Prada Group to Acquire Versace for €1.25 Billion, Expanding Luxury Fashion Portfolio with Iconic Italian Brand

The Prada Group has announced an agreement to acquire the Italian fashion house Versace from the U.S.-based luxury group Capri Holdings. The deal, disclosed on Thursday, values Versace at approximately 1.25 billion euros, equivalent to around $1.4 billion. This acquisition marks a significant expansion for Prada, which aims to integrate Versace’s distinct aesthetic into its existing portfolio of fashion brands, including Prada and Miu Miu.

According to Prada, the inclusion of Versace is seen as a complementary addition that will enhance the group’s brand offerings. Versace is renowned for its unique and recognizable style, which Prada believes will align well with its current fashion lines. The acquisition is set to be financed through 1.5 billion euros in new debt, a move that has received approval from the boards of directors of both Prada and Capri Holdings.

The transaction is expected to be finalized in the latter half of the year, with the final value subject to adjustments at the time of closing. This strategic move by Prada underscores its commitment to maintaining Versace’s creative identity and cultural authenticity while leveraging the strengths of the Prada Group.

This acquisition reflects a broader trend in the luxury fashion industry, where major brands are seeking to expand their influence and market share through strategic acquisitions. By incorporating Versace, Prada aims to bolster its position in the competitive luxury fashion market, offering a diverse range of styles to its global customer base.