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Prada to acquire rival Versace for $1.38 bn
Financial Express Delhi
|April 11, 2025
PRADA AGREED TO buy Versace for about $1.38 billion in cash, strengthening its position as Italy's largest fashion group by adding one of the luxury industry's best-known brands.
Prada's deal to buy Versace revives hopes for a 'Made in Italy' luxury champion after many other family-founded brands ended up in French, Swiss or US hands, and comes as many Italian groups are outperforming the struggling sector.
The $1.375 billion deal brings one of fashion's best-known Italian labels back under Italian control after it was sold to US-listed Capri Holdings, then known as Michael Kors, for $2.15 billion, including debt in 2018.
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