Prada to buy Versace for 1.25 billion euros to create new Italian luxury giant

Prada said Thursday that it had reached a deal to buy Versace for 1.25 billion euros (USD 1.38 billion), building a new Italian fashion powerhouse and hoping to insert much-needed "spark" into its smaller, flashier rival. The much anticipated acquisition, from US group Capri Holdings, will create a group with revenues of over six billion euros that could better compete with giants such as the French conglomerates LVMH and Gucci owner Kering. "We are delighted to welcome Versace to the... - Industry buzz

Apr 10, 2025 - 19:12

Prada said Thursday that it had reached a deal to buy Versace for 1.25 billion euros (USD 1.38 billion), building a new Italian fashion powerhouse and hoping to insert much-needed "spark" into its smaller, flashier rival.
The much anticipated acquisition, from US group Capri Holdings, will create a group with revenues of over six billion euros that could better compete with giants such as the French conglomerates LVMH and Gucci owner Kering.
"We are delighted to welcome Versace to the... - Industry buzz