Prada puts the brakes on Versace: “The dossier is on everyone’s table”, Miuccia Prada said on the sidelines of the fashion show, reiterating concepts expressed by group CEO Andrea Guerra, who had denied being in exclusive negotiations with Capri Holdings. Exor meanwhile sells Ferrari shares and creates a treasury for M&A deals.
Prada puts the brakes on Versace
When everyone is taking it for granted, Miuccia dampens the enthusiasm of reporters seeking confirmation on the Prada-Versace deal. The fashion designer and co-owner of the fashion brand said the Versace dossier “is on everyone’s table” and that she doesn’t know how the matter may end, Bloomberg writes. Words that confirm what she had told MFF the day before Guerra, with regards to the €2 billion Versace and Jimmy Choo double deal.
“I think Capri is offering these brands to many realities. We remain focused on the growth of our labels. My impression is that the entity is offering these brands a bit everywhere to sell them. Maybe there is hesitancy about the accounts”. When asked if the news of exclusive negotiations was true, the manager said, “Ah, I don’t think so, I hear a lot of other people interested“. These answers could also represent a tactic to ease the pressure and soften Capri Holdings’ claims.
Meanwhile, Exor saves cash
Several quarters point to Exor, holding company of the Agnelli-Elkann family, among the suitors of Versace. And it hints at the fact that it has sold 4% of Ferrari, raising about 3 billion euros, “to finance potential new M&A deals“, as Reuters writes. More precisely, this transaction is to stockpile ammunition for “a sizeable new acquisition when such an opportunity arise”. Associating this statement with the deal-Versace becomes automatic.
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