{"id":278829,"date":"2025-04-10T13:54:04","date_gmt":"2025-04-10T13:54:04","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/04\/10\/prada-buying-rival-fashion-brand-versace-in-1-36bn-deal\/"},"modified":"2025-04-10T13:54:04","modified_gmt":"2025-04-10T13:54:04","slug":"prada-buying-rival-fashion-brand-versace-in-1-36bn-deal","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/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":"
\"Prada<\/div>


\n<\/p>\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<\/a> 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


\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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 legacy celebrating and re-interpreting its bold […]<\/p>\n","protected":false},"author":2,"featured_media":278830,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/ichef.bbci.co.uk\/news\/1024\/branded_news\/a907\/live\/fed82a80-1611-11f0-998c-6b1bac7d7605.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[215567,2815,10254,2294,10279,78091,1292,215566],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/278829"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=278829"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/278829\/revisions"}],"predecessor-version":[{"id":278831,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/278829\/revisions\/278831"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/278830"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=278829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=278829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=278829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}