Speculation about a possible sale of Versace continues to grow.
According to current reports, the Italian luxury group Prada is said to be interested in taking over the brand. This is reported by the Italian newspaper Il Sole 24 Ore, which states that Prada is examining the deal in collaboration with the Italian bank Citi.
The media suggests that Miu Miu’s parent company is among a number of potential buyers considering a takeover of Versace. The brand is reportedly up for sale following a decision by parent company Capri Holdings.
Although Capri has not yet officially confirmed this decision, several industry media sources have reported that the company is looking for buyers for Versace and Jimmy Choo together with investment firm Barclays.
The exact sales format remains unclear, but there is speculation that Barclays is considering an auction that would require interested parties to submit their bids over multiple rounds. In addition, the news portal Reuters reported that a complete sale of Capri has not been ruled out.
Capri’s future had already become uncertain earlier this year after an $8.5 billion merger with Tapestry was blocked by an antitrust lawsuit from the Federal Trade Commission (FTC). Following the announcement of this decision, Capri’s shares experienced a significant decline in value and the merger agreement was ultimately terminated.
This article previously appeared on Fashionunited.uk and was created using digital tools translated.
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