Prada buys Versace to create all-Italian luxury contender

Reuters

Milan, Updated At : 10:25 AM Apr 11, 2025 IST

Photo for representational purpose only. File photo

Prada’s deal to buy Versace revives hopes for a ‘Made in Italy’ luxury champion after many other family-founded brands ended up in French, Swiss or US hands, and comes as many Italian groups are outperforming the struggling sector.

The $1.375 billion deal brings one of fashion’s best-known Italian labels back under Italian control after it was sold to US-listed Capri Holdings for $2.15 bn in 2018.

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