Pieter Mulier To Debut In 2027 And Revive Atelier Line As Brand Enters Transition Phase
Prada Group offered new details on its strategy for Versace as it reported its 20th consecutive quarter of growth, positioning the newly acquired house as a long-term development play within its portfolio.
Speaking on a call with analysts, executive chairman Lorenzo Bertelli outlined the early direction for Versace, confirming that incoming chief creative officer Pieter Mulier will present his first collection in early 2027. He will also relaunch the Atelier couture line, signaling a renewed emphasis on the brand’s high-fashion credentials.
Mulier, who will officially join Versace on July 1, is expected to lead a broader creative reset following a period of instability. The designer presented his final collection for Alaïa in Paris this week, marking the end of his tenure there before transitioning to the Milan-based house.
As part of the repositioning, Versace will also discontinue its Versace Jeans Couture line, currently licensed to Swinger International, consolidating the brand’s structure and eliminating sub-labels.
Bertelli described Versace as a complementary addition to Prada Group’s portfolio, citing its global recognition, cross-category strength, and cultural relevance. “We welcome a brand that has made the history of fashion and glamour as we know it today,” he said, adding that the house offers “multiple untapped levers of growth,” though he cautioned that progress will take time.
The group plans to reposition Versace toward higher-quality, full-price distribution, while optimizing its retail network and integrating key operational functions. Full separation from Capri Holdings is expected to be completed in the second half of 2026.
Chief executive officer Andrea Guerra said that while Versace will maintain its creative independence, it will benefit from Prada Group’s manufacturing infrastructure. The company operates 25 industrial facilities, forming a vertically integrated production platform that will support Versace’s development across categories.
The integration process is already underway, including leadership changes such as the appointment of Luca Carraro as chief operation industrial officer. The group is also continuing to streamline its supplier base, a process accelerated in recent years through increased internal production capabilities.
Versace generated revenues of €684 million in 2025 and is expected to face a transitional year in 2026. Chief financial officer Andrea Bonini indicated that the brand will likely experience some top-line contraction as it undergoes creative and operational adjustments, while continuing to post operating losses of a similar magnitude to last year.
At the same time, Prada Group is implementing cost controls and identifying synergies, with savings expected to be reinvested into strategic areas to support the brand’s long-term repositioning.
The updates come as Prada Group continues to deliver steady growth across its existing business, while laying the groundwork for what it views as a multi-year transformation of Versace.