Prada acquires Versace from Capri Holdings for €1.25 billion euros, ending months of speculation in the industry. The transaction is expected to close in late 2025, subject to customary regulatory approvals.
Patrizio Bertelli, Chairman and Chief Executive Officer of the Prada Group, expressed his excitement about bringing Versace into the Prada family. He highlighted their shared commitment to creativity, craftsmanship and heritage. The Group plans to honor Versace’s bold and timeless style while supporting its growth with Prada’s resources and expertise. Bertelli emphasized that Prada is ready to lead Versace into its next phase, staying true to its core values while maintaining a disciplined approach.
Prada Group will finance the transaction with €1.5 billion euros of new debt, including a €1 billion euros long-term loan and a €500 million euros short-term financing arrangement.
Until recently, rumors suggested that Prada could acquire both Versace and Jimmy Choo for €1.5 billion euros. However, the final agreement focuses exclusively on the Versace brand, indicating Prada‘s targeted interest in the Italian fashion house.
This change in ownership follows a significant leadership shake-up at Versace. In March, Donatella Versace stepped into a new role as Chief Brand Ambassador of the fashion house, which she has led since the death of her brother Gianni 28 years ago. Former Miu Miu Design and Image Director Dario Vitale took over as Chief Creative Officer, effective April 1st.
Versace previously changed hands in 2018 when Michael Kors Holdings bought the brand for $2.1 billion USD, a deal that later led to the creation of Capri Holdings as a larger luxury group.
