Bernstein: Despite the restructuring of the creative team, Versace should still remain true to its core essence.

Bernstein analyst Luca Solca said that despite changes in the creative team, the Versace brand under the Prada umbrella should maintain its core DNA, remaining true to its baroque luxury essence. The Italian luxury group appointed Pieter Mulier to lead the creative work for the Versace fashion brand, which it acquired from Capri last year. This designer will be coming over from the Alaia brand under the Richemont Group, where he served as creative director. The analyst said, "Mulier's job is to polish the core DNA of Versace, updating it and making it shine again." "Let's see if he can perform as well at Versace as he did at Alaia." Prada's Hong Kong stock price fell by 1.4%.