A banking consortium, under the management of the US investment bank Goldman Sachs, should be willing to provide Prada a financing line of 2.5 billion euros in order to support the Italian fashion group in taking over Versace. This was reported by the Milan daily MF Fashion on Friday. Around 1.5 billion euros would be used for the acquisition, while the remaining billion euros should flow into the repositioning of Versace.
The company led by CEO Andrea Guerra continues to adhere to its “no-comment” strategy, which has been pursuing a possible takeover of Versace since the first rumors. As Guerra emphasized even when presenting the financial results for 2024, the group’s focus is on developing their own brands and only considering new acquisitions if there are strategic market opportunities.
The company, which includes the brands Prada, Miu Miu, Church, Car Shoe, Marchesi 1824 and Luna Rossa, recorded net sales of 5.4 billion euros – an increase of 17 percent compared to 2023 and above average. According to Patrizio Bertelli, President and Managing Director of the Prada Group, strategic foresight and outstanding product quality are the basis for this growth despite the challenges in the luxury segment. During an analyst: Interior and press conference also emphasized that the company was optimistic about 2025.
If new developments occur, these would only be announced after the negotiations have been completed-probably until April 10, if the exclusivity period for discussions with the current Versace owner Capri Holdings expires. In addition to Versace, the holding company also has Jimmy Choo and Michael Kors. In a few days, it could be shown whether the brand, which debuted 47 years ago with its first fashion show in the permanent in Milan, will return to Italian possessions.
This article was used with digital tools translated.
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