Fashion group Prada takes over Versace | Luxembourg word
The Italian fashion house Versace will in future be part of Prada, another big name of the Italian and international fashion world. This was announced by the Prada Group, which also includes other luxury brands such as Miu Miu and Church’s. In recent years, Versace – named after the company founder Gianni Versace – was named after the company founder in 1997 – under the roof of the company Capri Holdings from the USA. The purchase price was specified at 1.25 billion euros.
The takeover has been speculated for months. According to information from the daily newspaper « Corriere della Sera », however, there were still some obstacles. The punitive tariffs of US President Donald Trump against other countries – also against Italy – had also worried.
Purchase price lower than expected
The purchase price for the company founded in 1978 is now lower than the sum of 1.5 billion euros, which was originally in the room. Prada has been around since 1913. Capri Holdings also has brands like Michael Kors and Jimmy Choo.
Both Prada and Versace are among the big names of Italian fashion. Company founder Gianni Versace was murdered in the United States in 1997. A month ago, his sister Donatella Versace (69) cleared her post as a creative director after almost three decades. Since April 1, she has only been Chief Brand Ambassador (chief brand ambassador) of the luxury brand. The new creative director is now Dario Vitale, who had previously worked for Miu Miu.
