The Prada Group has formally taken ownership of Versace after completing a 1.375 billion dollar cash purchase that brings one of Italy’s boldest luxury labels into the fold of one of its most influential fashion houses. The deal moves Versace out of Capri Holdings and places it beside Prada and Miu Miu, marking one of the most significant restructurings in European luxury this decade.
Regulatory approvals were finalized earlier this week. Capri Holdings confirmed that proceeds from the sale will help reduce its existing debt. Prada, in its brief confirmation note, signaled that the transaction is part of a larger plan to expand its footprint while unlocking new value from Versace, which has struggled to find its momentum in recent years.
Donatella Versace publicly embraced the transition in an Instagram tribute timed with the birthday of Gianni Versace. The post featured an archival photograph of her brother with Miuccia Prada, underscoring the emotional weight of the moment for the family and the brand.
Versace’s next chapter will be led by Lorenzo Bertelli, who takes on the role of executive chairman alongside his existing responsibilities within Prada Group. Bertelli has indicated that dramatic leadership shakeups are unlikely in the near term, although he acknowledged that the brand’s global influence has not matched its recognition in recent years. Prada maintains that Versace still holds substantial room for growth, especially with its strong name recall in key markets.
Industry analysts see potential in the combination of Prada’s minimalism and Versace’s maximalist identity. Versace has already started refining its creative direction under designer Dario Vitale, who presented his debut collection in Milan earlier this year.
Behind the scenes, preparations are underway to integrate Versace into Prada’s Italian production network. The group has continued to expand its manufacturing capacity in Tuscany and beyond, investing heavily in training programs that support hundreds of artisans each year. Prada believes this manufacturing strength will be central to Versace’s revival.
