After long courtship, Versace becomes part of Prada

2025-12-03 06:03:52

Prada (1913.F), opens new tab said on Tuesday it had completed the acquisition of smaller Italian rival Versace, a brand the luxury group said it had long coveted.

Prada signed a definitive agreement in April to buy Versace from U.S.-based Capri Holdings for about 1.3 billion euros ($1.5 billion), after Capri's sale to Tapestry (TPR.N), opens new tab was scrapped in the wake of a challenge by antitrust regulators.

Founded in 1978 by Gianni Versace in Milan, the brand renowned for its bold, glamorous aesthetic will join the group's two main labels – its namesake Prada and the smaller but fast-growing Miu Miu. It marks a sharp strategic shift for Prada.