The luxury icon returns to Italy for 1.25 billion
The Versace brand returns under the Italian flag. With a deal worth 1.25 billion euros, the Prada Group has acquired the famous maison of Medusa from Capri Holdings, concluding an historic agreement that marks a crucial moment for the tricolor luxury industry.
The agreement provides for a cash payment, with a value that may undergo slight changes at the final closure, expected in the second half of 2025. For Capri Holdings – which had acquired Versace in 2018 for 1.85 billion – it is a strategic exit, useful to strengthen the balance sheet of the US holding and to support the remaining brands, Michael Kors and Jimmy Choo.
The operation brings back to Italy one of the most recognized symbols of Made in Italy in the world, but it is not only a symbolic move. Prada aims to give new life to Versace, enhancing its unique identity within a portfolio that already includes names such as Miu Miu, Church’s and Car Shoe.
«Versace has a different DNA, and precisely for this reason it is complementary to our brands», explained Lorenzo Bertelli, responsible for sustainability and strategy of the group, who supported the CEO Andrea Guerra in the negotiations. «There will be no overlap, but productive and commercial synergies to explore».
Donatella Versace leaves the creative direction but will remain as Chief Brand Ambassador, while Dario Vitale, already a leading designer at Miu Miu, will be responsible for his legacy. A choice that confirms Prada’s desire to renew the creative language of the brand, while preserving its daring and provocative soul.
The current CEO, Emmanuel Gintzburger, will remain in office during this first phase to ensure continuity of management. The acquisition was supported by a EUR 1.5 billion loan from BNP Paribas and Intesa Sanpaolo, confirming the large-scale operation.
The analysis
This operation represents a twist in the panorama of Italian and international luxury. If on the one hand we are witnessing a return of identity – with Versace speaking Italian again – on the other it is a strategic maneuver, in a market dominated by French giants like LVMH and Kering. Prada not only strengthens its role as an independent luxury hub, but also sends a clear message: Italy can still play the leading role if it combines creativity, solid governance and long-term vision.
Also applauded by the Minister of Enterprises and Made in Italy, Adolfo Urso, who called the operation “a strong signal to the market” and “a confirmation of Italian leadership in the world of fashion”. But the challenge remains open: the relaunch of Versace will require time, consistency and a refined strategy, able to combine the legacy of the past with the needs of a fast-changing market.
For Prada, this acquisition is not only a bet on luxury. It is a statement of confidence in the value of Made in Italy. It is a step towards a future in which identity is also a strategic asset.
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