Prada completes the acquisition of Versace

Prada has finalized the acquisition of Versace, expanding its portfolio of luxury labels in a deal valued at around €1.3 billion. This strategic move strengthens the Italian group’s global presence and brings under its umbrella one of the world’s most recognizable fashion houses, known for its bold and glamorous identity.

The definitive agreement was reached in April for the purchase of Versace from Capri Holdings, following the collapse of its planned sale to Tapestry due to antitrust concerns. Lorenzo Bertelli, representing the Prada family, noted that the group had been interested in acquiring Versace for several years, with initial talks beginning during the pandemic and resuming once the Tapestry deal fell through.

Founded in 1978 in Milan by Gianni Versace, the brand will join Prada’s core labels, including Prada and Miu Miu. According to Bertelli, Versace met two essential criteria: manageable financial risk and strong brand value, ranking among the most renowned luxury names worldwide.

After nearly three decades under Donatella Versace’s creative direction, the brand’s creative leadership has recently passed to Dario Vitale, formerly in charge of Miu Miu’s design. This transition ushers in a phase of renewal and integration across the group, aiming to preserve Versace’s unique identity while aligning it with Prada’s broader strategy.

Prior to the acquisition, Prada reported net revenues of approximately €5.4 billion in 2024, marking a 17 percent increase over the previous year, and employed over 15,000 people. With Versace now part of the group, Prada becomes a luxury giant exceeding €6 billion in revenue and nearly 18,000 employees.

The Prada Group continues to build its identity on creative independence, innovation and sustainable development. Its products, including apparel, leather goods, footwear and jewelry, are distributed in more than 70 countries through 620 directly operated stores, its own e-commerce channels and selected retailers. The group is also active in eyewear and beauty through licensing agreements, supported by 25 production facilities.

This acquisition highlights Prada’s strategic approach in the global luxury market, expanding its product offering, strengthening brand recognition and unlocking new opportunities for international growth. By investing in an already established name like Versace, the group reduces financial uncertainty while increasing long-term value potential.