Prada Profit Surges, Declines to Comment on Possible Versace Bid
Prada's reported 21% growth in operating profit last year, in line with analysts' forecasts, amid speculation about a potential acquisition of smaller rival Versace. The group's net revenues reached 5.43 billion euros ($5.72 billion) in 2024, exceeding expectations and defying the slowdown in luxury demand. Prada's cautious approach to discussing its interests in Versace suggests that the company is biding its time before making a move.
- The secrecy surrounding Prada's intentions may be due to concerns about potential regulatory hurdles or the need to balance strategic ambitions with investor expectations.
- Will Prada's pursuit of Versace ultimately drive meaningful innovation and growth within the luxury sector, or could it mark a departure from the brand's historical focus on craftsmanship and heritage?