Versace CEO Steps Down After Four Years

This week, Prada Group announced that Emmanuel Gintzburger has stepped down as Versace’s CEO amid Prada’s acquisition of the Italian fashion brand.

Emmanuel first joined Versace as CEO in 2022 following six years as head executive at Alexander McQueen.

Additionally, he held leadership positions at major fashion labels like Saint Laurent, Lanvin and Sephora.

During his time at Versace, he was instrumental in several company transitions, including the transfer of ownership from Capri Holdings to Prada as well as the departure of Creative Director Donatella Versace, who was succeeded by Dario Yitale last year.

Emmanuel’s replacement is yet to be named and according to Prada will be announced “in due course”.

Leadership changes at the C-suite level

Since the closing of its US$1.42bn acquisition of Versace in December, Prada has replaced several C-suite executives, including Dario, after his successful debut with the brand at Milan Fashion Week in September. 

Replacing Dario is Pieter Mulier, former Design Director for Alaïa and a long-time collaborator with Prada Co-Creative Director Raf Simons.

Pieter will take on the Creative Director role officially from 1 July and his first show will take place in January 2027.

Versace’s next CEO, alongside Pieter, will be in charge of revamping the brand and improving its business performance after a period of slow growth in the fashion market.

Similarly to other fashion brands, Versace has struggled after a downturn in global luxury demand, with company revenue dropping by a quarter over the past two years.

However, compared to its market rivals, Versace’s financial problems go deeper.

Its most recent annual revenue fell below that of the fiscal year that ended in March 2020 – the first full year under its previous owner, Capri Holdings. 

In 2025, Versace saw an operating loss of US$13m compared to one of US$1m the previous year.

Versace’s long-term strategic vision

Discussing company changes, Andrea Guerra, Prada’s CEO, says investors shouldn’t expect the company to change overnight, saying “the journey will be long and will require disciplined execution and patience”.

He adds: “The evolution of a brand always needs time and constant focus. I would like to thank Capri Holdings for having preserved and enhanced the heritage of this wonderful brand. 

“Notwithstanding the sector uncertainties, we look at the future with confidence, focused on a long-term strategic vision.”

Andrea and Lorenzo Berelli – Versace’s Executive Chairman – both promise to preserve the company’s “creative DNA and cultural authenticity” while benefitting from “the full strength of the group’s consolidated platform” including its “industrial capabilities, retail execution and operational expertise”.

After acquiring Versace, Prada planned the next step of its revamp strategy, investing around US$250m into the endeavour.

Industry analysts say that Prada needs to focus on pushing Versace back towards a more upmarket approach, dial back product discounts and reduce its brand presence at outlet malls.