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Italian luxury brand Prada on Thursday confirmed its acquisition of Versace from the U.S.-based Capri Holdings in a cash deal worth around $1.4 billion. This marks the biggest acquisition in Prada ...
Prada Group is buying Versace from Capri Holdings for $1.38 billion, significantly less than the $2.1 billion Capri paid in 2018.
When his company, Capri Holdings, acquired the fashion house in 2018, he said his strategy would double the brand’s revenue over the next decade. Six years later, that vision has unravelled.
For Versace, the deal both literally and symbolically represents a return to Italy. Since 2018, the brand has been owned by the American company Capri Holdings alongside Michael Kors and Jimmy Choo.
Prada said Thursday that it had reached a deal to buy Versace for 1.25 billion euros ($1.38 billion), building a new Italian ...
is buying Versace from Capri Holdings Ltd., which paid $2 billion for the brand in 2018. The purchase, the largest in Prada’s 112-year history, returns Versace to Italian ownership and could put ...