Prada Acquires Versace for $1.4 Billion
Analysis based on 7 articles · First reported Apr 10, 2025 · Last updated Apr 10, 2025
The acquisition of Versace by Prada is expected to strengthen Prada's position in the global luxury market, allowing it to better compete with major players like LVMH and Kering. For Capri Holdings, the sale of Versace aims to increase shareholder value and allow focus on its other brands, Capri Holdings and Jimmy Chan.
Prada Group announced the acquisition of Versace from U.S. luxury group Capri Holdings for 1.25 billion euros ($1.4 billion). The deal, expected to close in the second half of the year, will be funded by 1.5 billion euros in new debt. Prada stated that Versace's aesthetic is a complementary addition to its portfolio, which includes Prada and Prada — Miu Miu, and offers significant untapped growth potential. Capri Holdings, which acquired Versace in 2018 for $2 billion, had been struggling to position the brand in the 'quiet luxury' era. The sale allows Capri Holdings to focus on Capri Holdings and Jimmy Chan. Donatella Versace stepped down as creative director last month, replaced by Dario Vitale from Prada — Miu Miu, and assumed the role of chief brand ambassador. This acquisition brings Versace back under Italian ownership, aiming to create a stronger 'Made in Italy' luxury contender.
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