Prada acquires Versace from Capri Holdings

Prada has announced a deal worth $1.38 billion to acquire Versace from Capri Holdings. The move brings together two major Italian fashion brands and is expected to strengthen Prada’s position in the luxury market while potentially boosting overall revenue, according to a Reuters report.

The deal is seen as a strategic move by Prada to scale operations and enhance revenue growth. Versace, despite its strong brand presence, has been reporting losses in recent quarters, making it a potential turnaround opportunity for Prada.

Both companies operate global supply chains and maintain large customer bases. The acquisition is expected to open new market opportunities and broaden Prada’s product and brand portfolio globally.