Italian fashion house to sponsor Luna Rossa in full Cup campaign
In a ‘Voluntary Announcement’ issued on Hong Kong Exchange and Clearing Ltd. the Italian fashion group Prada has declared that it plans to support a campaign for the 34th America’s Cup to the tune of €40million.
The statement, which was brought to light by the Independent newspaper states that, ‘Prada SA is currently negotiating the sponsorship agreement with Maestrale Holding S.r.l., a company that is in directly controlled by the Company’s President, Ms Miuccia Prada Bianchi, and the Company’s Chief Executive Officer, Mr Patrizio Bertelli, inconnection with the Luna Ross a Sponsorship.’
If successful, the announcement is significant in that it points to full participation in the Challengers Series for the 34th America’s Cup, rather than simply an involvement in the AC World Series.
Luna Rossa participated in the 2000, 2003 and 2007 America’s Cups. In 2000, the team scored its best performance, when it challenged the holder Team New Zealand. However, after the disappointing performance in 2007, Bertelli said Luna Rossa would not enter future America’s Cups.
Prada traces its roots back to 1913 when Mario Prada and his brother Martino opened a small leather goods shop – Fratelli Prada – in Milan. Miuccia Prada, granddaughter of Mario, joined the group in 1970 and currently controls the business with her husband Bertelli.