Prada (OTC:PRDSY) Group has announced the appointment of Silvia Onofri as the new chief executive of its Miu Miu brand. This comes at a time when the brand continues to demonstrate resilience amidst a challenging environment for luxury goods, characterized by a decrease in demand for high-end products.

The Italian luxury-fashion company, which is publicly traded in Hong Kong, confirmed the appointment on Thursday. Onofri’s tenure as CEO is set to begin on February 26.

With a career that began at Bulgari, a jewelry house owned by Bernard Arnault’s luxury conglomerate LVMH, Onofri brings a wealth of experience to her new role. She has also held positions at fashion company Bally and joined VF Corp (NYSE:VFC) in 2023 as brand president of Napapijri.

The announcement of Onofri’s appointment follows a reshuffling in the luxury fashion industry. In September of last year, LVMH’s Christian Dior (EPA:DIOR) Couture named Benedetta Petruzzo, the former CEO of Miu Miu, as its new managing director.