On April 10, Prada Group officially announced that it has reached a definitive agreement to acquire the Italian luxury brand Versace from U.S.-based Capri Holdings. Rumors surrounding the potential deal had been circulating in the industry since last month, but with the signing of this agreement, the acquisition has now become a reality. The purchase price, based on an enterprise value of €1.25 billion, is subject to adjustment at closing, depending on net working capital and net financial position.
Founded in Milan in 1978, Versace has gained global recognition as an icon of Italian luxury. With strong brand awareness and a distinct aesthetic, it is renowned for its ability to capture the spirit of contemporary society with precision.
Prada Group plans to support the continued growth of the Versace brand by respecting its creative DNA and cultural authenticity, while leveraging the Group’s industrial capabilities, retail execution, and operational expertise.
Patrizio Bertelli, Chairman and Executive Director of Prada Group, commented:
“We are delighted to welcome Versace to the Prada Group and to build a new chapter for a brand with which we share a strong commitment to creativity, craftmanship and heritage. We aim to continue Versace’s legacy celebrating and re-interpreting its bold and timeless aesthetic; at the same time, we will provide it with a strong platform, reinforced by years of ongoing investments and rooted in longstanding relationships. Our organisation is ready and well positioned to write a new page in Versace’s history, drawing on the Group’s values while continuing to execute with confidence and rigorous focus.”
Andrea Guerra, Group Chief Executive Officer, also emphasized that the acquisition represents a major milestone in the Group’s growth strategy:
“The acquisition of Versace marks another step in the evolutionary journey of our Group, adding a new dimension, different and complementary. The Group’s infrastructure is strong, we have verticalised our brands’ organisations and reinforced our routines and processes. We feel ready to open this new chapter. Versace has huge potential. The journey will be long and will require disciplined execution and patience. The evolution of a brand always needs time and constant focus. I would like to thank Capri Holdings for having preserved and enhanced the heritage of this wonderful brand. Notwithstanding the sector uncertainties, we look at the future with confidence, focused on a long-term strategic vision.”
The acquisition will be financed through €1.5 billion in new debt, consisting of a €1.0 billion term loan and a €0.5 billion bridge facility. The deal has already been approved by the boards of directors of both companies and is expected to close in the second half of 2025, pending customary closing conditions and regulatory approvals.
In this transaction, Prada Group is being advised financially by Citigroup Global Markets Europe AG and Goldman Sachs Bank Europe SE, Succursale Italia, and legally by Skadden, Arps, Slate, Meagher & Flom LLP. BNP Paribas and Intesa Sanpaolo are acting as the underwriting banks for the financing.
With this acquisition, Prada Group further strengthens its portfolio of prestigious brands, which already includes Miu Miu, Church’s, and Car Shoe, reinforcing its position in the global luxury market.
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