In a bold move reshaping the luxury fashion landscape, Prada announced it was buying 100% of Versace from Capri Holdings. The deal, valued at $1.38 billion, will be paid entirely in cash, with final terms to be settled upon closing.
To finance the deal, Prada will take on €1.5 billion ($1.65 billion) in new debt—split between a €1.0 billion ($1.1 billion) term loan and a €0.5 billion ($550 million) bridge facility—while still maintaining balance sheet flexibility thanks to its existing cash reserves and undrawn credit lines.
The acquisition has been approved by both boards and is expected to close in the second half of 2025, pending regulatory approvals and standard closing conditions.
In its official statement, Prada Group described Versace as “a strongly complementary addition to the Prada Group’s portfolio” with “significant untapped growth potential leveraging multiple value creation levers.” The brand also confirmed that Versace will “maintain its creative DNA and cultural authenticity,” while drawing on the “full strength of the Group’s consolidated platform.”
Patrizio Bertelli, Prada Group Chairman and Executive Director, commented:
“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 organisation 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.”
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