Prada Heir Says Italian Group Is Open to M&A Opportunities (1)

Prada would be open to evaluating acquisitions if options arise in the luxury sector, according to Lorenzo Bertelli, heir to the Italian billionaire family.

“We have been and will always be open to considering opportunities,” Bertelli told reporters Tuesday at the presentation of a revamped knitwear factory in Torgiano, Italy.

Lorenzo Bertelli

Photographer: Jacopo M. Raule/Getty Images Europe

Bertelli, the son of company founders Patrizio and Miuccia Prada, was answering a question on the future of Giorgio Armani SpA. The executive, who is head of social responsibility for Prada, said he can’t comment on the matter as he wasn’t aware of founder Giorgio Armani ...