Patrizio Bertelli

 

Net Worth: $4.2 Billion

• Source of Wealth Businessman, CEO (Prada, Miu Miu)
• Nationality Italy

About Patrizio Bertelli

.
Bertelli met his wife and business partner Miuccia Prada at a trade fair in 1977, same time as they took the helm of the family company. While she takes care of the creative flow of the company Patrizio Bertelli takes charge of the finances of the company. She and Patrizio Bertelli, took over the family-owned luxury goods manufacturer in 1978.
It was under Bertelli’s sway that the design house grew as a conglomerate adding such labels as Fendi, Helmut Lang, Jil Sander and Azzedine Alaia to its portfolio of brands. By 2007 they began to return to their core concerns. Jil Sander was sold back, Azzedine Alaia had bought back his company and Helmut Lang was sold in 2005.
Patrizio Bertelli, Team Principal of Luna Rossa Challenge, was born in Arezzo, Italy, in 1946, to a family of lawyers. He studies Engineering in Bologna, and in 1968 he establishes a small company producing belts and bags in Arezzo, which later serves as a basis for the development of his future business.

In 1977he meets Miuccia Prada, whom he will later marry, and they sign an agreement for the production and marketing of leather goods under the “Prada” brand; this marks the beginning of an association whose success is expressed by the history of the PRADA Group.

Ever since his early years, Patrizio Bertelli’s ability to foresee and anticipate social, lifestyle and market changes, and to seize consumers’ aspirations, prompts him to review the brand’s image on a totally new basis, without altering its DNA but rather by combining the brand’s know-how, history and century-old heritage with an extremely innovative approach that is implemented in all processes. The working method is also revisited, by means of implementing tight control over the whole value chain, a business model later adopted throughout the industry.

Uncompromising quality – in all process steps – and innovation, in keeping with the brand’s century-old heritage and with the artisan soul of its production, are the core values that always inspired Patrizio Bertelli and Miuccia Prada in their development.

In the 1980s and 1990s, Prada experiences a strong growth thanks to the introduction of new product categories – Prada Women’s ready-to-wear in 1988 and Prada Men in 1993 – and the establishment of a new brand, Miu Miu, in 1993. In early 1997 the natural extension of the Prada collection, i.e. leisure time and sports products, is added, characterised by the now unmistakable “red stripe”.

At the same time, Prada also embarks in an international expansion plan by opening directly-operated stores in the most exclusive locations of the main cities in the world and prestigious tourist resorts, until, as of January 31st, 2012, the Group reaches a total of 388 directly-operated stores in 70 different countries worldwide.

Prada also grows by acquiring the luxury footwear brands Church’s and Car Shoe, and by adding new product categories: eyewear, fragrances and mobile phones – in 2007, in collaboration with LG Electronics, when the brand launches the first touch-screen mobile phone ever.

In October 2000 Patrizio Bertelli receives an Honoris Causa degree in Business Administration from the Università degli Studi di Firenze and, in 2006, the US magazine Time includes Patrizio Bertelli and Miuccia Prada among the 100 most influential couples in the world.

Since June 24th, 2011, 20% of Prada SpA’s shares are listed on the Hong Kong Stock Exchange, with an initial valuation of the company equal to 9.3 billion Euros.

Patrizio Bertelli combines his business activity with cultural interests that he shares with his wife. Those interests prompted the establishment of the “Fondazione Prada” that organises and supports contemporary art exhibitions and other cultural endeavours, mainly in the fields of cinema, philosophy and architecture, rewarded by unanimous international acclaim.

A passionate sailor, in 1997 he launches his first challenge to the America’s Cup (2000 edition) and wins the Louis Vuitton Cup. He challenges again for the 2003 and 2007 editions, reaching the Louis Vuitton Cup final in the latter. He is one of the European personalities who has left a strong mark in the history of the America’s Cup.

An accomplished yachtsman, Patrizio Bertelli loves sailing and not just racing; he spends his summer holidays cruising on the “Ulisse”, the family yacht, and he is also passionate about vintage boats.