Jil Sander will return to the company she founded, Jil Sander AG, with immediate effect.
Ms. Sander will sit together with Mr. Patrizio Bertelli, PRADA Chief Executive Officer, and Ms. Miuccia Prada on the Strategic Committee of PRADA Holding N.V., the Dutch holding company of one of the world's leading groups in design, production and distribution of fine leather goods, footwear, clothing and accessories.
''I'm delighted that Jil has made this important decision,'' Patrizio Bertelli said. ''I am sure that she will find in the company the motivation and the resources necessary to enable her to express her ideas and creativity. I am also sure that the company's results will benefit from this decision while also taking into consideration the important investments made in the past few years.''
''This decision makes me very happy,'' said Miuccia Prada. ''It's natural that Ms. Sander returns to the company which she founded and which bears her name. I'm thrilled to welcome her back.
''I deeply welcome this development which is positive for both sides,'' said Ms. Jil Sander. ''I'm looking forward to carrying on with my work to perfect the creative Jil Sander concept, which will guarantee a future for Jil Sander AG, the company I founded.''
The PRADA Group assumed control of Jil Sander AG in 1999. At the end of 2002, Jil Sander, which posted annual revenues of 138.8 million Euro, distributed through nearly 20 directly owned stores and 16 franchising stores. The distribution of Jil Sander products also includes a network of about 350 independent clients, 12 department stores with 38 doors, for a total of over 385 points of sale.
For further information:
JIL SANDER AG
Head of Jil Sander PR
Tel.: + 49 40 55 302 170
Fax: + 49 40 55 302 168