Versace Deal Nears, Prada Takes Final Step
Prada is moving closer to a deal to buy Versace from upmarket fashion group Capri Holdings after agreeing to a price of nearly 1.5 billion euros ($1.6 billion), Bloomberg News reported on Sunday. The Italian luxury group has gained significant value in recent years, with Prada's stock price rising by over 50% in the past year alone. If successful, the deal would mark a major turnaround for Versace, which has struggled to regain its former glory since being acquired by Capri Holdings in 2018.
- The potential acquisition of Versace by Prada could signal a trend shift in the luxury fashion industry, where established brands are seeking to consolidate their market share through strategic acquisitions.
- How will the change in ownership affect Versace's brand identity and its ability to compete with other luxury fashion brands in the global market?