Prada has officially completed its long-anticipated acquisition of Versace in a landmark $1.375 billion deal that unites two of Italy’s most influential fashion houses. The agreement, announced after all regulatory approvals were secured, brings the famed Versace brand—known for its bold, signature silhouettes—into the Prada Group portfolio.
The takeover is expected to mark a major relaunch for Versace, which has struggled to maintain momentum in recent years under US luxury group Capri Holdings. Capri, owner of Michael Kors and Jimmy Choo, said proceeds from the sale will be used to reduce debt.
Donatella Versace Welcomes the Move
Donatella Versace publicly embraced the acquisition in an Instagram post that coincided with the birthday of her late brother, Gianni Versace, the brand’s legendary founder. Sharing a photo of Gianni with Miuccia Prada from 1996, she wrote: “Today is your day, and the day Versace joins the Prada family. I’m thinking of the smile you would have on your face.”
Her message served as both a tribute and an endorsement of the new direction for the house.
Lorenzo Bertelli to Lead Versace’s New Chapter
Prada confirmed that Lorenzo Bertelli—the group’s heir and current marketing and sustainability chief—will oversee Versace’s next era as Executive Chairman. The son of Miuccia Prada and longtime Prada chairman Patrizio Bertelli said he does not foresee immediate management changes but stressed that Versace, one of the world’s ten most recognizable luxury brands, has long underperformed its potential.
Prada highlighted that the 47-year-old label has “significant untapped growth opportunities,” signaling that strategic expansion and brand revitalization lie ahead.
Source: tovima.com
