The first feedback for listed companies starts with the stock market. It must be mentioned that the stock market responded positively to Andrea Guerra’s new adventure in Prada. “During the first week after Guerra’s official entrance – writes MFF -, the group gained 5.15% on the Hong Kong’s stock exchange”. The new CEO faces many challenges. Preparing Lorenzo Bertelli to take over, conduct a dual listing of Prada, and most importantly develop business. Some even say that Prada is now ready to catch up to Gucci.
The stock market welcomes Guerra
Stockholders welcomed Guerra’s entrance in Prada positively. Institutions such as UBS, Société Générale, Bank of America, Bernstein and Barclays all gave the group the “buy” rating, says MFF, while Equita and Mediobanca rated it as a “hold” stock. “The company’s rating are maintaining a positive from financial institutions”.
Prada launches itself to catch up to Gucci
What can Prada achieve? Speaking with MFF, Chiara Berlendi, principal at Heidrick & Struggles Italia, drops the bomb: “With its potential it can surely triple its numbers and reach Gucci”. Of course, the result isn’t as close as one may think: it requires massive effort, especially with regards to attracting talent. The group “will need to re-structure its organizational design – continues Berlendi – to make itself ready to play in a different league. The insertion of key individuals will need to be planned via a strategic talent acquisition and development plan, especially to prepare the group to support the development of functions in this key moment, such as IT and supply chain, both representing very relevant functions today”.