Rome, April 10: The Prada Group announced the purchase of the Versace fashion house from the U.S. luxury group Capri Holding in a cash deal valued at 1.25 billion euros ($1.4 billion.)
Versace has been owned since 2018 by the Capri Holding, which includes Michael Kors and Jimmy Choo. Karishma Mehta To Sell Her Gucci, Prada, Louis Vuitton Bags and Shoes, Humans of Bombay CEO Decides To Ditch Luxury Leather Items for Cruelty-Free Fashion (See Post).
Capri Holding paid $2 billion for Versace, but had been struggling in the recent era of “quiet luxury’ to position the stalwart of Italian fashion with its sexy silhouettes and loud patterns.
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