MILAN — Prada chief Patrizio Bertelli and wife Miuccia Prada launched the new Luna Rossa yacht in Valencia, Spain, on Wednesday, complete with the designer breaking the traditional bottle of champagne on its hull. The event was held at the team’s new headquarters, which were designed by Renzo Piano. The next America’s Cup series will be held in Valencia in 2007, with Switzerland defending. This is the third time a Luna Rossa yacht will take part in the America’s Cup.

This story first appeared in the March 23, 2006 issue of WWD. Subscribe Today.

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