Versace has been owned since 2018 by Capri Holding, a multinational vogue group based in 1981 by American designer Michael Kors.
On the time, Capri Holding paid $2 billion (€1.84bn) for Versace. Nevertheless, it had been struggling within the current period of ‘quiet luxurious’’ to place the stalwart of Italian vogue with its attractive silhouettes and loud patterns.
“The transaction is predicted to shut within the second half of calendar 2025, topic to customary closing circumstances together with regulatory approvals,” a press launch stated on Capri’s web site.
John D. Idol, the corporate’s chairman and chief government officer, additionally commented on the deal in a press assertion.
“Versace is an iconic Italian vogue luxurious home based 46 years in the past by Gianni Versace and additional developed below the inventive imaginative and prescient of Donatella Versace. During the last six years, we’ve got made large progress in repositioning the model to position better emphasis on its luxurious heritage and distinctive craftsmanship. By way of elevated product, advertising and retailer enhancements, the model is now properly positioned for sustainable long-term development. We’re assured that Prada Group is the right firm to additional information Versace into its subsequent period of development and success.”
Idol additionally stated the transaction displays the group’s dedication to rising shareholder worth and strengthen its steadiness sheet while powering Michael Kors and Jimmy Choo development.
“We’ll proceed to execute on the strategic initiatives shared at our current Investor Day and stay assured within the long-term development potential of Michael Kors and Jimmy Choo,” he added.
