Prada Acquires Versace in $1.25 Billion Deal

The acquisition unites two Italian fashion giants as Prada aims to bolster its position against global luxury competitors.

Prada has officially announced its acquisition of Versace for 1.25 billion euros from Capri Holdings, pending regulatory approval.
The deal is expected to close in the second half of 2025, consolidating two iconic Italian luxury brands under one group.
Donatella Versace stepped down as creative director on April 1, 2025, transitioning to Chief Brand Ambassador, with Dario Vitale taking over creative leadership.
Economic pressures, including US tariffs, contributed to a reduced purchase price compared to earlier valuation expectations.
Prada's move strengthens its competitive stance against French luxury conglomerates like LVMH and Kering, creating a combined entity with over six billion euros in annual revenue.