Prada has officially acquired Versace in a $1.375 billion cash deal, marking a significant consolidation in the luxury fashion industry. This acquisition brings together two Italian fashion giants, with Versace’s bold, glamorous aesthetic complementing Prada’s minimalist and intellectual style.
The deal is expected to relaunch Versace’s fortunes, which had struggled post-pandemic under Capri Holdings. Prada plans to leverage its industrial capabilities, global retail execution, and operational backbone to revive Versace’s growth. Lorenzo Bertelli, Prada’s heir, will become Versace’s executive chairman, overseeing the brand’s next phase.
Key Highlights:
– Acquisition Details: Prada acquires 100% of Versace, with the deal valued at $1.375 billion.
– Brand Positioning: Versace will retain its creative DNA and cultural authenticity, operating alongside Prada and Miu Miu.
– Growth Potential: Prada sees significant untapped growth potential in Versace, aiming to restore its premium positioning.
– Leadership: Lorenzo Bertelli takes the helm as executive chairman, with Dario Vitale leading creative direction.
This acquisition reshapes the luxury fashion landscape, creating a formidable European rival to LVMH and Kering. Prada’s disciplined supply chain, retail optimization, and proven ability to scale Miu Miu are expected to drive Versace’s revival.
