US EditionItaly's Prada agrees to buy fashion rival Versace
- The Prada Group has agreed to purchase Versace from Capri Holdings for approximately $2.2 billion, with closing expected later this year.
- The purchase will be funded by 1.5 billion euros in new debt and has been approved by the boards of both Prada and Capri Holdings.
- Prada Chief Executive Andrea Guerra stated that the acquisition aims to build sustainable revenue growth and enhance Versace's brand identity.
- Versace, founded by Gianni Versace in the 1970s, will return to Italian ownership after being acquired by Capri Holdings in 2018.
333 Articles
333 Articles
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New Hampshire Union LeaderPrada braves tariff uncertainty to clinch $1.4 billion deal for Versace
Prada acquires Versace for $1.375 billion, including debt Deal strengthens Italy’s position in luxury fashion industry Prada aims to expand Versace’s potential with disciplined execution US Capri shares fall, extending downturn MILAN — Prada struck a $1.38 billion deal to buy smaller rival Versace from Capri Holdings CPRI.N on Thursday in a move that unites two of the biggest […] The post Prada braves tariff uncertainty to clinch $1.4 billion de…
Mode: with the acquisition of Versace, Prada wants to compete with the French luxury giants
On Thursday, April 10th, the Prada sewing house officially purchased its competitor Versace, who has been a member of an American group since 2018. Despite the trade war and the very high uncertainty Donald Trump places on world trade, Prada has jumped the pace. She spends almost $1.5 billion to try to create a heavy weight of Italian luxury.
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Is Prada x Versace The Italian Fashion Plot Twist We Didn’t See Coming?
Source: Valentina Frugiuele / Getty Big changes are happening in the world of high fashion— and we are trying to keep up. Today (April 10), Prada announced it’s buying its longtime Italian fashion rival, Versace, in a major deal valued at about $1.4 billion. This means the iconic house known for its bold Medusa motifs, gold gaudiness, and sultry silhouettes will join the same luxury family as Prada’s edgy yet sophisticated “ugly chic” and cool-g…
Prada to acquire rival fashion house Versace in whopping $1.4 Billion deal
Prada is set to acquire iconic Italian fashion house Versace in a major billion-dollar deal, aiming to bring together two of the world’s most renowned designer labels under one roof. The Prada Group announced on Thursday that the agreement, valued at approximately $1.36 billion (£1.06 billion), will significantly strengthen its position in the global luxury market. "We aim to continue Versace's legacy celebrating and re-interpreting its bold and…
Prada buys Versace for a gigantic sum
Prada buys the Versace fashion brand from the fashion concern Capri Holdings for €180 million cheaper than expected, for 1.25 billion euros. This ended months of speculation about the merger of the two great Italian fashion houses.
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