It is rumored that Patrizio Bertelli, the CEO of Prada house, is carrying negotiations with the label’ founder Helmut Lang about the possibility to sell it back. For now the company is in the suspended state as no one knows for sure what is going on in the house. The Prada Group refuses to comment.

Meanwhile Bertelli gave all designers a week off to wait for further instructions while Lang had his PA call journalists all over the world on Thursday to provide the photo they are obliged to use in every article about the designer. It is believed that Lang will buy the label back either himself or with the help of investors who are in talks with Bertelli right now: "There is one fashion entrepreneur and two investment funds [in the running]," - said the insider. A deal is supposed to be set within a year.

Helmut Lang has been the President of the Prada House for 19 years until suddenly sold his shares and walked away two months ago. It is known that company was in the red as its sales dropped to J19.4 million but Italian parent company has refused to give any comments on Lang's future since he left the house.