Sean ‘Diddy’ Combs’ lawyers appeal detention, seeking release from jail ahead of trial
Justice Department will launch civil rights review into 1921 Tulsa Race Massacre
Westlake carjacking, burglary ends in arrests of six suspects after police chase
Hurricane Helene hampers early voting efforts in North Carolina
Startling video shows Russian fighter jet flying within feet of US F-16 near Alaska
UN peacekeepers patrol southern Lebanon - what is their mandate?
Amgen must face lawsuit claiming it hid $10.7 billion tax bill
AI chip firm Cerebras files for US IPO
KB Home's longtime CFO Kaminski to retire in early 2025
'Crying Lions fan' pays it forward, gifting game tickets to young girl who lost a mother figure
'SNL' 50th season premiere gets more than 5M viewers, its best opener since 2020
LeBron James is feeling 'pure joy' as he begins Lakers training camp alongside son Bronny
VENICE (Reuters) - Italian luxury group Prada is not looking at big acquisitions as it is focused on the brands it already owns, its Chief Executive Andrea Guerra said on Monday.
Speaking at the FT Luxury Summit in Venice, Guerra added that he expected a positive surprise this year from the U.S. market for the luxury sector.
"I'm cautiously positive about the US. I think that Prada has a relationship with the American consumer, but maybe we have been a little bit under represented as a business there. So we've got homework to do," he added.
The CEO - appointed in January 2023 to lead the company as the next generation of its founding family gets ready to pick up the reins - said he did not know when the change at the helm would take place.
Lorenzo Bertelli, one of the two sons of Prada's founders Miuccia Prada and Patrizio Bertelli, is expected to be appointed CEO after Guerra.
In first quarter results published last month, Prada defied a slowdown across the luxury sector, reporting booming demand for its high fashion brand Miu Miu and continued growth in Asia.
(Reporting by Elisa Anzolin; Editing by Giulia Segreti/Keith Weir)
