Word: bertelli
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Dates: during 1990-1999
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Last week her firm announced its intention to become a powerful business force as well. Under the careful eyes of Prada's husband Patrizio Bertelli, its managing director, the firm grabbed 5% of rival fashion house Gucci for a little more than $120 million. The acquisition, akin to Hyundai's biting off a tasty chunk of Honda, had many manicured hands scratching coiffed heads--including some at Gucci's Florentine headquarters, which released a terse statement: "No agreement has been entered into with the Prada group, and no discussions are contemplated. Gucci did not solicit this investment...
...Prada has gone from being a staid leather-goods firm to just about the most prized name in the apparel business. There are no clearance sales of Prada clothes; they can be hard to find at full price. The firm, run by Miuccia and her entrepreneur husband Patrizio Bertelli, has been cautious about expansion, but in the next year new outlets will be popping up--Atlanta; Costa Mesa, California; and the Bal Harbour district of Miami. The house now receives the ultimate accolade: it is widely copied. Several outfits in Calvin Klein's latest CK collection pay sincerely flattering tribute...
Dominick M. Bertelli '91-'92 also agrees, saying that he didn't think sanctions and negotiations were given enough of a chance, "but once you commit to this line of action, you can't turn back...