Prada Group just dropped 1.25 billion euros to snag Versace from Capri Holdings, which means the Milan powerhouse behind Prada and Miu Miu now controls another legendary Italian brand. Capri picked up Versace back in 2018 for around 2.1 billion, but the label's been struggling with declining sales lately.
The deal puts Prada in a better position to fight against giants like LVMH and Kering, and it keeps Versace under Italian ownership instead of letting it drift further away from its roots. Gianni Versace started the brand in 1978, and people are hoping Prada can bring back some of that old magic after a rough stretch.
The deal puts Prada in a better position to fight against giants like LVMH and Kering, and it keeps Versace under Italian ownership instead of letting it drift further away from its roots. Gianni Versace started the brand in 1978, and people are hoping Prada can bring back some of that old magic after a rough stretch.
