It's official: Prada acquires Versace for 1.25 billion euros

Italian fashion group Prada is officially the new owner of Versace. As the fashion world already predicted, Prada Group and Capri Holdings Limited have just announced that Versace has been acquired for 1.25 billion euros.

Prada Group will take over 100 percent of Versace’s shares in a transaction financed by 1.5 billion euros of new debt consisting of a one billion euro term loan and a 0.5 billion euro bridge facility, according to press releases. The transaction is expected to close in the second half of 2025.

Versace has thus become part of the Prada portfolio but will retain its own creative DNA and cultural authenticity. The brand will leverage Prada Group’s industrial capabilities, retail, and operational expertise.

Prada Group writes that Versace, with its "highly recognisable aesthetic, is a strongly complementary addition" to the portfolio that "demonstrates significant growth potential by leveraging multiple value creation opportunities".

Versace goes from Capri Holdings to Prada Group

"We are delighted to welcome Versace to the Prada Group and begin a new chapter for a brand with which we share a strong commitment to creativity, craftsmanship, and heritage,” said Patrizio Bertelli, chairman and executive director of Prada Group. “We want to continue Versace's legacy by celebrating and reinterpreting its bold and timeless aesthetic; at the same time, we will provide it with a strong platform, strengthened by years of continuous investment and rooted in long-lasting relationships. Our organisation is ready and well-positioned to write a new page in Versace's history, leveraging the group's values, while continuing to execute with confidence and strict focus.”

John D. Idol, chairman and CEO of Capri Holdings Limited, reports: “Versace is an iconic Italian luxury fashion house founded 46 years ago by Gianni Versace and further developed under the creative vision of Donatella Versace. Over the past six years, we have made tremendous progress in repositioning the brand to place greater emphasis on its luxury heritage and exceptional craftsmanship. Through improved products, marketing, and stores the brand is now well-positioned for sustainable long-term growth. We are confident that Prada Group is the perfect company to further guide Versace into its next era of growth and success.

“This transaction reflects our commitment to increasing shareholder value, strengthening our balance sheet, and driving the future growth of Michael Kors and Jimmy Choo. We will continue to execute the strategic initiatives we shared during our recent Investor Day and remain confident in the long-term growth potential of Michael Kors and Jimmy Choo.”