Prada Group Seals Historic Versace Acquisition Creating Italian Luxury Powerhouse
The Prada Group, led by Miuccia Prada and Patrizio Bertelli, has officially announced the successful completion of its acquisition of Versace from Capri Holdings. This significant deal follows the securing of all necessary regulatory approvals, marking a pivotal moment for the Italian luxury conglomerate.
The agreement to acquire Versace from the US-based Capri Holdings Ltd. was initially reached in April, valued at approximately €1.25 billion ($1.45 billion). This transaction represents the largest acquisition in the 112-year history of the Prada Group. Notably, Capri Holdings itself had acquired Versace in 2018 for a sum of $1.8 billion (€1.55 billion), underscoring the brand's fluctuating ownership in recent years.
Strategically, the integration of the Versace brand brings a distinctive aesthetic to Prada's existing portfolio. Beyond expanding the stylistic range, this acquisition is poised to lay the groundwork for the emergence of a more substantial Italian luxury player, potentially enhancing its competitive standing against larger rival luxury groups on a global scale.
The expanded Prada Group now encompasses some of the most prestigious names in the luxury sector, including its eponymous Prada brand, Miu Miu, Church's, Car Shoe, the newly acquired Versace, Marchesi 1824, and Luna Rossa. This Milan-based company designs, produces, and distributes a wide array of collections across clothing, leather goods, footwear, and jewellery. Its global footprint spans over 70 countries, supported by a robust network of 620 company-owned stores, a direct e-commerce channel, and partnerships with selected e-tailers and department stores worldwide. The group also maintains licensing agreements in eyewear and beauty, operating 25 factories and employing 15,529 individuals globally (as of June 30, 2025, excluding Versace).
The finalization of the deal corroborates previous statements made by Prada Group CEO Andrea Guerra during a visit to the company's flagship facility in Scandicci, Florence, as reported by FashionNetwork.com. Concurrently with the deal's completion, Lorenzo Bertelli, 37, the eldest son of Miuccia Prada and Patrizio Bertelli—the driving forces behind the prestigious Italian group—will assume his new role as executive chairman of Versace, a position previously indicated to commence upon the deal's finalization. Complementing this managerial shift, the creative direction of the maison has been entrusted to Dario Vitale, formerly of Miu Miu, who successfully debuted his inaugural collection for Versace last September during Milan Women's Fashion Week.
