Versace Taps Pieter Mulier as New Creative Director

Versace Names New Creative Head

Versace, the Italian fashion house acquired by Prada, has appointed Pieter Mulier as its new creative director. The announcement on February 5 confirmed Mulier will move from his current role as designer for Richemont-owned Alaia.

A Strategic Shift in Luxury Fashion

Mulier is a seasoned designer with a notable career. He previously served as the global creative director at Calvin Klein and as design director at Christian Dior before joining Alaia in 2021. This appointment is a key part of Prada's strategy to relaunch the Versace brand. Prada aims to revitalize sales following a period of decline under previous owner Capri Holdings and a broader slowdown in luxury demand.

Economic and Market Implications

The leadership change signals Prada's commitment to strengthening its portfolio. Lorenzo Bertelli, Versace’s executive chairman, stated Mulier is expected to unlock the brand's full potential. Mulier is scheduled to begin the role in July, following the departure of the previous creative director, Dario Vitale. This strategic move could impact Prada's stock performance as investors watch for signs of a successful brand turnaround.

Summary and Outlook

Pieter Mulier's appointment marks a significant new chapter for Versace under Prada's management. The fashion industry and financial markets will closely monitor his creative direction and its impact on Versace's performance in the competitive luxury sector. His first collection will be a critical indicator of the brand's future trajectory.

FAQ

Q: Who is the new creative director of Versace?
A: Pieter Mulier, who was previously the designer for Alaia.

Q: Which company recently acquired Versace?
A: According to the report, Prada completed its acquisition of Versace.

Source: Reuters via Investing.com