Patrizio Bertelli, the leading shareholder of luxury fashion group Prada, expressed caution regarding potential acquisitions in an interview with La Repubblica on Wednesday. While the company remains open to exploring opportunities, Bertelli emphasized that he is “very cautious” about making any moves.

“Relaunching a brand is challenging. In the early 2000s, we acquired Jil Sander and Helmut Lang, and we made some strategic mistakes,” said Bertelli, who co-controls Prada with his wife, Miuccia Prada.

Prada has been linked to potential acquisitions of other high-end fashion brands such as Versace and Jimmy Choo in recent reports. A potential acquisition of Versace could create a larger, more resilient luxury conglomerate. However, revitalizing the brand could take years and potentially impact short-term profits.

Prada’s CEO, Andrea Guerra, refrained from providing specific details about potential acquisitions during his comments on Tuesday but affirmed that the company is open to opportunities in the luxury market.