Brief by Shorts91 Newsdesk / 05:59pm on 10 Apr 2025,Thursday Business
Italian luxury brand Prada will acquire Versace from Capri Holdings for €1.25 billion ($1.38 billion), creating a €6 billion Italian powerhouse. The deal, expected to close in late 2025, aims to counter French dominance by LVMH and Kering. Versace’s recent 15% revenue dip and Donatella Versace’s resignation as creative director paved the way. Dario Vitale of Miu Miu will now lead creative efforts. While Prada vows to preserve Versace’s identity, analysts warn of distraction risks. CEO Andrea Guerra emphasized long-term discipline, calling it a revival effort for Versace. The merger signals Italy’s bold response to France’s luxury fashion aggression.
