- Title: Prada completes Versace takeover after long courtship
- Date: 6th April 2025
- Summary: ANNAYA, LEBANON (DECEMBER 1, 2025) (REUTERS) POPE LEO ARRIVING TO THE MONASTERY OF SAINT MAROUN AND GREETING CHEERING CROWDS FROM HIS COVERED POPEMOBILE TOP SHOT SHOWING POPE WALKING TO THE MONASTERY (SOUNDBITE) (Arabic) LEBANESE, JEAN AMIN SAADEH, SAYING: "We hope the Pope’s visit to Lebanon and Beirut brings peace to Beirut, Lebanon and the whole world.” PEOPLE GATHERING
- Embargoed:
- Keywords: CAPRI HOLDINGS DONATELLA VERSACE M&A MIUCCIA PRADA PRADA PRADA GROUP VERSACE
- Location: VARIOUS
- City: VARIOUS
- Country: Italy
- Topics: Arts/Culture/Entertainment,Europe,Fashion
- Reuters ID: LVA003941417032025RP1
- Aspect Ratio: 16:9
- Story Text:Prada said on Tuesday (December 2) it had completed the acquisition of smaller Italian rival Versace, a brand the luxury group said it had long coveted.
Prada signed a definitive agreement in April to buy Versace from U.S.-based Capri Holdings for about 1.3 billion euros ($1.51 billion), after Capri's sale to Tapestry was scrapped in the wake of a challenge by antitrust regulators.
Lorenzo Bertelli, the son of Prada owners Miuccia Prada and Patrizio Bertelli, told Reuters in November that he will become executive chairman of Versace once the integration is complete.
He said that Prada had been keen on a deal for several years.
"There had already been contacts during the COVID period, there were talks even before Capri's sale to Tapestry. When that deal fell through over antitrust issues, we came back and tried to speed things up," Lorenzo Bertelli said.
"It was something that had been in the works for a long time," he added.
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