The Italian fashion house Versace will in future be part of Prada – another big name of the Italian and international fashion world. The Prada Group announced this after several months of negotiations in Milan. The purchase price was specified at 1.25 billion euros. The name Versace, which goes back to the company founder Gianni Versace in 1997, should be preserved. In the past few years, the luxury brand under the roof of the company Capri Holdings from the USA, which also includes prominent fashion houses such as Michael Kors or the shoe manufacturer Jimmy Choo. In addition to Prada, the Prada empire itself also includes the model line Miu Miu and Church’s, also shoes of the upper price range. Italian group against international luxury competitors behind the takeover is also to be able to keep up better with international competition such as LVMH from France. The business has been speculated for months. According to information from the daily newspaper “Corriere della Sera”, there were still some obstacles. Shortly before the completion of the business, the punitive tariffs of US President Donald Trump against other countries – also against Italy – had worried, it said. The takeover must still be approved by the authorities, but this is considered very likely. A conclusion is expected in the second half of the year. The “Corriere della Sera” spoke of an agreement between the two “queens of the Italian fashion world”. Giorgio Armani, who is more than 90 years over his empire and also designs himself, is the king of the Italian fashion world. Prada is a lot older than Versace: The brand that goes back to two brothers has been increased since 1913. The awareness was increased by the film “The devil is wearing Prada”, which goes back to the book of the same name. CEO promises: Versaces inheritance boss Patrizio Belli assured that Prada would be the legacy of Gianni. “We want to celebrate and reinterpret his bold and timeless aesthetics,” he announced. Until recently, his sister Donatella has held the creative direction of the fashion house since Versace’s murder. The 69-year-old only cleared her post a month ago. Since April 1, she has only been Chief Brand Ambassador (chief brand ambassador). The creative director is now Dario Vitale, who had previously worked for Miu Miu. Versace claims to have more than 200 own shops worldwide. In addition, Versace fashion is offered in more than 600 shops. There are also shoes, bags, glasses, watches and perfume from the brand.
