Prada Agrees To Purchase Versace From Capri Holdings In $1.4 Billion Deal

Prada Agrees To Purchase Versace From Capri Holdings In $1.4 Billion Deal

Prada has struck a $1.375 billion deal to acquire Versace from Capri Holdings, uniting two iconic Italian fashion brands.

With Prada seeking growth amid a slowdown in luxury demand and Versace struggling with recent losses, the two brands aim to strengthen Italy’s position in an industry dominated by French conglomerates, led by Louis Vuitton owner LVMH.

Prada Chairman Patrizio Bertelli said,

“We aim to continue Versace’s legacy, celebrating and re-interpreting its bold and timeless aesthetic. At the same time, we will provide it with a strong platform, reinforced by years of ongoing investments.”

 

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Donatella Versace, who recently stepped down as creative director, expressed her support for the merger, saying,

“Gianni and I have always had a huge admiration for Miuccia, Patrizio, and their family… I am honoured to have the brand in the hands of such a trusted Italian family business.”

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