Prada Group today announced that it has entered into a definitive agreement to acquire 100% of Versace from Capri Holdings. The luxury fashion brand constitutes a strongly complementary addition to the Prada Group’s portfolio and displays significant growth potential leveraging multiple value creation levers.
Versace Fall 2025
Within the Prada Group, Versace will maintain its creative DNA and cultural authenticity, while benefitting from the full strength of the Group’s consolidated platform, including industrial capabilities, retail execution and operational expertise.
“We are delighted to welcome Versace to the Prada Group and to build a new chapter for a brand with which we share a strong commitment to creativity, craftsmanship and heritage,” Prada Group chairman and executive director Patrizio Bertelli said in a statement. “We aim to continue Versace’s legacy celebrating and re-interpreting its bold and timeless aesthetic; at the same time, we will provide it with a strong platform, reinforced by years of ongoing investments and rooted in longstanding relationships. Our organisation is ready and well positioned to write a new page in Versace’s history, drawing on the Group’s values while continuing to execute with confidence and rigorous focus.”
Versace was put up for sale by Capri -parent of Michael Kors and Jimmy Choo- after the company’s merger with Tapestry -owner of Coach, Kate Spade and Stuart Weitzman- was blocked by the US Federal Trade Commission in November 2024. Capri — at the time, Michael Kors Holdings — acquired Versace in January 2019 for over $2.1 billion.
“The acquisition of Versace marks another step in the evolutionary journey of our Group, adding a new dimension, different and complementary,” Andrea Guerra, Prada Group CEO, said in a statement. “The Group’s infrastructure is strong, we have verticalised our brands’ organisations and reinforced our routines and processes. We feel ready to open this new chapter. Versace has huge potential. The journey will be long and will require disciplined execution and patience. The evolution of a brand always needs time and constant focus. I would like to thank Capri Holdings for having preserved and enhanced the heritage of this wonderful brand.”
Versace joins Prada with a new chief creative officer. On 13 March, the luxury fashion brand announced that Donatella Versace would be stepping down into a new chief brand ambassador role, after nearly 30 years. Dario Vitale has been appointed creative director for the house. He joins Versace from Miu Miu where he was formerly the Design and Image Director.
Jasmeen Dugal is Associate Editor at FashionABC, contributing her insights on fashion, technology, and sustainability. She brings with herself more than two decades of editorial experience, working for national newspapers and luxury magazines in India.
Jasmeen Dugal has worked with exchange4media as a senior writer contributing articles on the country’s advertising and marketing movements, and then with Condenast India as Net Editor where she helmed Vogue India’s official website in terms of design, layout and daily content. Besides this, she is also an entrepreneur running her own luxury portal, Explosivefashion, which highlights the latest in luxury fashion and hospitality.
