Prada buys Versace for $ 1.4 billion

The Italian Prada Fashion House has agreed to buy a competing Versace brand from the American Capri Holdings holding for $ 1.375 billion, including company debts. The transaction unites the two largest names in Italian fashion and strengthens Italy’s position in the luxury industry, reports Reuters.

“We will strive to continue the legacy of Versace, glorifying and rethinking it of the bold and unquenchable time aesthetics,” said Patriczi Bertelly, chairman of the Prada board of directors.

Buying a Prada Fashion House Versace will create a conglomerate with a turnover of about six billion euros, which can compete with the largest players of this market - French LVMH and Kering, AFP notes .

• The fashion house Versace was founded by designer and designer Gianni Versace in 1978. In 1997, after the murder of the founder of Versace, the fashion house was headed by his sister Donatella Versace. In March 2025, it became known that Donatella Versaceleaves the post of creative director Versace.
• The fashion house Prada was founded in 1913. Now he is headed by Miuccia Prada. 80% of the company still belongs to the Prada family.