Prada Group buys Versace fashion house from its U.S. owner in a deal valued at $1.4 billion

By Canadian Press on April 10, 2025.

ROME (AP) — The Prada Group announced the purchase of the Versace fashion house from the U.S. luxury group Capri Holding in a cash deal valued at 1.25 billion euros ($1.4 billion.)

Versace has been owned since 2018 by the Capri Holding, which includes Michael Kors and Jimmy Choo.

Capri Holding paid $2 billion for Verace, but had been struggling in the recent era of “quiet luxury’’ to position the stalwart of Italian fashion with its sexy silhouettes and loud patterns.

The Associated Press