Prada acquires Versace for €1.25 billion

On April 10, 2025, Prada Group finalized the acquisition of Versace from Capri Holdings, which had owned the brand since 2018. The deal is valued at €1.25 billion, with an additional €250 million earmarked by Prada to revitalize the company. Prada Chairman and CEO Patrizio Bertelli welcomed Versace, citing shared commitments to creativity, product care, and cultural heritage, aiming to continue Versace's legacy. CEO Andrea Guerra described the acquisition as a step in Prada's evolution, adding a complementary dimension. He noted the group's strong infrastructure and readiness for this new chapter, emphasizing the need for patience and discipline. The acquisition positions Prada as a competitor to French luxury conglomerates LVMH and Kering, alongside Richemont and the now-diminished Capri Holdings. Prada's portfolio includes flagship brand Miu Miu, Church's, Car Shoe, and Pasticceria Marchesi, now joined by Versace, hinting at a potential Italian luxury powerhouse.