In a landmark move reshaping the global luxury landscape, Italian fashion powerhouse Prada has officially acquired Versace for $1.375 billion in cash, as confirmed by Capri Holdings. The acquisition marks one of the most significant brand shifts in recent years and positions Versace alongside Prada’s established luxury lines – Prada and Miu Miu.
Originally founded in 1978 by Gianni Versace, the brand has long been recognized for its bold identity, iconic Medusa emblem, and celebrity-driven pop culture relevance. With this acquisition, Versace now joins a portfolio known for refinement, craftsmanship, and rapid Gen-Z appeal through its rising sibling brand, Miu Miu.
Donatella Versace, the artistic force behind the maison since Gianni’s passing, acknowledged the symbolic timing of the deal – coinciding with what would have been his birthday. In an emotional Instagram message, she wrote: “Today is your day and the day Versace joins the Prada family… I miss you, always.”
Capri Holdings, parent company to Michael Kors and Jimmy Choo, stated that proceeds from the sale will be directed toward reducing company debt and fortifying financial stability. Chairman and CEO John D. Idol expressed appreciation for the Versace leadership team, including Donatella Versace, for evolving the brand through recent years of transformation.
The acquisition signals a new era for Versace – one where heritage, legacy, and business strategy converge under the Prada umbrella.
