Italian fashion brand Prada has announced it has completed the acquisition of its rival brand Versace.
Foreign news agencies reported that on 2 Dec 2025 GMT+7, Italy’s renowned fashion brand Prada officially announced the purchase of its competitor Versace after expressing interest for a long time.
Prada signed the final agreement in April to buy Versace from the U.S.-based company Capri Holdings for about 1.3 billion euros (around 48 billion baht), after Capri's planned sale to Tapestry was canceled due to antitrust regulatory opposition.
Lorenzo Bertelli, son of Miuccia Prada and Patrizio Bertelli, owners of Prada, told Reuters in November that he would step in as CEO of Versace once the merger was complete and that Prada had been interested in this deal for many years.
Bertelli said, "There were contacts during the COVID period and talks even before Capri's sale to Tapestry. When that deal failed due to antitrust opposition, we returned and tried to expedite the process." He added, "This has been a long-standing effort."
Versace, founded in 1978 by Gianni Versace in Milan and known for its distinctive and luxurious style, will become part of Prada Group’s two main brands alongside Prada and the smaller but rapidly growing Miu Miu.
Bertelli, who strongly pushed for this acquisition, said Versace meets two key criteria: it poses no excessive financial risk and is a worthwhile investment, given its status as a leading global brand in recognition.