Versace Returns to Italian Ownership Thanks to Prada Acquisition

The Prada Group made a groundbreaking announcement Thursday morning when it revealed its biggest purchase ever: it bought 100% of Versace from Capri Holdings.

This acquisition brings the Italian brand, founded by Gianni Versace in 1978, back to Italian ownership. According to the Prada Group—led by Miuccia Prada and Patrizio Bertelli, with Andrea Guerra as CEO—it bought Versace from Capri Holdings at a value of $1.4 billion (or €1.25 billion) in cash deal that's "subject to adjustments at closing," the press release said.

"We are delighted to welcome Versace to the Prada Group and to build a new chapter for a brand with which we share a strong commitment to creativity, craftmanship and heritage. We aim to continue Versace’s legacy celebrating and re-interpreting its bold and timeless aesthetic; at the same time, we will provide it with a strong platform, reinforced by years of ongoing investments and rooted in longstanding relationships. Our organization is ready and well positioned to write a new page in Versace’s history, drawing on the Group’s values while continuing to execute with confidence and rigorous focus," Prada Group Chairman and Executive Director Patrizio Bertelli said in a statement.

The final price tag will be confirmed at closing—expected in the second half of 2025—and may shift based on Versace’s working capital and net financial position. The valuation also accounts for potential tax loss carryforwards, with Capri Holdings contributing toward certain transaction-related costs.

Capri Holdings initially acquired Versace in 2018 for approximately $2 billion (or €1.85 billion), purchasing it from private equity firm Blackstone and the Versace family. Talks of a sale began following the collapse of Capri’s proposed $8.5 billion merger with Tapestry Inc.—the owner of Coach—which was blocked by a New York court over monopoly concerns.

Whispers of Prada’s interest in Versace began circulating as early as January 9, 2025. Prada quickly secured exclusive negotiation rights. The acquisition joins a history of strategic moves by the Italian fashion powerhouse, including the previous purchases of Helmut Lang for $40 million, Jil Sander for $105 million, and Church’s for $170 million—though some were later divested.

With years of investment in structure and distribution behind them, the Prada Group says it’s poised to “write a new page in Versace’s history”—one built on mutual values of precision, innovation, and brand integrity. The deal wasn’t without turbulence. Market volatility and tariff-related tensions—particularly surrounding President Trump’s now-revoked measures—added complexity to the process.

"The journey will be long and will require disciplined execution and patience. The evolution of a brand always needs time and constant focus. I would like to thank Capri Holdings for having preserved and enhanced the heritage of this wonderful brand,"  Prada Group CEO Andrea Guerra added in the statement. "Notwithstanding the sector uncertainties, we look at the future with confidence, focused on a long-term strategic vision.”

This latest acquisition rides the wave of Prada’s strong financial performance. In March, the group reported 2024 revenues up 15% year-over-year. Retail sales rose 4% for Prada and shot up a staggering 93% for Miu Miu. Now, as Versace returns to its Italian roots, all eyes will be on how Prada reimagines the house’s legacy while preserving its high-octane glamour and cultural significance.