Prada gains total control of Helmut Lang

The Prada Group has entered into an agreement in order to increase its shares in the New York fashion house, Helmut Lang, from 51% to 100%.

The Prada Group, which acquired 51% of Helmut Lang in August 1999, will take over Helmut Lang's remaining 49%; the designer will continue to be part of the company acting as its Creative Director.

'The acquisition of complete control of the Helmut Lang Group clearly shows how much we believe in the brand's potential', Patrizio Bertelli, Chief Executive of the Prada Group, declared. 'Our relationship with Helmut during these years has been sound and we are delighted and enthusiastic about continuing this profitable collaboration.'

Helmut Lang added: 'I am pleased about this development and happy to continue in my role of Creative Director.'