Versace acquired by Prada Group

Prada agreed on 10 April 2025 to acquire the whole of Versace from Capri Holdings, at an enterprise value of €1–10bn on a debt and cash free basis, and completed the transaction on 2 December 2025 following receipt of the required regulatory clearances. The consideration remained subject to closing adjustments for working capital and net financial position, incorporated substantial tax losses carried forward, and was financed through new debt comprising a term loan and a bridge facility underwritten by BNP Paribas and Intesa. Founded in Milan in 1978, Versace designs and distributes ready-to-wear, leather goods, footwear, accessories and home furnishings, operating through directly managed stores, wholesale channels and licences covering eyewear, fragrances and jewellery. Revenue amounted to €450–900M in 2024. The seller had itself been seeking an exit, the 8.5 billion dollar offer from Tapestry for the whole of Capri Holdings having been blocked by an American court in October 2024 at the request of the Federal Trade Commission, after which the group required proceeds to reduce its indebtedness and concentrate its resources on Michael Kors and Jimmy Choo. The repositioning plan provides for an increase in the proportion of sales made at full price, a reduction in reliance on the outlet channel, the closure of the Versace Jeans Couture line and the revival of the Atelier Versace couture collection, which had not been presented on a runway since 2016. Donatella Versace stepped back from creative direction in March 2025 and Pieter Mulier, previously of Alaïa, assumed the role from July 2026, with a first collection expected in early 2027. Citigroup and Goldman Sachs acted as financial advisers to Prada, with Skadden, Arps as legal counsel, while Barclays advised Capri Holdings.

In the past, Versace was acquired by Blackstone in 2014 as part of its expansion strategy.