We&#x27;ve curated a special 10-minute version of the podcast for those in a hurry. Here you can listen to the full episode: https://podcasts.apple.com/no/podcast/prada-group-ceo-the-old-normal-of-luxury-the-bet/id1614211565?i=1000760166168&amp;l=nb In this episode of In Good Company, Nicolai Tangen sits down with Andrea Guerra, CEO of the Prada Group, in Milan to explore the art of building iconic luxury brands. They discuss why luxury must return to its &quot;old normal&quot; of exclusivity and experience, the extraordinary rise of Miu Miu as a rebellious yet inclusive brand, and how the acquisition of Versace opens a bold new chapter for the group. Andrea also shares his philosophy on resonant leadership, empowering people to express themselves and embracing debate to reach better decisions. With ambitions spanning generations, the Prada Group is playing the long game. In Good Company is hosted by Nicolai Tangen, CEO of Norges Bank Investment Management. New full episodes every Wednesday, and don&#x27;t miss our Highlight episodes every Friday. The production team for this episode includes Isabelle Karlsson and PLAN-B&#x27;s Niklas Figenschau Johansen and Sebastian Langvik-Hansen. Background research was conducted by Isabelle Karlsson. Watch the episode on YouTube: Norges Bank Investment Management - YouTube Want to learn more about the fund? The fund | Norges Bank Investment Management (nbim.no) Follow Nicolai Tangen on LinkedIn: Nicolai Tangen | LinkedIn Follow NBIM on LinkedIn: Norges Bank Investment Management: Administrator for bedriftsside | LinkedIn Follow NBIM on Instagram: Explore Norges Bank Investment Management on Instagram Hosted on Acast. See acast.com/privacy for more information.

HIGHLIGHTS: Andrea Guerra - CEO of the Prada Group

In Good Company with Nicolai Tangen

# Full Transcript

**Podcast:** In Good Company with Nicolai Tangen

## Transcript

[SPEAKER_A] Hi everybody, tune in to this short version of the podcast, which we do every Friday. For the long version, tune in on Wednesdays. Hi everyone, today I'm in Milan, the heart of Italian fashion, and I'm in extremely good company with Andrea Guerra, CEO of the Prada Group. Now, Andrea took over 3 years ago, stepped into the Prada shoes, and at that time the group has grown quarter by quarter. Miu Miu is arguably now the hottest brand in luxury. And you just bought Versace. So, well, welcome.

[SPEAKER_B] Welcome and happy you're here.

[SPEAKER_A] Now, Prada is more than 100 years old. What's the DNA of Prada, in short?

[SPEAKER_B] You know, Prada is a unique brand. It's— Prada is a point of view. Prada is an opinion. Prada is culture. Prada is totally winded in certain cultural pillars such as art, architecture, literature and has always an opinion.

[SPEAKER_A] And how do you see that in the brand?

[SPEAKER_B] You can see that in a brand. You can see that in a brand in any aspect, in any location, in anything we do. There is nothing which is not thought. There is nothing which you can spot details which are out of place. There is nothing that we do by chance and not linked to a thought and to an opinion about what's going on in the society.

[SPEAKER_A] [Speaker:NICOLAI TANGEN] How is fashion changing now? How is the luxury goods industry?

[SPEAKER_B] [Speaker:ANDREA GUERRA] You know, I think this industry is upside down.

[SPEAKER_A] [Speaker:NICOLAI TANGEN] What does that mean?

[SPEAKER_B] [Speaker:ANDREA GUERRA] This industry has gone through a couple of decades of constant growth. Let's go to any textbook. That's not possible. That's not feasible. And I think we were all happy. And this industry has grown by 3 times, 4 times, 5 times in the last only 10, 15 years. So I think that now we have to go through a period of normalization. We have to go through a period where maybe we've been a little bit spoiled. So we have to go back to certain, on certain aspects of the business.

[SPEAKER_A] So what's normalization? What's the new normal?

[SPEAKER_B] I think it's the old normal. This is what we have to look for. It's not the new normal. It's the old normal. Luxury is exclusivity, selectivity, is value, is dreams. It's experience. It's hospitality. This is what we have to do. And this is what it has always been.

[SPEAKER_A] So the world is changing and the media picture is changing and we got social media and we got Attention spans like ants. How does the storytelling art change?

[SPEAKER_B] [Speaker:ANDREA_GUERRA] You know, I think there are two things. First of all, when people are asking me how we are using artificial intelligence, the main part we're using artificial intelligence is in our CRM. So—

[SPEAKER_A] [Speaker:NICOLAI_TANGEN] Customer relationship management.

[SPEAKER_B] [Speaker:ANDREA_GUERRA] Yes. We are working like hell. Hours ...

HIGHLIGHTS: Andrea Guerra - CEO of the Prada Group

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

HIGHLIGHTS: Andrea Guerra - CEO of the Prada Group

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.