD.
“She has always been co-CEO, it was just made official. She is my right hand in this function and she is the boss in style.”
Part of the discussion focused on the company’s financial records, with profits recorded in January up 0.3 per cent on the previous year. However, Bertelli insisted money has never been his primary focus.
“I have never worked to be famous,” he said. “Wealth is not an objective, it’s secondary.
“Intellectual freedom distinguishes us, our mentality that is not in line with banality.
“I dedicate 60 per cent of my time to product. That has not changed over the years – product is the starting point and finance comes after.
“I never want to lose sight of this and I strive to remain curious, if you take curiosity and imagination away, there’s no use for people like me.”
Bertelli said Prada doesn’t want to buy suppliers of materials, because the company believes that could limit it in the long run. There are also no plans for now to sell more shares, although such a move had not been ruled out.
Bertelli spoke about his business plan is different from others in the fashion industry.
“Not many people wonder what will happen in 20 years,” he said. “I think about it every day.
“To last, one must be very structured industrially. It’s not only about marketing. Church’s exists only because it has maintained its know-how and workers for more than 100 years. We must combine numbers and substance.”
Bertelli revealed the company’s plans for the next three years. It will make investments in manufacturing in both Italy and England, create a technical academy in Tuscany that will have space for 60 students annually, and focus more on the Church and Car Shoe lines.
There will also be more focus on Miu Miu, with a perfume on the way next year.