Founded in 1978 in Milan, Versace has established itself as one of the global symbols of Italian luxury. With its bold and instantly recognisable aesthetic, the brand is a strategic addition to the Prada Group’s portfolio. It still has strong development potential, which Prada intends to activate through its industrial and commercial infrastructures. The marriage between the two legendary brands will create an Italian luxury goods group with sales of over €6bn, better placed to compete in the long term with industry giants such as LVMH and Kering. Despite this change of ownership, Versace will retain its creative DNA and cultural authenticity, while benefiting from the Prada Group’s consolidated expertise: industrial excellence, prestige distribution and operational rigour.
“We are delighted to welcome Versace to the Prada Group,” said Patrizio Bertelli, chair and executive director, in a statement. “We share a common passion for creativity, craftsmanship and heritage. We want to celebrate and reinterpret Versace’s timeless aesthetic while providing it with a strong platform.”
For his part, Andrea Guerra, CEO of the Prada Group, said: “This acquisition adds a new and complementary dimension to our group. Versace has enormous potential. This journey will require rigour, patience and disciplined execution.”
Financing will be provided by €1.5bn of new debt, split between a €1bn term loan and a €500m bridging loan. The transaction has been approved by the boards of Prada S.p.A. and Capri Holdings. It is expected to be completed in the second half of 2025, subject to customary regulatory approvals.
The Prada Group owns some of the world’s most prestigious luxury brands--Prada, Miu Miu, Church’s, Car Shoe, the historic patisserie Marchesi and Luna Rossa--and is constantly working to strengthen their value by increasing their visibility and appeal. It designs, manufactures and distributes ready-to-wear collections, leather goods and footwear in over 70 countries, through a network of 609 shops, as well as through its e-commerce channels, selected e-commerce platforms and international department stores. The group, which also operates in the optical and beauty sectors via licensing agreements, owns 26 factories and employs 15,216 people.
This article in French.