Overview

• Prada Group confirmed the acquisition of Versace from Capri Holdings for €1.25 billion, marking the largest purchase in Prada's history.
• The deal was renegotiated down from an initial €1.5 billion due to market pressures and economic uncertainty linked to U.S. tariffs.
• Prada will finance the transaction with €1.5 billion in new debt, including a €1 billion term loan and a €500 million bridge facility.
• Versace's recent leadership transition saw Donatella Versace step down as creative director, replaced by Dario Vitale, a Miu Miu alum.
• Capri Holdings aims to use proceeds from the sale to strengthen its balance sheet and focus on its remaining brands, including Michael Kors and Jimmy Choo.