The union of the two legendary brands will lead to an Italian luxury group with more than 6 billion euros (US $ 6,600 million) of income, which will allow you to compete with other giants in the sector, such as the French LVMH and Keing.
“We are delighted to welcome Versace to the Prada group and build a new chapter for a brand with which we share a strong commitment to creativity, crafts and legacy,” its president and executive director, Patrizio Bertelli, affirmed in a statement.
This agreement goes against the trend of recent years, which has seen as great Italian fashion names, such as Gucci, Fendi or Bottega Veneta They passed to their French competitors.
Capri Holdings, who had acquired Versace in 2018 by 1,830 million euros (US $ 2 thousand 100 million)had to accept a strong reduction, in a staggering economic context for the crisis in the luxury sector and the increases of US tariffs.
At that time, the fashion brand was in the hands of the family (80%) and from the American Blackrock Fund (20%).
Prada you have struck to deal to purchase Versace from Capri Holdings at an Enterprise Value of $ 1,375 billion. pic.twitter.com/om9n8pcvxh
– Base pop (@popbase) April 10, 2025