Sebastian Suhl COO of PRADA Group resigns
In a surprise move, months from the group’s IPO in Hong Kong and after almost 10 years with the company, Sebastian Suhl, Chief Operating Office of PRADA GROUP resigned on Wednesday. Suhl has been instrumental for Prada’s expansion internationally, recently in the U.S., Ukraine, Russia and the UAE.
Since the listing on the Hong Kong stock exchange, PRADA Group has been moving towards directly operated stores as a model of expansion, however, it has been lagging behind direct competitor Louis Vuitton which has been mastering directly owned and operated stores for decades. In comparison with Vuitton, Prada has very limited presence with mono-brand stores representations in key emerging markets such as Eastern Europe, South America and is absent from India, one of the most important emerging markets.