The Italian Prada Fashion House has agreed to buy a competing Versace brand from the American Capri Holdings holding for $ 1.375 billion, including company debts. The transaction unites the two largest names in Italian fashion and strengthens Italy’s position in the luxury industry, reports Reuters. “We will strive to continue the legacy of Versace, glorifying and rethinking its bold and unprocessed aesthetics,” said PRADA, PRADA, PRADA’s chairman. Versace will allow creating a conglomerate with a turnover of about six billion euros, which can compete with the largest players of this market – French LVMH and Kering, AFP notes. Model House Versace was founded by a fashion designer and designer Gianni Versace in 1978. In 1997, after the murder of the founder of Versace, the fashion house was headed by his sister Donatella Versace. In March 2025, it became known that Donatella Versace was leaving the post of creative director Versace. Model House Prada was founded in 1913. Now he is headed by Miuccia Prada. 80% of the company still belongs to the Prada family. (Tagstotranslate) News
