By World Licence 
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A different kind of upheaval in the fashion world: Prada will soon become the owner of Versace. On Thursday, it was confirmed that the Prada Group will acquire Versace for €1.25 billion ($1.38 billion) from its former owner, Capri Holdings.
“We are delighted to welcome Versace to the Prada Group and to write a new chapter for a brand with which we share a strong commitment to creativity, craftsmanship, and heritage,” said Patrizio Bertelli, Chairman and CEO of the Prada Group, in a press release. He then spoke of the goal of perpetuating Versace’s legacy while “celebrating and reinterpreting its bold and timeless aesthetic.”
Prada does not yet own Versace. The acquisition has been approved by the boards of directors of both companies, but the deal has yet to be finalized. It is expected to be formalized in the second half of this year.
This is not the first time the Prada Group has acquired an outside brand. In 1999, the group acquired Helmut Lang and Jil Sander in the hopes of becoming a fashion conglomerate. However, it sold the former in 2005 and sold the latter the following year. Currently, the Prada Group owns Prada and Miu Miu, as well as the Italian sailing team Luna Rossa, the shoe brands Church’s and Car Shoe, and the pastry brand Marchesi. Versace will be the group’s third ready-to-wear brand, but the only one not currently designed by Miuccia Prada. As such, Versace will bring a very different aesthetic and potential customer base. Andrea Guerra, CEO of the Prada Group, said that this acquisition adds “a new, different and complementary dimension.”
Donatella bows after the Versace Fall/Winter 2026 show in Milan.
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Rumors had it that Jimmy Choo, another Capri Holdings brand, would also be involved in the deal, but it is not currently involved in the current transaction. Capri, an American company that also owns Michael Kors, was positioned as a competitor to French luxury groups like LVMH and Kering. While Capri’s objectives have yet to be met, it appears that the Prada group could position itself as its Italian counterpart.
This news comes just one month after Donatella Versace announced her departure from her role as creative director, a position she took over after the death of her brother Gianni in 1997. She will remain with the company as chief brand ambassador, primarily responsible for Versace’s philanthropic efforts. Donatella has been replaced by former Miu Miu collaborator Dario Vitale, who worked closely with Miuccia and is expected to do so again in his new role at Versace.