Legend's return — everything we know about Prada and Versace deal

Versace will rejoin the Italian fashion industry. Prada Group has announced that it is buying the brand from Capri Holdings for USD 1.38 billion.

It was reported in the article by the Bloomberg news agency.

Prada buys Versace — details

The final amount could still be different, as analysts will assess Versace's working capital and net debt during or after the deal closes. Nevertheless, the deal, which is expected to be completed by the end of 2025, will be the largest for Prada, whose history began 112 years ago.

"The acquisition of Versace marks another step in the evolutionary journey of our group, adding a new dimension," Andrea Guerra, CEO of Prada, emphasized.

Despite the fact that Versace is still the recognisable and well-known brand in the world, its best period in history remained in the 1980s and 1990s. Due to financial difficulties, the company came under the control of Capri Holdings Ltd in 2018, but hopes that this deal would increase profits did not materialise. 

Interestingly, Versace will become part of Prada with the new creative director. In March 2025, the brand announced that Donatella Versace would no longer be the creative director. The woman took over the company back in 1997, after the tragic death of her brother Gianni Versace. 

According to journalists, negotiations on the acquisition of Versace were difficult, as they took place against the backdrop of global market turmoil due to the announcement of new import tariffs by the President of the United States Donald Trump.

Earlier, we told you that the company Apple's products may rise significantly due to Trump's tariffs.

It is also worth reminding you that Amazon plans to buy out TikTok. Analysts have predicted how this deal will affect the social media market.