Prada’s CEO, Andrea Guerra, recently traveled to New York amid discussions about a potential acquisition of Versace from Capri Holdings, according to sources familiar with the matter. Guerra’s visit to the U.S. financial capital was accompanied by Lorenzo Bertelli, the son of Prada’s key shareholders Miuccia Prada and Patrizio Bertelli. Bertelli, who also serves as the company’s chief marketing officer, is an influential figure within the Prada group. The trip is seen as an important step in Prada’s ongoing efforts to expand its footprint within the luxury fashion industry.
Capri Holdings, the parent company of Versace, made a significant announcement on Thursday that Donatella Versace, the iconic designer who has led the brand for nearly three decades, would step down from her role as the chief designer. This decision marks the end of an era for Versace, which has long been associated with Donatella’s bold and glamorous designs. Starting April 1, Dario Vitale, a designer from Miu Miu, a smaller brand within the Prada group, will take over as Versace’s chief creative officer. Analysts believe that this leadership shift could pave the way for a possible acquisition by Prada, further solidifying Prada’s dominance in the luxury fashion sector.
This move has sparked speculation about the future of Versace under the Prada umbrella, and many analysts are now seeing it as a strategic maneuver that could facilitate the sale. Morningstar analysts highlighted that the changes at Versace could create the right conditions for Prada to finalize a deal. However, both Prada and Capri Holdings have declined to comment on the specifics of the negotiations, and it remains unclear whether Guerra’s trip was directly related to discussions about the acquisition.
Earlier this month, reports suggested that Prada was nearing a deal to acquire Versace for approximately 1.5 billion euros ($1.64 billion). In February, sources revealed that Prada had been given four weeks to conduct a thorough assessment of the financial data related to Capri Holdings’ brands. This suggests that Prada has been carefully considering the acquisition and weighing the strategic benefits of bringing Versace under its wing.
In addition to its interest in Versace, Prada has also reportedly been eyeing Jimmy Choo, another luxury brand owned by Capri Holdings. The potential acquisition of both brands would significantly enhance Prada’s portfolio, positioning the company for even greater growth in the competitive luxury fashion market.
As Prada continues to expand its influence and strengthen its position in the global luxury industry, the acquisition of Versace would represent a major step forward. With its rich heritage and legacy, Versace’s integration into the Prada group would allow both brands to complement each other and leverage synergies, further bolstering their success in the high-end fashion world.
