Stefano Cantino, former deputy chief executive, has been promoted to lead the Italian mega-label. Prada has been poached by Gucci to be the luxury goods' new CEO. Over the course of 20 years, Catino climbed the ladder at Prada working closely with executive chairman Patrizio Bertelli, husband of Miuccia Prada co-founder of Prada Group in various communications, merchandising and strategy roles through the expansion of the global company which is now valued at 8.3 billion U.S dollars. Italian rivalry in mega fashion brands and its CEOs is not new. Kering bought Gucci in 1999, controlling 42 percent stake of Gucci for $3 billion U.S dollars, following a public battle which resulted in a rivalry between the brands. We can all recollect what happened between Tom Ford when he was creative director, and the dispute created with Gucci. Tom Ford and Maurizio clashed because of Tom Ford’s ideas and opinions on what to contribute to the brand. This created a lot of tension between the pair which resulted in the threatening of Ford's position at Gucci. Fashion and CEOs really aren't a successful mix.
