Closing of Prada's Acquisition of Versace is Official

MILAN – The Prada Group now officially controls the Versace brand, as the closing of the acquisition was reported on Tuesday. The date, Dec. 2, coincides with the birthday of the late Gianni Versace .

In a brief statement, Prada said it had “received all the required regulatory clearances” to successfully complete the purchase. In September, the group received the European Commission’s green light to acquire Versace’ s parent Givi Holding Srl.

Lorenzo Bertelli, head of CSR at the Prada Group, and the son of Patrizio Bertelli and Miuccia Prada, is expected to take on the role of executive chairman of Versace.

Prada also controls the Miu Miu, Car Shoe and Church’s brands.

In April, the Prada Group revealed the acquisition of Versace from Capri Holdings for an enterp