Prada Acquires Versace for $1.36 Billion
The acquisition will unite the two biggest luxury brands in the industry.
- Publish date: since 3 days
In a groundbreaking move that’s set to reshape the global fashion landscape, Prada has officially acquired Versace, one of Italy's most iconic luxury fashion houses.
On Apr. 10, 2025, Prada Group announced its acquisition of Versace in a deal estimated to be worth $1.36 billion. The acquisition includes the complete Versace brand, operations, and licensing rights, bringing together two of the most recognized names in fashion under one umbrella.
The Prada Group owns other luxury brands, including Miu Miu and Church's. The acquisition will help Prada and Versace compete with the luxury conglomerates LVMH and Kering.
Prada began negotiations to buy the Italian luxury brand from its owner, Capri Holdings, in February this year. The agreed price for the acquisition is significantly lower than what Capri purchased Versace for in 2018.
The deal includes Versace's debt pile since the brand has been experiencing a loss during the ongoing global luxury lowdown.
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The acquisition comes after Donatella Versace stepped down from Versace's creative director role after almost 30 years and took over the chief ambassador role for the brand in March this year.
The Prada-Versace acquisition is a landmark moment that signifies a bold, unified front for Italian luxury fashion. As two iconic brands with deep-rooted histories and forward-thinking visions join forces, the fashion world eagerly anticipates what comes next.
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FAQ
- Who currently owns Versace? In a billion dollar deal that shakes up the world of luxury fashion, Prada has agreed to buy Versace from its owner Capri Holdings.