Prada receives EU approval to acquire Versace for €1.25 billion. ©Photo DR
It’s official: Prada received EU approval on Tuesday to acquire Versace in a deal valued at €1.25 billion (around $1.38 billion). Regulators cleared the transaction, ruling that it will not harm competition given the relatively limited global market share of both brands.
The acquisition marks a pivotal step for the Italian giant. Beyond mere expansion, it is a strategic bet to strengthen Prada’s influence in the luxury sector. Meanwhile, Capri Holdings, Versace’s parent company, will now focus on its other key brands, including Michael Kors and Jimmy Choo.
The deal is expected to close by the end of 2025, ushering in a new era for both fashion icons.
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