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Prada acquires Versace in $1.375 billion cash deal after regulatory approvals

Lorenzo Bertelli named executive chairman to guide Versace’s next phase

Versace creative relaunch underway under designer Dario Vitale , previewed at Milan Fashion Week

Prada integrates Versace into its Italian manufacturing system, leveraging artisan training programs

The Prada Group closed the purchase of Milan fashion rival Versace in a $1.375 billion cash deal that puts the fashion house known for its sexy silhouettes under the same roof as Prada’s “ugly chic” aesthetic and Miu Miu ‘s youth-driven appeal.

The highly anticipated deal is expected to relaunch Versace’s fortunes, after middling post-pandemic performance as part of the U.S. luxury group Capri Holdings .

Prada said in

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