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Prada: Versace relaunch requires long-term mindset
Versace FW25 Credits: ©Launchmetrics/spotlight The Prada Group intends to take its time with the relaunch of Versace. During a conference call on April 10, following the announcement of the Prada Group's acquisition of Versace, Andrea Guerra, CEO of the Prada Group, and Lorenzo Bertelli, head of corporate social responsibility for the group, stated that the next steps to fully unlock the potential of the brand founded by Gianni Versace require a long-term mindset, a patient and disciplined approach. They foresee a period of 24 to 48 months for this. "The brand image, creativity, and positioning will be the main priorities in the initial period," said the Prada CEO. The development of the strategy will be based on product innovation and the customer base. In short, the entire strategic approach has been structured with the awareness that it will take time. Guerra also thanked the previous owner, Capri Holdings, for preserving and further enriching the legacy of Versace. Prada closes new financing The closing of the transaction, subject to the usual conditions, including obtaining the required regulatory approvals, is expected in the second half of 2025 and involves the acquisition of 100 percent of Versace for a consideration of 1.25 billion on a cash and debt-free basis. The final cash consideration will be determined at the closing of the transaction, taking into account adjustments based on working capital and net financial position. The transaction has been approved by the boards of directors of the Prada Group and Capri Holdings. Prada S.p.A. has also completed new financing of 1.5 billion euros, consisting of a 1.0 billion euro term loan and a 0.5 billion euro bridge facility. "Given the available liquidity and undrawn credit lines, the Prada Group maintains a solid and flexible financial structure," the management stated. Andrea Guerra Credits: Courtesy of Prada Group 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
The Prada Group intends to take its time with the relaunch of Versace.
During a conference call on April 10, following the announcement of the Prada Group's acquisition of Versace, Andrea Guerra, CEO of the Prada Group, and Lorenzo Bertelli, head of corporate social responsibility for the group, stated that the next steps to fully unlock the potential of the brand founded by Gianni Versace require a long-term mindset, a patient and disciplined approach. They foresee a period of 24 to 48 months for this.
"The brand image, creativity, and positioning will be the main priorities in the initial period," said the Prada CEO. The development of the strategy will be based on product innovation and the customer base. In short, the entire strategic approach has been structured with the awareness that it will take time. Guerra also thanked the previous owner, Capri Holdings, for preserving and further enriching the legacy of Versace.
Prada closes new financing
The closing of the transaction, subject to the usual conditions, including obtaining the required regulatory approvals, is expected in the second half of 2025 and involves the acquisition of 100 percent of Versace for a consideration of 1.25 billion on a cash and debt-free basis. The final cash consideration will be determined at the closing of the transaction, taking into account adjustments based on working capital and net financial position. The transaction has been approved by the boards of directors of the Prada Group and Capri Holdings.
Prada S.p.A. has also completed new financing of 1.5 billion euros, consisting of a 1.0 billion euro term loan and a 0.5 billion euro bridge facility. "Given the available liquidity and undrawn credit lines, the Prada Group maintains a solid and flexible financial structure," the management stated.
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.
