Prada is reportedly on the verge of making a decision regarding its potential acquisition of Versace, with the luxury group expected to finalize the deal this week. A source close to the matter revealed that negotiations are now entering their final stages, raising anticipation about the future of the two iconic Italian fashion houses.
The deal, if completed, would combine two of the most prestigious names in Italian fashion under one roof. Versace, currently owned by New York-based Capri Holdings, would join forces with Prada in what would be a significant shift in the luxury fashion landscape. According to Italy’s Corriere della Sera newspaper, an official announcement about the potential deal could come as soon as Thursday, April 10. The reported price for the loss-making Versace has reportedly been reduced to 1 billion euros ($1.1 billion), a significant decrease from earlier estimates that placed the brand’s value at a higher figure.
La Repubblica, another Italian daily, also reported that Capri Holdings’ CEO, John Idol, is expected to arrive in Milan in the coming days to finalize discussions about the deal. In late February, Prada was granted exclusive access to Versace’s financial data for a four-week period, which has since been extended, according to various reports.
However, recent developments have added complexity to the negotiations. The introduction of new tariffs under President Donald Trump’s administration has created uncertainty in global markets, making the timing and financial considerations of the deal even more crucial.
Versace, which was acquired by Capri Holdings for 1.8 billion euros in 2018, has struggled to maintain profitability. The brand, which recently appointed former Miu Miu designer Dario Vitale as its new Chief Creative Officer, has faced challenges in turning a profit despite its historical status as a global fashion powerhouse.
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