Prada has announced a definitive agreement to acquire 100 per cent of Versace from Capri Holdings for €1.25 billion (~$1. 39 billion), subject to adjustments.
Versace will retain its creative identity within the Prada Group, benefitting from its industrial and operational strengths.
Prada sees strong growth potential in Versace and aims to build on its legacy with a long-term strategic vision.