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NEWS: Prada is buying Versace in a $1.4 billion all-cash deal.
The bold move adds another iconic label to Prada Group’s portfolio—which already includes Prada and Miu Miu—and cements its spot in the global luxury power rankings.
The deal is expected to close in the second half of 2025.
Versace, which brought in $1.03B in revenue last year but saw profits drop 83%, has struggled under Capri Holdings. Prada plans to keep Versace’s bold creative DNA while using its own global retail muscle and operational scale to spark a turnaround.
The deal will be financed with $1.6B in new debt, and follows leadership changes at Versace—including Donatella stepping down as Chief Creative Officer.
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