Archive · 3 Dec 2025
Prada Acquires Versace for £1.3bn
Prada, a big fashion company, has bought Versace, another famous fashion brand.
This deal was worth £1.3bn.
Versace was started by Gianni Versace in 1978, and it's known for its glamorous and bold designs.
Donatella Versace, Gianni's sister, shared a heartfelt message on Instagram, saying that the deal closed on Gianni's birthday.
Lorenzo Bertelli, the son of Prada's owners, will become the new executive chairman of Versace.
Prada has been interested in Versace for a long time and saw this as a good opportunity to grow.
The deal was finalized after another planned sale of Versace fell through due to legal issues.
Prada completed the acquisition of Versace for £1.3bn.
Versace was founded by Gianni Versace in 1978 and is known for its bold, glamorous aesthetic.
Donatella Versace, Gianni's sister, paid tribute to him on Instagram, noting the deal closed on his birthday.
Lorenzo Bertelli, son of Prada's owners, will become executive chairman of Versace.
Prada had been interested in acquiring Versace for several years and saw it as a valuable addition due to its strong brand awareness.
- Who
- Prada (acquirer), Versace (acquired), Donatella Versace (sister of founder), Lorenzo Bertelli (new executive chairman)
- What
- Acquisition of Versace by Prada
- When
- December 2, 2023 (deal completion), April 2023 (definitive agreement), 1978 (Versace founded), 1997 (Gianni Versace's death)
- Where
- Milan, Italy (Versace's founding location), Miami, USA (Gianni Versace's death location)
- Why
- Prada had long been interested in acquiring Versace due to its strong brand awareness and financial stability. The deal was expedited after Capri's sale to Tapestry fell through due to antitrust issues.
- Acquirer
- Prada
- Acquired
- Versace
- Purchase Price
- £1.3bn
- Previous Owner
- Capri Holdings
- New Executive Chairman
- Lorenzo Bertelli
- New Creative Chief
- Dario Vitale
- Founder of Versace
- Gianni Versace
- Year Founded
- 1978
