Prada buys Versace: a game-changing Italian comeback
What if Italian luxury were to regain control of its icons? This has now happened, with the Prada group’s €1.25 billion takeover of Versace.
Versace returns to Milan: a powerful symbol
Founded in Milan in 1978 by Gianni Versace, the iconic house is returning to its Italian roots after six years under the control of American giant Capri Holdings. The announcement was made official by Prada Group on April 10, 2025, marking a strategic turning point in the luxury goods industry.
This takeover comes at a sensitive time: Versace sales fell by 6.9% in 2024, to $1.03 billion. The artistic transition had already begun with the departure of Donatella Versace, now the brand’s ambassador. Her successor is Dario Vitale, a transfer from Prada subsidiary Miu Miu.
Creative and industrial synergy
In a press release, Patrizio Bertelli, President of Prada Group, underlines the alignment of values between the two houses: creativity, heritage and know-how. Versace will now benefit from Prada’s consolidated platform of operational expertise, industrial excellence and controlled distribution. The objective is clear: to exploit Versace’s untapped growth potential while preserving its aesthetic DNA.
This marriage promises to be a major lever for diversifying the pillars of the Prada group, which also includes Miu Miu, Church’s, Car Shoe and Marchesi 1824. In 2024, the group posted sales up +18% to 5.4 billion euros, despite an overall slowdown in the sector.
Italy takes on the French giants
With this acquisition, Prada positions itself as a counterweight to French behemoths LVMH and Kering, reinforcing Italian sovereignty over its iconic brands. The stakes are as symbolic as they are economic: restoring Italian influence in a globalized market, where creative independence remains a differentiating asset.
To be continued…
Will Versace experience an Italian renaissance? One thing is certain: the battle for European luxury has only just begun.
Also read: India, the future Eldorado of global luxury?
