In a move that’s shaking up the fashion world, Prada Group has acquired Versace in a landmark deal worth $1.37 billion — bringing the iconic brand back under Italian ownership at a time when the global luxury market is uncertain.
The deal is expected to be finalized later this year, once all the legal checks are done. There were rumors floating around for months — from talk of a powerful Italian fashion duo forming, to fears the deal might fall apart due to market drama and trade tensions. But now it’s confirmed.
Prada’s chairman, Patrizio Bertelli, called it a fresh start for Versace. He said both brands share the same values: creativity, craftsmanship, and a strong connection to their roots.
Insiders say the original price was supposed to be €1.43 billion, but thanks to the current market uncertainty, Prada managed to negotiate a discount — around €180 million less.
In short? Versace is back in Italian hands, and this could be the start of something big.