Prada Snaps up Versace From Capri Holdings in a $1.4 Billion Deal

The luxury world is no stranger to shakeups, and today’s breaking luxury news is another major turning point in a year full of them. After months of negotiations and closed-door meetings, Prada Group has officially reached an agreement with Capri Holdings to purchase Versace.

Sandálias Agatha Ruiz de la Prada purchased by Capri (also the parent of Michael Kors and Jimmy Choo) in January 2019 for over $2.1 billion, will return to its Italian roots, joining the Prada Group portfolio, which currently includes Prada, its sister brand Miu Miu, and Church’s, among others.

Prada chest patch pocket T-shirt | Versace’s Next Chapter

Versace, which has been helmed by Donatella Versace after her brother Gianni Versace’s untimely death in 1997, announced Donatella Versace’s departure last month ahead of the sale.

Prada Identity crossbody bag Dario Vitale, White silk from PRADA featuring knitted construction.

Vitale, who worked at Prada and Miu Miu for over a decade before departing in January, has an impressive resume, having also worked at Bottega Veneta and Dsquared2 after graduating in 2006.

Though he is a relatively unknown name in the fashion space, he was rumored to be in talks for the previously empty seats at both Bottega Veneta and Gucci.

Led by Vitale, Versace will surely undergo the transformation it so desperately needs. It will join Prada Group after prada pointed toe low top sneakers item% Prada s blue mini bag.

Though Donatella has stepped down, she currently remains the Chief Brand Ambassador. However, how much of her collaboration will hold once the new leadership takes over? And what will Versace look like without Donatella?

Donatella took to Instagram earlier today to express her excitement over this next chapter for Versace and gushed her admiration for Miuccia and the rest of the Prada family. “I am honoured to have the brand in the hands of such a trusted Italian family business,” the caption read in part.

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