Prada buy Versace for 1.25 billion: it is official. Bertelli: « We will write a page of history »
The agreement between Prada and Versace is official
Prada announces Thursday that he has entered into a final agreement for the acquisition of 100% of Versace From Capri Holdings.
«We are happy to welcome Versace into the Prada group and to start a new chapter for a brand with which we share a constant commitment to creativity, the care of the product and a strong cultural heritage. Our goal is to give continuity to Versace’s legacy, « he said Patrizio Bertellipresident and executive administrator of the Prada group, at the announcement of the Medusa brand. « Our organization is ready and well positioned to write a new page in the history of Versace, leveraging the values of the group and continuing to operate with confidence and rigorous determination, » he added.
Andrea GuerraCEO of the Prada group, wrote in a note: «The acquisition of Versace represents a further step in the evolutionary path of our group and adds a new dimension, different and complementary. The group’s infrastructure is strong, we have verticalized the organizations of our brands, and we have strengthened our routines and our processes. We feel ready to open this new chapter. Versace has enormous potential. The path will be very long and will require patience and discipline in execution. The evolution of a brand needs time and continuous care. I want to thank Capri Holdings for preserved and further enriched the heritage of this magnificent brand. Despite the period of great uncertainty, we look to the future with confidence, projected on a long -term strategic vision ».
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