Prada Group buys Versace fashion house from its U.S. owner in a deal valued at $1.4B
Prada acquires Versace in a 125 billion euros deal marking a major shift in Italian luxury fashion ownership
PTI
-
Prada inches closer to $1.4B deal for Versace
Rome, 10 April
The Prada Group announced the purchase of the Versace fashion house from the U.S. luxury group Capri Holding in a cash deal valued at 1.25 billion euros ($1.4 billion.)
Versace has been owned since 2018 by the Capri Holding, which includes Michael Kors and Jimmy Choo.
Capri Holding paid $Two billion for Versace, but had been struggling in the recent era of 'quiet luxury' to position the stalwart of Italian fashion with its sexy silhouettes and loud patterns.
Share Now
Leave a Reply
Your email address will not be published. Required fields are marked *
Other Stories
.jpg)
.jpg)
.png)
.png)
.png)
