Deal done. The Versace brand is moving from Capri Holdings to Prada Group for €1.25 billion: the announcement was made via official press releases from both companies. The Jimmy Choo brand will remain with Capri. This ends speculation surrounding uncertainty due to the turbulence caused by Trump’s decisions.The luxury company, founded 46 years ago by Gianni Versace and developed under the creative direction of Donatella Versace, is thus returning to Italian hands.
Deal done
The long-awaited official announcement has arrived: Versace now belongs to the Prada Group. In a statement, Prada emphasized that the final price includes “a significant value of tax losses carryforward.” Additionally, Capri Holdings will finance some of the transaction-related costs. Prada has also secured a new €1.5 billion loan. The transaction is expected to close in the second half of 2025, subject to customary closing conditions, including regulatory approvals.
Aiming for Continuity
“Our goal is to give continuity to Versace’s legacy,” says Patrizio Bertelli, Chairman of Prada Group. “We aim to celebrate and reinterpret its bold and timeless aesthetic. We’ll offer a solid platform, strengthened over the years through ongoing industrial and distribution investments. Our organization is ready and well-positioned to write a new chapter in Versace’s history, leveraging the group’s values and continuing to operate with confidence and determined discipline.”
Enormous Potential
Andrea Guerra, CEO of Prada Group, looks to the future: “We feel ready to begin this new chapter. Versace has enormous potential. The journey will be long and will require patience and disciplined execution. The evolution of a brand takes time and constant care.”
Idol’s Perspective
Strengthening the balance sheet. Enabling accelerated strategic investments in Michael Kors. Increasing shareholder value. These are the advantages the Versace sale brings to Capri Holdings. According to CEO John Idol: “Thanks to intense product work, marketing, and store improvements, the Versace brand is now well-positioned for long-term sustainable growth.”
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