{"id":6652,"date":"2025-04-10T13:24:36","date_gmt":"2025-04-10T17:24:36","guid":{"rendered":"https:\/\/sharewatch.com\/wp\/2025\/04\/10\/prada-buying-rival-fashion-brand-versace-in-1-36bn-deal\/"},"modified":"2025-04-10T13:24:36","modified_gmt":"2025-04-10T17:24:36","slug":"prada-buying-rival-fashion-brand-versace-in-1-36bn-deal","status":"publish","type":"post","link":"https:\/\/sharewatch.com\/wp\/2025\/04\/10\/prada-buying-rival-fashion-brand-versace-in-1-36bn-deal\/","title":{"rendered":"Prada buying rival fashion brand Versace in $1.36bn deal"},"content":{"rendered":"
\n

Charlotte Edwards<\/span><\/p>\n

Business reporter, BBC News<\/span><\/p>\n<\/div>\n

\n

Prada has agreed to buy its smaller rival Versace in a billion dollar deal to unite two of the biggest designer fashion labels.<\/p>\n

The deal to unite the two Italian brands has an estimated value of $1.36bn (\u00a31.06bn), the Prada Group said on Thursday.<\/p>\n

“We aim to continue Versace’s legacy celebrating and re-interpreting its bold and timeless aesthetic,” said Prada chairman Patrizio Bertelli.<\/p>\n

The Prada Group already owns several other designer labels including Miu Miu and luxury footwear brand Church’s.<\/p>\n<\/div>\n

\n

Its acquisition of Versace will create a multi-billion dollar luxury fashion group, putting the brands in a position to compete with the likes of French luxury fashion conglomerates LVMH and Kering.<\/p>\n

Negotiations to buy Versace between Prada and Capri began in February.<\/p>\n

The price Prada agreed to pay for Versace is significantly lower than the $2.15bn that Capri Holdings spent when it bought Versace in 2018.<\/p>\n

The deal, which includes the brand’s debt pile, comes as Versace has been operating at a loss amid a slowdown in demand for luxury fashion worldwide. <\/p>\n

Capri also owns other fashions brands including Jimmy Choo and Michael Kors.<\/p>\n

Mr Bertelli said that the Prada Group would provide Versace with “a strong platform”.<\/p>\n

“Versace has huge potential. The journey will be long and will require disciplined execution and patience,” added Andrea Guerra, the chief executive of Prada.<\/p>\n

In March, Donatella Versace stepped down from her creative director role at the luxury brand after nearly 30 years.<\/p>\n

She had held the position since 1997 and took over after the murder of her brother Gianni.<\/p>\n

The 69-year-old has a new role as the chief brand ambassador for Versace, while Dario Vitale, who is a former design and image director of Miu Miu, took over as chief creative officer.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Charlotte Edwards Business reporter, BBC News Prada has agreed to buy its smaller rival Versace in a billion dollar deal to unite two of the biggest designer fashion labels. The deal to unite the two Italian brands has an estimated value of $1.36bn (\u00a31.06bn), the Prada Group said on Thursday. “We aim to continue Versace’s […]<\/p>\n","protected":false},"author":1,"featured_media":6653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[19,21,20],"tags":[],"class_list":["post-6652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-market","category-news","entry","has-media"],"_links":{"self":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts\/6652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/comments?post=6652"}],"version-history":[{"count":0,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts\/6652\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media\/6653"}],"wp:attachment":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media?parent=6652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/categories?post=6652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/tags?post=6652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}