Prada has announced the acquisition of a 100% stake in Versace from Capri Holdings.

Italian luxury fashion house Prada will take over full control of the Gianni Versace brand for $1.375 billion (approximately CZK 30 billion). One of the jewels of Italian fashion, Versace has been owned by American group Capri Holdings since 2018. Facing financial difficulties, Capri attempted to merge Versace with Tapestry last year. However, the deal was blocked by a New York court, reopening the door for Versace’s return to its fashion homeland.

In 2024, Versace generated revenues of €750 million but operated at a loss of €50 million. In contrast, Prada recorded a 20% increase in both revenue and profits in the same year, reaching €5.6 billion and €840 million respectively.

Speculation about the sale began in January of this year. In mid-April, Capri and Prada entered into a four-week exclusive negotiation period, which culminated in the signing of the agreement on April 10. The transaction is expected to be finalized in the second half of the year.