The Italian fashion group Prada is officially the new owner of Versace.
The Italian fashion group Prada Group takes over a hundred percent of the Versace shares for 1.25 billion euros, said Prada and the previous owner Capri on Thursday. The transaction is financed by 1.5 billion euros in new debts, which are made up of an appointment loan of 1 billion euros and a bridging facility of 0.5 billion euros, according to the press releases. The transaction is expected in the second half of 2025.
“In the past six years, we have made enormous progress in the repositioning of the brand to emphasize your luxurious heritage and your extraordinary craftsmanship,” said Capri CEO John Idol. “Through improved products, marketing and shops, the brand is now well positioned for sustainable long -term growth. We are convinced that the Prada Group is the perfect company to continue to lead Versace into the next era of growth and success.
Versace has thus become part of the Prada portfolio, but is retained his own creative DNA and its cultural authenticity. The brand will use industrial capacities, retail and operational expertise from the Prada Group. The Prada Group writes that Versace, with its “highly recognizable aesthetics” is a highly complementary addition “of the portfolio, which” has a significant growth potential by using several options for added value “.
Versace switches from Capri Holdings to Prada Group
“We are pleased to welcome Versace in the Prada Group and open a new chapter for a brand with which we share a strong commitment to creativity, craftsmanship and tradition,” said Patrizio Bertelli, Chairman of the Prada Group. “We want to continue Versace’s legacy by celebrating and reinterpreting the bold and timeless aesthetics; at the same time we will offer it a strong platform that has been strengthened and rooted in long -term relationships. Our organization is ready and well positioned to write a new page in the history of Versace by using the values of the group while continuing and striking Focus. “
“This transaction reflects our endeavor to increase the shareholder value, strengthen our balance sheet and to promote future growth of Michael Kors and Jimmy Choo,” continues Idol. “We will continue to implement the strategic initiatives that we presented at our latest investor day and are still confident about Michael Kors and Jimmy Choo’s long -term growth potential.”
This article was used with digital tools translated.
Fashionunited uses artificial intelligence to accelerate the translation of articles and improve the end result. They help us make the international reporting of fashionunited a German -speaking readership quickly and comprehensively accessible. Articles that have been translated using AI-based tools are read and carefully edited by our editor: Correcting inside before they are published. If you have any questions or comments, please contact me by email to [email protected]