Prada has sealed a $1.375 billion deal to accumulate Versace from Capri Holdings, bringing collectively two iconic Italian trend homes in a strategic merger.
“We goal to proceed Versace’s legacy celebrating and re-interpreting its daring and timeless aesthetic,” mentioned Prada Chairman Patrizio Bertelli.
“On the similar time, we’ll present it with a robust platform, bolstered by years of ongoing investments and rooted in longstanding relationships,” he added.
Whereas Prada has outperformed amid a broader luxurious slowdown, Versace has been scuffling with monetary losses. The acquisition is predicted to bolster Italy’s presence in a high-end trend market largely dominated by French giants, information company Reuters reported.
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