Prada Group has agreed to acquire 100% of the iconic Italian brand Versace from Capri Holdings for $1.375 billion (€1.25 billion) in an all-cash deal — a transaction set to reshape the global luxury fashion landscape. Versace will retain its hallmark creative vision while drawing on the extensive industrial and operational strength of the Prada Group.
A Landmark Deal for Italian Luxury Fashion
The Prada Versace acquisition is one of the largest fashion deals of the year. The agreement is expected to close by the end of 2025, subject to customary regulatory approvals.
Versace was founded in 1978 by Gianni Versace, who built the brand into a symbol of bold style and strong cultural identity — a DNA the house carries to this day. Its return to Italian ownership under Prada marks a significant new chapter for one of fashion's most recognisable names.
Prada Group's Vision for Versace
Prada Group Chairman Patrizio Bertelli welcomed the deal with a clear statement of intent:
"We are happy to announce that Versace is joining the Prada Group, where we shall create a new chapter for a brand with whom we share the same passion for creative impulse, craftsmanship and heritage."
Bertelli added that Prada's platform — built on years of investment and retail expertise — is well-positioned to elevate Versace's global prominence while preserving its unrivalled aesthetic.
Markets Respond Strongly to the Capri Holdings Versace Sale
Financial markets reacted positively to the announcement. Capri Holdings shares rose 31.09% on the New York Stock Exchange, while Prada shares climbed 4.93% on the Hong Kong Stock Exchange.
Capri Holdings CEO John D. Idol expressed confidence in the outcome: "Versace is well positioned for sustainable long term growth with today's move. We believe Prada Group is the perfect place for it to flourish to achieve its next era of success."
What the Deal Means for Capri Holdings
The $1.375 billion sale strengthens Capri Holdings' balance sheet and frees capital to pursue growth strategies for its remaining luxury brands — Michael Kors and Jimmy Choo. The sale also positions Versace to benefit from Prada's global retail network and longstanding relationships across the luxury sector.
