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Italian fashion giant Prada has officially completed the acquisition of Versace, bringing both the luxury fashion brands under one roof.
Prada announced the successful completion of the acquisition from the US-based Capri Holdings on December 2, 2025, adding that it has received all the required regulatory clearances, it said in a press release. As per CNN, Prada signed a definitive agreement in April this year to buy Versace for about USD 1.51 billion after Capri Holdings' sale to Tapestry was scrapped in the wake of a challenge by antitrust regulators. Lorenzo Bertelli, the son of Prada owners Miuccia Prada and Patrizio Bertelli, is likely to take over as the executive chairman of Versace, as per the report. "There had already been contacts during the COVID period, and there were talks even before Capri's sale to Tapestry. When that deal fell through over antitrust issues, we came back and tried to speed things up. It was something that had been in the works for a long time," Lorenzo Bertelli said in an interview, as quoted by CNN. With the acquisition now formally completed, Versace, which was founded in 1978 by Gianni Versace in Milan, will join the Italian luxury house's two main labels - its namesake Prada and Miu Miu. Lorenzo Bertelli, who has been strongly pushing for the acquisition, shared that Versace met two key conditions: it was not too risky financially and was worth it, given its standing among the world's brands. The acquisition came months after Donatella Versace stepped down as the creative chief after serving three decades in the role. At that time, Dario Vitale, former design director at Miu Miu, took over the role. (ANI)
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