02.12.2025 14:10
The luxury fashion world witnessed a historic acquisition. Prada has added Versace to its portfolio with a deal worth approximately $1.4 billion.
Capri Holdings announced that the sale of Versace to Prada has been completed for a cash consideration of $1.375 billion. The company's CEO, John D. Idol, stated that a significant portion of the sale proceeds will be used to pay down debt and that this move will significantly strengthen the balance sheet.
$1.375 BILLION SALE ANNOUNCED
The U.S.-based fashion group Capri Holdings reported that the process regarding the previously announced transfer of Versace to Prada has officially concluded. The company announced that the deal was completed for a cash consideration of $1.375 billion.
"WE WILL REDUCE DEBT AND STRENGTHEN THE FINANCIAL STRUCTURE"
Capri Holdings CEO John D. Idol noted that a significant portion of the revenue from the sale will be allocated to paying down debts. He emphasized that this move will solidify the company's financial structure by reducing its leverage ratio. Idol also expressed that this will create a broader space for growth investments.
PRADA'S INFLUENCE IN THE LUXURY SEGMENT WILL INCREASE
The acquisition, which has caused a significant stir in the fashion world, has led to comments that Prada's influence in the luxury segment will further increase. How Versace's brand identity will be positioned in the new era remains a topic of curiosity.
"CONTINUING THE STRATEGIC PLAN FOR MICHAEL KORS AND JIMMY CHOO"
Idol stated that the strategic roadmap set for the group's other brands, Michael Kors and Jimmy Choo, continues unchanged. Describing this year as a year to restore operational balance, Idol said, "By the fiscal year 2027, we will have established a strong foundation ready for renewed growth."