Clothing Prada takes over fashion house Versace
The Italian fashion house Versace will in future belong to Prada, another big name in the Italian and international fashion world. This was announced in Milan by the Prada Group, which also owns other luxury brands such as Miu Miu and Church's.
10.04.2025, 16:42
SDA
In recent years, Versace - named after the company founder Gianni Versace, who was murdered in 1997 - has been under the umbrella of the US company Capri Holdings. The purchase price was quoted at 1.25 billion euros.
There had been speculation about the takeover for months. However, according to the daily newspaper "Corriere della Sera", there were still a few obstacles to overcome. US President Donald Trump's punitive tariffs against other countries - including Italy - had also caused concerns, it said.
Purchase price lower than expected
The purchase price for the company, which was founded in 1978, is now lower than the sum of 1.5 billion euros that was originally being discussed. Prada has been around since 1913 and Capri Holdings also owns brands such as Michael Kors and Jimmy Choo.
Both Prada and Versace are among the biggest names in Italian fashion. Company founder Gianni Versace was murdered in the USA in 1997. A month ago, his sister Donatella Versace (69) stepped down from her post as creative director after almost three decades. Since April 1, she has only been Chief Brand Ambassador for the luxury brand. The new creative director is now Dario Vitale, who previously worked for Miu Miu.
