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MILAN — Pieter Mulier has been named creative director of Versace, new owner Prada Group has confirmed.
“This choice marks the beginning of a new chapter for the brand,” Prada Group and Versace said in a joint statement on Thursday. Mulier will officially take the creative reins at Versace on July 1. His first runway show for the label could take place as soon as September.
Mulier will be tasked with revitalising Versace, a mainstay of popular culture whose business performance has never matched the power of its brand in a market increasingly dominated by bigger heritage houses.
He follows a one-season stint by former designer Dario Vitale, who was ousted by Prada despite a Milan Fashion Week debut that exceeded expectations last September.
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Mulier’s new mandate follows a five-year run as Alaïa’s creative director, where he was the first to succeed house founder Azzedine Alaïa. The designer, who studied architecture at the Brussels Institut Saint-Luc, mastered the essence of Alaïa while making it his own, bringing the French label back into the fashion conversation while developing a successful accessories line. Hits have included the elongated Teckel handbag and mesh ballet flats that were sell-outs.
Versace brings a new challenge to the seasoned designer. Revenue was largely stagnant during seven years of ownership by American fashion group Capri Holdings and the brand booked an operating loss in its last fiscal year.
Mulier is expected to have a reasonably lengthy runway to translate Versace’s name recognition and cultural cachet into a profitable fashion label. Prada chief executive Andrea Guerra has said on multiple occasions that turning around Versace will be a “long journey.” Prada scion and Versace executive chairman Lorenzo Bertelli has also preached patience.
Prada management had a clear idea that it wanted Mulier for the job months before the acquisition of Versace closed. “When we considered the Versace acquisition, we identified Pieter Mulier as the right person for the brand,” Bertelli said in the statement Thursday. “We believe that he can truly unlock Versace’s full potential and that he will be able to engage in a fruitful dialogue with the brand’s strong legacy.”
The long history of collaboration between Mulier and Simons started when Mulier’s fashion career kicked off with an internship for Simons’ namesake label in the early 2000s. He eventually rose to senior head designer. The two also worked together at Jil Sanders when Simons was creative director. Simons later brought Mulier with him to Dior and eventually Calvin Klein, where Mulier executed the designer’s vision for the iconic American brand.
Prada acquired Versace last year from Capri Holdings for €1.25 billion. The group borrowed €250 million to invest in relaunching the Italian fashion house, which struggled to scale up before the Capri buyout. Dialling back discounts, reducing its presence at outlet malls and pushing Versace back up market, where it used to squarely sit, should be the first order of business for Prada management and Versace’s new creative director, analysts have said.
