Prada acquires Versace in $2.2 billion deal
Update: 2025-12-03
Description
Prada has completed a $2.2 billion takeover of Versace after a six-month regulatory approval process, bringing two of Italy's most culturally significant luxury brands under the same ownership. The acquisition comes after Versace faced financial difficulties following the pandemic, with parent company Capri Holdings putting the brand up for sale in February. Prada plans to revitalise Versace and return it to its Italian manufacturing roots under new creative designer Dario Vitale.
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