Prada Group has finalized a deal to acquire Versace for $1.375 billion

Prada Group has completed the acquisition of Italian fashion house Versace for $1.375 billion. The move brings together three iconic brands — Versace, Prada, and Miu Miu — under one corporate management.

The acquisition aims to restore Versace’s financial stability, which has been challenged under Capri Holdings’ leadership in recent years. For Prada Group, it is also a strategic step towards creating a strong holding company capable of competing with the leading players in the fashion industry. Prada has long sought to realize this deal.

The deal must be signed on the brand’s founder, Gianni Versace’s, birthday. Donatella Versace, his sister, expressed her emotions in a message: “Today is your day, and Versace becomes part of the Prada family. I always remember your smile. I miss you very much.”

With the changes, Lorenzo Bertelli, the son of Miuccia Prada and Patrizio Bertelli, has been appointed CEO of Versace. Dario Vitale, who previously worked at Miu Miu, will now be responsible for the brand’s creative direction. Thus, Donatella Versace ends her almost thirty-year career as creative director.

This stage marks a new chapter in the history of one of the most famous Italian fashion houses. It represents an ambitious step towards expanding the Prada Group on the global fashion scene.