Prada Nears €1.5 Billion Deal to Acquire Versace

The potential acquisition would return Versace to Italian ownership and expand Prada’s competitive reach in the luxury fashion market.

Prada is in advanced discussions to purchase Versace from Capri Holdings for approximately €1.5 billion, with a deal expected to close in March if finalized.
The acquisition would bring Versace back under Italian ownership and bolster Prada’s position against competitors like France’s LVMH.
Versace has faced declining revenues, with a 15% drop reported for the final quarter of 2024, and is projected to break even financially next year.
Capri Holdings, which acquired Versace in 2018 for €1.85 billion including debt, has been seeking to sell after calling off a merger with Tapestry in 2024 due to antitrust challenges.
Prada, led by Miuccia Prada, has conducted initial due diligence on Versace and sees the bold Versace brand as complementary to its more understated offerings.