Must Read: Why Prada is Appointing New Leadership, Chanel’s Éric Pfrunder Has Passed Away

These are the stories making headlines in fashion on Wednesday.

Why Prada is appointing new leadership
As announced TuesdayPatrizio Bertelli and Miuccia Prada are appointing Andrea Guerra CEO of Prada Group. The shift comes as Bertelli, aged 76, and Prada, 73, are preparing to pass the reins on to the family’s next generation. (Their son, Lorenzo Bertelli, 34, has taken on an influential role at the company since 2017.) While the younger Bertelli is projected to take over Prada within the next few years, the company plans on first appointing external talent before easing into its new generation. “The market is likely to react positively to the management changes. While Lorenzo Bertelli has been instrumental in some of the initiatives of the group… it would have likely been too early for him to take on the role as group CEO,” says UBS analyst Susy Tibaldi. {Business of Fashion}

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