Millennial heirs take over major luxury fashion brands in 2025

In 2025, several major luxury fashion groups underwent generational transitions, with Millennials (ages 30-45) stepping into leadership roles. At Prada Group (Prada, Miu Miu, Versace), Lorenzo Bertelli, 37, became executive president of Versace after joining the company in 2017. At Zegna Group (Zegna, Thom Browne, Tom Ford fashion), Gildo Zegna stepped aside to become executive president, while CEO Gianluca Tagliabue took over; his sons Edoardo (37) and Angelo (39) now co-lead the brand. At Kering (Gucci, Saint Laurent, Balenciaga), founder François Pinault retired in 2025, handing control to son François-Henri, who then appointed Luca De Meo as CEO. At Luxottica, founder Leonardo Del Vecchio's seven children inherited through holding company Delfin, with Leonardo Maria Del Vecchio (31) most visible. At LVMH, Bernard Arnault's five children all hold stakes via Financière Agache; three are Millennials: Alexandre (34), vice director general of Wine & Spirits; Frédéric (30), CEO of Tag Heuer and Loro Piana; Jean (27), head of product development and marketing for Louis Vuitton watches. Giorgio Armani's will mandates selling 15% of the company within 18 months to a major luxury group (priority LVMH, Luxottica, or L'Oréal), and an additional 30% within five years, up to 54.9%. The article notes that family businesses account for 85% of Italian companies, 80% of GDP, and three-quarters of employment.