By
Bloomberg
Published
February 27, 2025
Prada SpA’s co-owner has hinted that it’s looking at a potential deal to buy Versace but says the brand has also drawn interest from other industry players.
“Versace is on everyone’s table”, said Miuccia Prada, the designer who transformed a small shop in Milan into a global luxury brand. “I don’t know how it will end,” she said backstage at her show during Milan Fashion Week.
The Italian company is working with advisers to evaluate a potential bid for the Versace brand, Bloomberg News reported earlier this month. Current owner Capri Holdings Ltd bought Versace in 2018 for about €1.8 billion ($1.9 billion). Prada is reviewing Versace after gaining access to its latest financial and sales figures, people familiar said.
A potential buyout by Prada could see the storied Italian brand return to a domestic owner after other fashion houses were scooped up by global players such as LVMH and Kering SA.
Family-owned Prada, whose shares are listed in Hong Kong, has emerged as one of the luxury sector’s winners amid a global downturn for high-end fashion items. Its sales surged in the third quarter of last year on the back of its Miu Miu brand, a hot commodity for younger consumers.
Capri, which also owns Michael Kors, has hired Barclays Plc to explore options for some of its portfolio companies after an $8.5 billion combination attempt with Tapestry Inc. was scrapped following a court order. Capri was downgraded to junk by S&P Global Ratings earlier this month.
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