Prada Buys Versace for $1.38 Billion to Form Italy Leader
April 10, 2025
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1:28Now PlayingPrada Buys Versace for $1.38 Billion to Form Italy Leader
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as posted by the channelPrada agreed to buy Versace for about $1.38 billion in cash, strengthening its position as Italy’s largest fashion group by adding one of the luxury industry’s best-known brands.
The Milan-based company, controlled by billionaire designer Miuccia Prada and her husband Patrizio Bertelli, is buying Versace from Capri Holdings Ltd., which paid €1.8 billion ($2 billion) for the brand in 2018.
The purchase, the largest in Prada’s 112-year history, returns Versace to Italian ownership and could put the company in a better position to compete with bigger luxury rivals such as LVMH and Kering SA. The deal also gives Versace a shot at the turnaround Capri hasn’t been able to deliver.
“Versace is a well-known brand and should be complementary to Prada,” said Luca Solca, an analyst at Bernstein. Still, the label “requires huge investments.”
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