Editor’s Note
This article reports on the Prada Group’s acquisition of Versace from Capri Holdings, marking a significant return of the iconic brand to Italian ownership.
Milan-based Prada Group has concluded a “definitive agreement” with American Capri Holdings to acquire 100% of Versace. The iconic brand returns to Italian ownership despite recent turbulence in the financial markets.
Versace is becoming Italian again. After four weeks of exclusive negotiations with American Capri Holdings, the parent company of the Medusa brand, Prada Group announced this Thursday that it has concluded a “definitive agreement” to take over 100% of the iconic label for €1.25 billion. The union of these two legendary brands will create a transalpine luxury group with a revenue of over €6 billion.
The deadline for the exclusive negotiations that began a month ago was this Thursday, April 10th. The deadline was met despite the turbulence that has shaken the financial markets in recent weeks. The announcement of the agreement comes the day after the dramatic turn of events that saw Donald Trump announce, on Wednesday, April 9th, the temporary suspension of the sudden tariff increases that were set to hit Europe.