Prada explores acquisition of Versace from Capri Holdings

Prada is evaluating a potential acquisition of Versace from Capri Holdings, with Citi acting as its adviser.

Capri Holdings has engaged Barclays to identify potential buyers for Versace, attracting interest from private equity funds and other fashion groups.

This development follows Tapestry’s decision in November to abandon its $8.5bn acquisition deal for Capri, the parent company of Michael Kors.

Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Sign up

In addition to this, Capri has enlisted Barclays to also explore other strategic options, including the potential sale of its Jimmy Choo brand aside from Versace.

Founded in Milan in 1978 by the late Italian designer Gianni Versace, Versace displays bold, luxurious prints and its iconic Medusa motif.  Currently, the brand remains under the creative leadership of Donatella Versace, Gianni’s sister.

Meanwhile, Prada showcasts refined and intellectual designs shaped by creative director Miuccia Prada. More recently, it has been outperforming the industry downturn, with sales rising 18% at constant currencies in the third quarter.

Source: Brand Equity

Can’t stop reading? Read more