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Prada-Versace deal: Rumours of 2.5 billion euro financing with Goldman Sachs
Versace, Paris store. Credits: Capri Holdings A banking consortium led by US investment bank Goldman Sachs is reportedly ready to provide Prada with a 2.5 billion euro financing line to support the Italian fashion group's acquisition of Versace, the Milan daily MF Fashion reported on Friday. Approximately 1.5 billion euros would be used for the acquisition, while the remaining one billion euros will be used to reposition Versace. The company, led by CEO Andrea Guerra, continues to adhere to its "no comment" policy, which it has pursued since the first rumours of a possible acquisition of Versace. As Guerra himself emphasised during the presentation of its 2024 financial results, the group's focus is on further developing its own brands and will only consider new acquisitions when strategic market opportunities arise. Prada Group, which owns the Prada, Miu Miu, Church's, Car Shoe, Marchesi 1824, and Luna Rossa brands, recorded net sales of 5.4 billion euros—an increase of 17 percent compared to 2023 and above the market average. According to Patrizio Bertelli, president and CEO of the group, strategic vision and outstanding product quality are the foundation for this growth despite the challenges in the luxury segment. During an analyst and press conference, Bertelli also emphasised that the company is optimistic about 2025. Any new developments will only be announced after the negotiations are concluded—presumably by April 10, when the exclusivity period for the talks with current Versace owner Capri Holdings expires. In addition to Versace, the holding company also owns Jimmy Choo and Michael Kors. In a few days, it could become clear whether the brand, which debuted 47 years ago with its first fashion show at the Permanente in Milan, will return to Italian ownership. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
A banking consortium led by US investment bank Goldman Sachs is reportedly ready to provide Prada with a 2.5 billion euro financing line to support the Italian fashion group's acquisition of Versace, the Milan daily MF Fashion reported on Friday. Approximately 1.5 billion euros would be used for the acquisition, while the remaining one billion euros will be used to reposition Versace.
The company, led by CEO Andrea Guerra, continues to adhere to its "no comment" policy, which it has pursued since the first rumours of a possible acquisition of Versace. As Guerra himself emphasised during the presentation of its 2024 financial results, the group's focus is on further developing its own brands and will only consider new acquisitions when strategic market opportunities arise.
Prada Group, which owns the Prada, Miu Miu, Church's, Car Shoe, Marchesi 1824, and Luna Rossa brands, recorded net sales of 5.4 billion euros—an increase of 17 percent compared to 2023 and above the market average. According to Patrizio Bertelli, president and CEO of the group, strategic vision and outstanding product quality are the foundation for this growth despite the challenges in the luxury segment. During an analyst and press conference, Bertelli also emphasised that the company is optimistic about 2025.
Any new developments will only be announced after the negotiations are concluded—presumably by April 10, when the exclusivity period for the talks with current Versace owner Capri Holdings expires. In addition to Versace, the holding company also owns Jimmy Choo and Michael Kors. In a few days, it could become clear whether the brand, which debuted 47 years ago with its first fashion show at the Permanente in Milan, will return to Italian ownership.
FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
This article was translated to English using an AI tool.
