Overview
- The all-cash purchase price finalized at about $1.375 billion after customary adjustments to the initial €1.25 billion agreement.
- Lorenzo Bertelli will serve as Versace’s executive president and has signaled no immediate executive shakeups.
- Prada has begun integrating Versace into its Italian manufacturing and retail platform to support a gradual brand relaunch.
- The combined group’s pro forma revenue surpasses €6 billion, strengthening Italy’s luxury footprint against French conglomerates.
- Capri Holdings will use the proceeds primarily to pay down debt and reduce leverage while focusing on Michael Kors and Jimmy Choo.