Zhi Tong Cai Jing·2025-07-31 01:44Core Viewpoint - Prada's stock dropped over 9% following the release of its interim results, indicating market concerns about its performance and management changes [1] Financial Performance - Prada reported a net revenue of €2.74 billion, reflecting a 9% increase year-on-year when adjusted for fixed exchange rates [1] - Adjusted EBIT was approximately €618.5 million, showing a year-on-year growth of 7.55% [1] - Net income was around €386 million, with a modest year-on-year increase of 0.62% [1] Management Changes - The management disclosed that the acquisition of Versace is expected to be completed in Q4, with an integration plan to be announced in early 2026 [1] - Gianfranco D'Attis, the CEO of the Prada brand, will officially leave his position on June 30, 2025, after a tenure of only two and a half years [1] - During the transition period, Andrea Guerra, the Group CEO, will temporarily take over the management of the Prada brand until a new CEO is appointed [1]