Prada Cuts $1.4-B Deal To Buy Versace

One does not know at what point someone decided to settle in remote places like the Everest slope or the Sahara desert. They were probably passing through and at the end they stayed. Something similar could happen to Andrea Guerra (Milan, 59), current CEO of Prada, who is passing by while the family heir, Lorenzo Bertelli, gets older. For the moment, Guerra has to prove that Versace's recent purchase for 1.25 billion euros has been a success.Kee…

It is the big question of the fashion industry: How much does Prada weaken with Versace? Is that really good?

Versace speaks Italian again. With a 1.25 billion euro transaction, the Prada Group acquired 100% of the fashion house, founded by Gianni Versace in 1978, taking it over from Capri Holdings. A symbolic return for one of the most iconic Made in Italy luxury brands, which thus returns under the control of another major Milanese fashion house. The positive effect on the markets After much gossip and speculation, the announcement was made official b…

Prada Cuts $1.4-B Deal To Buy Versace

Prada has struck a $1.4 billion deal to acquire fellow Italian fashion house Versace from Capri Holdings.