Pieter Mulier has been officially appointed as the creative director of Versace, a decision confirmed by the Prada Group, which recently acquired the fashion house for €1.25 billion. This announcement marks an exciting turning point for Versace, as stated in a joint release from both Prada and Versace. Mulier is set to assume his new role on July 1, with the potential for his inaugural runway show to debut as early as September.
Mulier's primary focus will be to rejuvenate Versace, a brand that holds a significant place in popular culture but has struggled to achieve financial success proportionate to its iconic status, especially in a marketplace increasingly dominated by larger, established luxury brands.
He takes over from Dario Vitale, who had a brief tenure of just one season at the helm before being let go by Prada, despite Vitale's strong showing at Milan Fashion Week last September.
Before this appointment, Mulier enjoyed a successful five-year term as the creative director at Alaïa, where he was notably the first person to lead the brand after its founder, Azzedine Alaïa. His background includes studying architecture at the Brussels Institut Saint-Luc, which equipped him with a unique perspective on design. During his time at Alaïa, Mulier not only honored the essence of the brand but also revitalized it, making it relevant in modern fashion discussions while launching a successful line of accessories. Among his successful designs were the Teckel handbag and mesh ballet flats, both of which became best-sellers.
Taking on the role at Versace presents a new set of challenges for Mulier. Under the previous ownership of American fashion group Capri Holdings, Versace saw little to no growth, even recording an operating loss in the last fiscal year. Analysts suggest that Mulier will have the opportunity to leverage Versace’s well-known name and cultural influence to transform it into a profitable venture. Andrea Guerra, the CEO of Prada, has repeatedly emphasized that revitalizing Versace will be a gradual process, and Lorenzo Bertelli, executive chairman of Versace, has echoed the need for patience during this transition.
Prada's management team had identified Mulier as their preferred candidate for the creative director role well before finalizing their acquisition of Versace. In a recent statement, Bertelli expressed confidence in Mulier's ability to unlock the brand’s full potential and to engage meaningfully with its rich heritage.
Mulier’s long-standing collaboration with fellow designer Raf Simons began early in his career, starting with an internship at Simons’ eponymous label in the early 2000s. He later ascended to the position of senior head designer and worked alongside Simons at Jil Sander, Dior, and Calvin Klein, adeptly translating Simons’ vision into reality across these prestigious brands.
As part of its strategic plan, Prada has taken on €250 million in debt to reinvest in Versace, aiming to revitalize the Italian fashion label, which faced challenges scaling up before its acquisition. Experts suggest that the immediate focus for Prada and Mulier should involve reducing discounting practices, decreasing the brand's reliance on outlet malls, and repositioning Versace as a high-end brand, where it historically belonged.
