In one of the most significant deals in recent luxury fashion history, the Prada Group officially announced the successful completion of its acquisition of Versace. The Italian luxury powerhouse closed the $1.375 billion cash deal on Tuesday, December 2, 2025, bringing the flamboyant, globally recognized Versace brand under the same corporate umbrella as the intellectual minimalism of Prada and Miu Miu.
The acquisition sees Versace return to Italian ownership, having previously been held by the American luxury group Capri Holdings (owner of Michael Kors and Jimmy Choo) since 2018. The strategic move positions the Prada Group to become a far more competitive luxury conglomerate on the global stage, directly challenging European giants like LVMH and Kering in both scale and market presence.
The new era of Versace will be steered by Lorenzo Bertelli, the son of Prada owners Miuccia Prada and Patrizio Bertelli, who takes on the role of Executive Chairman. Prada Group CEO Andrea Guerra emphasized that Versace is “extraordinarily different and complementary” to their existing portfolio, offering “significant untapped growth potential” despite its struggling financial performance under Capri.
The highly anticipated completion of the Prada Acquires Versace deal marks a historic moment for Milanese fashion. It is expected that Prada will integrate Versace into its robust, vertically integrated Italian manufacturing system, aiming to inject the stability and resources needed to return the iconic brand to the global forefront.
