Prada Group Finalizes Acquisition of Versace from Capri Holdings

The Prada Group has officially concluded its acquisition of the esteemed Milanese fashion house, Versace, from the American conglomerate Capri Holdings. This significant transaction was valued at approximately 1.375 billion US dollars, which translates to about 1.25 billion euros. This takeover marks the largest acquisition in the 112-year history of the Prada Group. It is anticipated that this move will enhance Prada’s competitive edge against global market leaders like Kering and LVMH. For Versace, this acquisition signals a return to Italian ownership and management.

Strategic leadership changes were set in motion well before the deal's finalization. Lorenzo Bertelli, heir to the Prada dynasty and formerly holding roles as Marketing Director and Head of Sustainability at Prada Group, has assumed the position of Executive Chairman at Versace. Bertelli revealed that discussions to acquire Versace commenced during the COVID-19 pandemic. The process gained momentum after Capri's preceding deal with Tapestry fell through due to antitrust regulatory hurdles. He emphasized that Versace has historically underperformed relative to its global recognition, identifying substantial untapped growth potential.

The creative direction of the House has also undergone notable shifts. Beginning in April 2025, Dario Vitale took the helm as the new Chief Creative Director, succeeding Donatella Versace. Vitale previously served as Design Director at Miu Miu. A 2006 graduate of Istituto Marangoni, Vitale spent nearly 15 years at Miu Miu, where his leadership contributed to a 93% surge in retail sales in 2024. Vitale unveiled his inaugural collection for Versace, Spring/Summer 2026, in September 2025 during Milan Fashion Week, opting for an intimate presentation format rather than a conventional runway show.

Donatella Versace, who guided the creative vision for nearly three decades, transitioned to the role of Global Brand Ambassador effective April 1, 2025. In this capacity, she continues to champion the House's core philosophy and its charitable endeavors. This move allows her to remain connected to the brand while stepping back from day-to-day creative responsibilities.

Concurrently, the Prada Group is actively integrating Versace into its existing operational framework. This includes leveraging Prada’s manufacturing capabilities, such as its leather goods facility in Scandicci, as part of the comprehensive relaunch roadmap for Versace.

Industry analysts generally agree that this acquisition significantly bolsters the standing of Italian luxury brands amidst the ongoing global expansion of French and American conglomerates. Following the announcement of the sale, shares of Capri Holdings experienced a slight dip, closing at $25.20 per share. The proceeds from the sale are earmarked for the repayment of corporate debt. The Prada Group, which reported a 14% sales increase in the first half of 2024, aims to utilize this purchase to strengthen its luxury portfolio by providing Versace with access to its extensive international infrastructure.