Prada Nears $1.6 Billion Deal to Acquire Versace

The potential acquisition would bring Versace back under Italian ownership and bolster Prada's position in the global luxury market.

Prada is reportedly close to finalizing a deal to buy Versace from Capri Holdings for approximately €1.5 billion ($1.6 billion).
The acquisition would position Prada as a stronger competitor to French luxury giants like LVMH and Kering.
Versace, known for its bold designs, has struggled financially under Capri Holdings, reporting losses and declining revenues in recent years.
Prada's financial stability, bolstered by strong performance from its Miu Miu brand, could aid in revitalizing Versace's operations and brand potential.
If completed, the deal would mark a significant move in consolidating Italian luxury brands and reversing the trend of foreign ownership in the sector.