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Prada Agrees to Buy Rival Versace for 1.25 Billion Euros
The Morning Standard
|April 11, 2025
ITALIAN fashion house Prada announced Thursday it had reached a deal with US group Capri Holdings to buy its flashy rival Versace for 1.25 billion euros ($1.38 billion).
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The acquisition will create a luxury group with revenues of over six billion euros that could better compete with industry giants such as the French conglomerates LVMH and Gucci owner Kering, amid a slowdown in the sector worldwide.
This story is from the April 11, 2025 edition of The Morning Standard.
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