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The Prada Group announced on Thursday to purchase the Crosstown Milan Fashion Versace competition from the Capri Holdings in the luxury United States under conditions estimated at one of the most well -known names in Italian fashion in the amount of 1.25 billion euros ($ 1.4 billion).
The Versace deal, known as the exciting silhouette, the gap and Medosa, will put under the same ceiling as “elegant ugly” in Prada and the aesthetic driven by young people driven by young people and which has taken its amazing growth in recent years to a large extent the market. Brada said the 47 -year -old brand has provided “large, unprecedented growth potential.”
“This is exactly the strength of our group. There are no interference in terms of creativity, in terms of customer, Lorenzo Burtle, chief marketing official in Prada, who is prepared to one day, said the work in which his parents – its director at Miuccia Prada, is a beginner force in the group, Patrizio Bertelli, and Patrizio BERTLLI,
“We buy a huge brand with a huge potential, with a very recognized aesthetic,” Lorenzo Berteli said, equaling to get to know the name of the Versace brand, and put it among the 10 best in the world, outperforming its work.
Prada Group said that the final value of the deal will be modified at the closure, which is expected in the second half of the year. It will be funded by 1.5 billion euros of new debts and approved by Prada and Capri Holdings.
Andrea others, the CEO of Prada, said that the deal was aimed at building a “sustainable growth in revenue” and enhancing the brand’s identity, and was not related to pressure on synergy. Brada’s statement confirmed that Versace “will preserve the creative DNA and cultural originality”, while taking advantage of “its industrial capabilities, the implementation of retail and operating expertise.”
Executive officials said there are no plans to change the CEO and Miuccia Prada will not participate in the creative side of Versace. Guerra added that the last creative creativity in Versace, with Miu Miu, President of Design Dario Vitale, replaces Donatella Versace as a creative director from April 1, has nothing to do with the deal. It was called “very independent and personal” by Vitaly.
Lorenzo Bertelli said that Mio Miu growth had shown that small changes could make a big difference. He said: “We do not need to change the brand, and we revolutionize that. We only need its development, and we make the right things happen, and all of this together, we hope that they will bring a huge spark and return Versace to be a great success.”
Capri Holdings, which owned Michael Kors and Jimmy Choo, paid two billion dollars for Versace in 2018, but she was struggling to put the bold Versace file in the last “calm luxury” era. ″
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Versace represented 20 % of Capri Holdings 2024 revenues of 5.2 billion euros. The Prada Overly analyst showed that Versace will represent 13 % of the pro -forming Prada collection revenue, as MIU MIU reached 22 % and Prada by 64 %. The Prada Group, which also includes church shoes, reported a 17 % increase in revenue to 5.4 billion euros last year.
Donatella Versace, who held the position of creative director at the fashion house founded by her brother, Gianni Versace, after his death in 1997, continues with the fashion house in the new role of the chief brand ambassador.
“I am very pleased to become part of the Prada family,” I wrote in a Instagram post under a picture of herself and Miuccia Prada. “I am honored to have the brand in the hands of such reliable Italian family businesses, and I am ready to support this new era of the brand in any possible way.”
The Italian government welcomed a deal and it seems that it secures the future of Versace in the long run, as other fashionable signs of the family stumbled or disappeared even after opening up to external investors.
“The historical brand made in Italy is Italy again,” said the Minister of Industry.
