Prada has concluded an agreement worth $ 1.38 billion for the purchase of Versace from Capri Holdings. The transaction will connect the two largest brands of Italian fashion and will give the prospect of increasing revenues.
The fusion strengthens the position Italian In the luxury industry, headed by French conglomerates. The largest of them is LVMH, the owner of such brands as Louis Vuitton, Dior, Marc Jacobs and Givenchy.
Prada tries to develop, overcoming the demand for luxurious goods, while Versace has suffered losses in recent quarters, “Reuters points out, writing about the merger.
Continuing heritage
– Our goal is to continue the heritage of Versace, celebrate and reinterpret his bold and timeless aesthetics – said Presa Plada Patrizio Bertella.
Prada is already the owner of several other brands, including Miu Miu and the luxury brand of footwear Church's.
Negotiations on the purchase of Versace between Prada and Capri began in February.
The price that Prada paid for Versace is much lower than $ 2.15 billion, which Capri Holdings spent when buying Versace in 2018. Capri is also the owner of other fashion brands, including Jimmy Choo and Michael Kors.
She gave up after almost three decades
In March, Donatella Versace gave up the position of creative director in a luxurious brand after almost 30 years. She took them over her brother Gianni, who was murdered in 1997 in Miami.
Under the leadership of the designer, Versace significantly increased the global range, becoming one of the most -chosen brands chosen by top stars. Last year, her projects presented on the red carpet, among others Taylor Swift, Beyoncé, Dua Lipa and Sabrina Carpenter. Donatella also boasts the status of the most -observed designer in social media – over 12 million users follow her on Instagram.
A particularly unforgettable moment in the history of Versace is the Grammy Awards Gala from 2000, during which Jennifer Lopez presented itself in the iconic “Jungle Dress” dress. Monstrous interest in the recipients with the artist's stylization showed a Google Images search engine.
Source of the main photo: Shutterstock