Prada Acquires Versace in Historic $1.4 Billion Deal

Prada shakes the fashion world with the announcement of its $1.4 billion acquisition of Versace.

The fashion world has been rocked once again: the Prada Group has confirmed its acquisition of the iconic Italian house Versace for €1.25 billion (approximately $1.4 billion). The deal, still pending official closure, is expected to be completed in the second half of this year, marking a significant step in Prada’s expansion as a luxury conglomerate.

This purchase marks a new chapter for Versace, which until now was owned by Capri Holdings, also the parent company of brands such as Michael Kors and Jimmy Choo. With this acquisition, Prada aims to add to its portfolio a brand with a strong identity, bold aesthetics, and a history deeply rooted in Italian design.

Versace will become the Prada Group’s third prêt-à-porter brand, joining Prada and Miu Miu. Although it will no longer be under the creative direction of Donatella Versace—who will remain as the brand’s ambassador—the new creative director, Dario Vitale, promises to carry on the legacy with a renewed vision.

This move positions the Prada Group as a potential Italian counterweight to French luxury giants such as LVMH and Kering, ushering in a new era in the battle for global dominance in the luxury sector.