Prada Acquires Versace for €1.25B

#Money

story

APR 11

Image copyright: Unsplash

story last updated APR 12

The Spin

Narrative A

The acquisition is a strategic opportunity to strengthen Italian luxury leadership, leverage Versace's iconic status and growth potential through Prada's industrial platform and corporate structure, and maintain the brand's distinctive heritage and creative vision.

The Business of Fashion Finimize

Narrative B

The sale of Versace at a significant discount reflects challenging market conditions and allows Capri Holdings to strengthen its balance sheet, reduce debt, and focus on growing its core Michael Kors and Jimmy Choo brands in an increasingly competitive luxury market.

Investing EuroNews