MILAN, Italy — Italian fashion house Prada has reached a definitive agreement to acquire its rival, Versace, from US-based Capri Holdings in a deal valued at 1.25 billion euros ($1.38 billion).
This acquisition will strengthen Prada’s position in the competitive luxury fashion market, consolidating its revenues to exceed six billion euros.
Prada will acquire 100% of Versace’s shares, bringing the renowned brand under Italian ownership once again. It aims to integrate Versace’s brand and legacy into its operations, boosting its creative and design capabilities while enhancing its market reach.
The deal also represents a strategic move by Capri Holdings to refocus on its core brands, which led to the decision to sell Versace.
Prada intends to maintain Versace’s brand identity while exploring operational efficiencies and expanding the brand’s global footprint.
Regulatory approvals are still pending, and the transaction is expected to close later in 2025.
