Prada Group has acquired the fashion brand Versace from Capri Holdings for €1.2 billion ($1.4 billion), marking a significant move in the luxury fashion sector. Versace, known for its bold designs and iconic motifs, was seen as having untapped growth potential, according to Prada’s CMO Lorenzo Bateri. The acquisition is expected to close later this year and will be financed through €1.5 billion in new debt.
Prada CEO Andrea Guerra emphasized the goal of fostering sustainable revenue growth and enhancing Versace’s brand identity rather than integrating operations. There will be no changes to Versace’s current leadership structure, with Donatella Versace remaining as creative director, independent of the acquisition.
The deal is strategically important for Prada, as Versace will contribute to approximately 13% of the group’s revenues. The Italian government has also welcomed the acquisition, highlighting the brand’s return to Italian ownership. Overall, Prada seeks to leverage Versace’s recognizable aesthetic without altering its core identity.
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