Cash consideration, based on a business value of € 1.25 billion (~ $ 1.39 billion), is subject to adjustments to closure.
Founded in 1978 in Milan, Versace is one of the main international fashion and epitome design houses of the Italian luxury worldwide. On the basis of a remarkable brand awareness, Versace stands as a distinctive asset in the luxury landscape. Deeply rooted in the history of fashion, the brand shows a strong potential to read contemporaneity and marked sensitivity when capturing and anticipating the spirit of current and future society.
Prada has announced a definitive agreement to acquire 100 percent of Versace of Capri Holdings for € 1.25 billion (~ $ 1. 39 billion), subject to adjustments. Versace will retain its creative identity within the Prada group, benefiting from its industrial and operational strengths. Prada sees a strong growth potential in Versace and aims to build on its legacy with a long -term strategic vision.
With its highly recognizable aesthetics, the brand constitutes a strongly complementary addition to the Prada group portfolio and shows significant significant growth potential that takes advantage of multiple value creation levers.
Within the Prada Group, Versace will maintain its creative DNA and its cultural authenticity, while benefiting from the full strength of the group's consolidated platform, including industrial capacities, retail execution and operational experience.
Patrizio Bertelli, president of the Prada group and executive director, commented“: We are delighted to welcome Versace to the Prada Group and build a new chapter for a brand with which we share a strong commitment to creativity, crafts and heritage. Our goal is to continue with the legacy of Versace celebrating and reinterpreting its bold and timeless aesthetics; at the same time, we will provide a strong platform, reinforced by years of the investments ongo Data in the organization of Long Data in the organization of Long Data.
Andrea Guerra, executive director of the group, added: “The acquisition of Versace marks another step on the evolutionary trip of our group, adding a new dimension, different and complementary. The infrastructure of the group is strong, we have verticalized the organizations of our brands and reinforced our routines and processes. We feel ready to open this new chapter. Versace has great potential. The trip will be long and will require disciplined execution and patentage. The evolution of the evolution of the evolution of a new chapter. Thanks to Capri Holdings for having preserved and improved the inheritance of this wonderful brand.
Note: The holder, the ideas and the image of this press release may have been refined by Fiber2Fashion staff; The rest of the content remains unchanged.
Fiber2Fashion News Desk (RM)
