Prada Group has officially completed its acquisition of Versace from Capri Holdings — a deal valued at US $1.375 billion in cash (on a debt- and cash-free basis, subject to standard adjustments). 

Established in 1978, Versace has been a defining name in Italian luxury fashion with a bold, distinctive aesthetic. Under the acquisition, Versace will join Prada’s family alongside its flagship namesake label and youth-driven brand Miu Miu — marking a major consolidation in high-fashion heritage brands. 

The transaction concludes a process that began in April 2025, when the two groups signed a definitive agreement under which Prada committed to the full takeover. 

Following the closing, Capri Holdings confirmed it will deploy the proceeds to repay a large portion of its debt and rebalance its financial structure, while refocusing its efforts on its remaining assets.

In a statement acknowledging the transition, Capri Holdings’ Chairman and CEO expressed gratitude for the entire Versace team — especially naming key leaders — and wished them success under the new ownership.

For Prada, the move signals a strategic push to combine Versace’s bold glamour with its own refined, heritage-driven platform — promising a new chapter for two of Italy’s most iconic fashion houses.