The Milan Fashion Week ends today, and new details about the unconfirmed deal between the Prada Group and Capri Holdings seem to appear with regard to the takeover of Versace by the company led by CEO Andrea Guerra.
The transaction is to be supported by Lorenzo Bertelli, the son of the founder of the Prada Group, as reported by the Italenian daily Corriere Economia. The value of the transaction would amount to around 1.5 billion euros.
Between October and December 2024, Versace recorded a decrease in sales from $ 193 million and an operational loss of $ 21 million. The financial year of the US Capri Holdings ends at the end of March, and according to the estimates that were published last month during the investor day in New York, Versace’s turnover is likely to amount to $ 810 million. A balanced result is not expected before 2026. In detail, Capri Holdings expects total sales of $ 4.4 billion for 2025. The forecast is divided into $ 3 billion from Michael Kors, $ 810 million from Versace and $ 600 million from Jimmy Choo.
In the meantime, the tension on Prada’s presentation of the results for 2024, which is scheduled for Tuesday, is increasing. Perhaps the management of management can better satisfy the curiosity of the market.
As of September 30, 2024, Prada Spa recorded net sales of 3.829 billion euros, which corresponds to an increase of 18 percent compared to the previous year. The retail turnover was 3.425 billion euros, an increase of 18 percent compared to the previous year. Prada achieved an above -average market performance with retail sales growth of 4 percent compared to the previous year. “Miu Miu continues to record excellent growth with an increase of 97 percent in retail sales compared to the previous year,” said management in a message from last October.
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