We Speak Fashion

Prada Group Names Pieter Mulier to Lead Versace’s Next Chapter

Published

9 months ago

February 5, 2026

Prada Group has chosen the designer it wants to rebuild Versace. Prada Group and Versace jointly announced on February 5, 2026, the appointment of Pieter Mulier as Chief Creative Officer of Versace, effective July 1, 2026, reporting to executive chairman Lorenzo Bertelli. “When we considered the Versace acquisition, we identified Pieter Mulier as the right person for the brand,” Bertelli said in the release. “We believe that he can truly unlock Versace’s full potential and that he will be able to engage in a fruitful dialogue with the brand’s strong legacy. We are excited to begin this journey together.”

The appointment follows Prada Group’s acquisition of Versace from Capri Holdings at an enterprise value of approximately €1.25 billion — agreed in April 2025 and completed on December 2, 2025 — after a seven-year Capri tenure in which Versace’s revenue stayed largely flat and the brand recorded an operating loss in its most recent fiscal year. Mulier becomes Versace’s third creative leader in under a year: Donatella Versace stepped away from design in March 2025 to become chief brand ambassador, and Dario Vitale’s single-season tenure ended after the acquisition closed.

Mulier brings one of the deepest apprenticeships in modern fashion to Milan. The Belgian designer studied architecture at Brussels’ Institut Saint-Luc before a career-defining two decades alongside Raf Simons — an internship at Simons’ label, senior head designer from 2002, Jil Sander from 2006, Dior in 2012, where his studio role was documented in the film “Dior and I,” and creative director of Calvin Klein from 2016. He then spent five years as the first creative director of Alaïa after founder Azzedine Alaïa, reviving the house with best-selling accessories including the Teckel handbag and mesh ballet flats.

Announcement-day reporting expected his first Versace runway as early as September 2026. Between the Alaïa revival and the Simons years, Mulier arrives with a reputation for rebuilding houses around craft and product — and Versace, under new ownership for the first time in its modern era, is now his to rebuild.

We Speak Fashion

L’Oréal Powers Past the Beauty Market: €35.33 Billion in Nine Months as Salon and Derm Brands Lead

Published

4 days ago

October 22, 2026

We Speak Media

The world’s largest beauty company is growing faster than the market it leads. L’Oréal reported sales of €35.33 billion for the first nine months of 2026, up 6.9% like-for-like and 7.7% as reported, in a statement released on October 22. Third-quarter sales reached €11.56 billion, up 7.2% like-for-like.

CEO Nicolas Hieronimus called it “an exceptional third quarter,” saying the global beauty market “once again proved its resilience” and that L’Oréal “continued to significantly outpace it” — company commentary put the wider market’s growth at roughly 5% for the quarter.

The quarter’s heavy lifting came from the group’s two professional-facing divisions. Professional Products — home to Kérastase, Redken and L’Oréal Professionnel — sold €1,469.1 million in Q3, up 12.1% like-for-like, while Dermatological Beauty (La Roche-Posay, CeraVe, SkinCeuticals) sold €1,871.6 million, up 12.2%. L’Oréal Luxe added €4,176.6 million (+6.4%) and Consumer Products €4,044.3 million (+4.3%), as fragrances and haircare drove growth, skincare continued to accelerate, and e-commerce sales grew around 17% — well ahead of the online beauty market.

The brand highlights told the same story. Kérastase grew double-digit, powered by Gloss Absolu, Genesis and Chronologiste; La Roche-Posay launched Mela B3 Double-Dose and Anthelios UV Air; Yves Saint Laurent’s Libre and MYSLF fragrances grew double-digit; and the newly acquired fragrance house Creed performed strongly.

Regionally, SAPMENA-SSA was the standout at +19.2% like-for-like, followed by Europe at +9.9% and North Asia at +7.8%; North America grew 2.2% (5.6% adjusted), and Latin America was the only region to decline, down 1.0%. During the period L’Oréal also closed its acquisition of a majority stake in Innovist, a digital-first Indian personal care house of brands — a results statement that underlines a simple point: at €35 billion in nine months, L’Oréal is not just leading the beauty business, it is widening the gap.