Prada aims to acquire Versace, with a deal worth €1.5 billion expected to finalize this month.

The Milanese company Prada is nearing the completion of a deal to acquire the Italian brand Versace from Capri Holdings Ltd. for nearly 1.5 billion euros. The transaction is expected to be finalized as early as this month. This information comes from Bloomberg, citing its sources, as reported by UNN.

Details

According to reports, Prada and Capri are set to sign an agreement, although sources indicate that there may still be changes in the valuation or the timeline for concluding negotiations.

The acquisition of Versace will enable Prada to strengthen its position in the global luxury market, where it is already successfully competing with giants like LVMH and Kering.

It is known that Capri acquired Versace in 2018 for 1.8 billion euros, but is now considering selling the brand due to a decline in its profitability, as Versace's revenues fell by 15% in the last quarter.

If the deal goes through, Prada will gain access to the renowned brand founded by Gianni Versace and will be able to create a more powerful Italian corporation to compete in the international market. The acquisition is also expected to be a significant step in strengthening Italian brands amid globalization.

The Versace brand is up for sale: potential buyer identified01.13.25, 05:13 • 67866 views