Prada has officially acquired Versace from Capri Holdings in a €1.25 billion deal, marking a significant moment in Italy’s luxury fashion history. The transaction comes after months of speculation and negotiations, with Prada securing the iconic brand at a €180 million discount due to market disruptions caused by trade uncertainties.
Capri Holdings had initially purchased Versace for $2.1 billion in 2018 but opted to sell to reduce its debt after facing regulatory challenges in expanding its own portfolio. Prada, one of the earliest bidders, successfully closed the deal and has ambitious plans to shape Versace’s future alongside its existing luxury brands, including Miu Miu and Church’s.
While the luxury market has faced slowdowns globally, Prada has defied trends with impressive growth, reporting €5.4 billion in revenues last year—a 17% increase driven in part by the success of Miu Miu.
The acquisition also includes a leadership shakeup, as Dario Vitale replaces Donatella Versace as creative director, with Donatella transitioning to the role of chief brand ambassador to focus on philanthropy and red-carpet styling.
This merger not only consolidates Prada’s position as an Italian powerhouse but also offers the opportunity to further the global impact of the "Made in Italy" legacy in luxury fashion.