Prada seals deal to acquire Versace for €1.3 billion

Prada has successfully acquired the iconic Versace brand after several years of attempts. The deal, valued at €1.3 billion (around 50 billion Baht), was finalized this week. The acquisition will see the Milan-based brand join the Prada Group, alongside Prada and Miu Miu, strengthening its position to compete against major French luxury groups like LVMH.

The deal, which was signed in April 2025, sees Versace transition from Capri Holdings. This acquisition is below the price Capri paid for Versace in 2018, around $2 billion, but marks a significant step for Prada as it continues to enhance its luxury portfolio.

Versace, founded in 1978 by Gianni Versace, is known for its bold and extravagant style, contrasting with Prada's minimalism. Despite its global success, Versace faced challenges following Gianni Versace's tragic death in 1997 and its eventual sale to Capri Holdings.

Luca Solca,  Managing Director, Luxury Goods at Sanford C. Bernstein, emphasized that the appeal of this deal lies in the combination of Prada's minimalism and Versace's maximalism, with both brands targeting different customer segments. However, Solca noted that Versace had "passed its peak" and faces the challenge of revitalizing the brand to stay relevant and captivating to consumers.

Lorenzo Bertelli, CEO of Prada Group and son of Miuccia Prada, revealed plans to take on the role of CEO of Versace following the completion of the merger. Bertelli expressed that he had been pursuing the deal for several years, highlighting the strategic fit and growth potential of the Versace brand within the Prada family.

Before the official announcement, Donatella Versace, the brand's creative head and sister of Gianni, stepped down in March after nearly three decades at the helm.