MILAN, March 5 (Reuters) - Luxury fashion group Prada's

leading shareholder Patrizio Bertelli said on Wednesday he was

"very cautious" about the possibility of making acquisitions,

although the group is ready to look at potential opportunities.

"Relaunching a brand is difficult, in the early 2000s we

bought Jil Sander and Helmut Lang and we made strategic

mistakes," Chairman Bertelli, who controls Prada along with his

wife Miuccia Prada, said in a interview with La Repubblica

daily.

Prada was linked with possible deals for fellow luxury

brands Versace and Jimmy Choo, according to several reports.

An acquisition of Versace would create a company with a

broader base that is more resistant to business cycles, but

reviving the targeted brand could take years and hit short-term

profits.

The luxury group CEO Andrea Guerra on Tuesday gave no

details of potential tie-ups but suggested it was open to

opportunities.