Italian luxury powerhouse Prada has officially wrapped up its acquisition of Versace, uniting two of the world’s most iconic fashion labels under one group.
The deal, finalised on December 2, 2025, comes after Prada secured all mandatory regulatory approvals. The company had signed a definitive agreement in April to buy Versace from Capri Holdings for USD 1.51 billion, following the collapse of Capri’s proposed sale to Tapestry due to antitrust objections.
According to multiple reports, Lorenzo Bertelli — son of Prada founders Miuccia Prada and Patrizio Bertelli — is expected to become executive chairman of Versace.
Speaking to CNN, Bertelli noted that discussions around the deal began years ago. “There had already been contacts during the COVID period, and 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. It was something that had been in the works for a long time,” he said.
With the acquisition now complete, Versace, founded in 1978 by Gianni Versace in Milan, will join Prada’s two flagship labels — Prada and Miu Miu. Bertelli, who championed the takeover, said Versace fulfilled two essential criteria: it posed no significant financial risks and held strong long-term value because of its global brand stature.
The change in ownership also follows a major leadership shift earlier this year, when Donatella Versace stepped down after nearly 30 years as creative chief. She was succeeded by Dario Vitale, former design director at Miu Miu.
