Prada, Italy's most popular and luxurious clothing brand, realized its long-standing aspirations and strategic plans by acquiring the Versace brand for $1.5 billion. CNN reported this.
The official trade agreement between Prada and Versace was signed in April 2025. The company acquired Versace from Capri Holdings for €1.3 billion ($1.51 billion). This also happened after the trading process was delayed due to the opposition of antitrust authorities related to Capri's sale to Tapestry.
Lorenzo Bertelli, son of Prada's owners Miuchcha Prada and Patrizio Bertelli, announced in a November interview with Reuters that he would personally assume the position of executive chairman of Versace after the integration process was completed. According to him, Prada had been striving for this agreement for several years.
According to Lorenzo Bertelli, "Even during the COVID era, we had contact with Capri. Negotiations were held even before the sale to Tapestri. After this agreement was terminated due to antitrust, we decided to accelerate every action. This was, of course, a long-awaited important step."
The Versace brand was founded in 1978 by Gianni Versachi in Milan and is known worldwide for its modern and attractive aesthetics. Currently, this brand enters a new phase of global fashion with its inclusion in the Prada group. The Prada group also includes the rapidly growing Miu Miu brand.
One of the most important news for everyone, in March, Donatella Versachi announced the end of Versace's creative directorship. He was succeeded by Dario Vitale, who was design director of Miu Miu.
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