Prada CEO Says No Plans to Sell.

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Patrizio Bertelli added his son Lorenzo may one day head the company.

MILAN, Italy — Prada Chief Executive Patrizio Bertelli said on Friday his family would not sell its 80 percent stake in Italy's biggest luxury goods group and said his son Lorenzo may one day head the company.

The Milan-based firm is run by the husband-and-wife team of Patrizio Bertelli and designer Miuccia Prada, whose grandfather founded the label in 1913.

The couple's eldest child Lorenzo, 30, joined Prada to run its digital communications last year, the company confirmed this week following a Bloomberg report. Bertelli said his son was being prepared to take over.

"Lorenzo is getting ready to become one day — if he wants to — the head of Prada," Bertelli said, at the inauguration of a production site in Italy, although 72-year-old also said it was "too early to retire."

By Reuters.

Full story at Business of Fashion.