Prada completes acquisition of Versace for €1.25 billion — Vogue
The Prada Group has officially completed the acquisition of Italian fashion house Versace for €1.25 billion (approximately $1.37 billion).
This was announced by reports Vogue.
Announced in April 2025, this deal is the largest in the Prada Group's 112-year history. Symbolically, the transaction was completed on December 2, the birthday of legendary designer Gianni Versace, who died in 1997.
Prada received all necessary regulatory approvals, including approval from the European Commission in September.
Versace moved to Prada from the American holding company Capri Holdings, which acquired the brand in 2018 for €1.8 billion.
Capri Holdings CEO John D. Idol said the proceeds from the sale will be used to pay off most of the company's debt, significantly strengthening its balance sheet.
He added that this would provide greater financial flexibility to invest in the development of the holding's other brands — Michael Kors and Jimmy Choo.
Prada Group CEO Andrea Guerra said during an investor conference: “We are ready for this journey.”
As a reminder, the Prada fashion house presented a spacesuit for landing on the moon.
Luxury brands Swatch Group, Prada, and Fendi have also begun to close stores in Russia.
