Italian luxury goods group Prada closes in on £1.2bn deal to buy rival Versace

By DAILY MAIL CITY & FINANCE REPORTER

Updated: 22:01 GMT, 3 March 2025

Prada is closing in on a deal to buy Versace. 

The Milan-based luxury goods group has agreed to pay £1.2billion to its rival’s US owner Capri Holdings, whose brands also include Jimmy Choo and Michael Kors. 

Capri shares rose more than 6 per cent in early trading in New York and Prada gained 3.5 per cent in Hong Kong. 

The deal – first reported by Bloomberg – could be finalised this month. 

It would bring Versace back under Italian ownership and create a major player that could compete with global groups such as LVMH, whose brands include Louis Vuitton, Christian Dior and Tiffany, and Gucci owner Kering. 

Capri bought Versace – set up by the late Gianni Versace 47 years ago – for £1.5billion in 2018. 

Elegant attire: Versace, worn by actress Anne Hathaway (pictured), was set up by the late Gianni Versace in Milan in 1978

DIY INVESTING PLATFORMS

AJ Bell

AJ Bell

Easy investing and ready-made portfolios

Hargreaves Lansdown

Hargreaves Lansdown

Free fund dealing and investment ideas

interactive investor

interactive investor

Flat-fee investing from £4.99 per month

Saxo

Saxo

Get £200 back in trading fees

Trading 212

Trading 212

Free dealing and no account fee

Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.

Compare the best investing account for you

:
Italian luxury goods group Prada closes in on £1.2bn deal to buy rival Versace

***
Read more at DailyMail.co.uk