PRADA TAKES AIM at VERSACE DEAL Worth Up to €1.5 Billion
Prada SpA is moving closer to a deal to buy Versace from Capri Holdings Ltd. after agreeing to a price of nearly €1.5 billion ($1.6 billion), according to people familiar with the matter. The deal would mark a reversal of the trend in Italian fashion, allowing Prada to create a larger Italian player to better compete with global luxury groups. If completed, the acquisition would be a significant move for Prada, which has emerged as one of the luxury sector's winners amid a global downturn.
- This potential acquisition could signal a shift towards more strategic consolidation among Italian luxury brands, potentially leading to a stronger domestic presence in the market.
- How will the completion of this deal impact the broader fashion industry's ability to adapt to changing consumer preferences and rising competition from Asian brands?