The value may attain nearly €1.5bn (£1.2bn), Bloomberg has reported, though the deal just isn’t confirmed.
The transaction would return the home to Italian possession, rising Prada’s heft within the luxurious area. Prada Group additionally includes Miu Miu, footwear manufacturers Church’s and Automobile Shoe, the Luna Rossa perfume model and patisserie Marchesi 1824.
Based by Mario Prada in 1913, Prada has been creatively led by his granddaughter Miuccia Prada since 1978. At Milan Style Week AW25, she instructed reporters that the Versace deal was “on everybody’s desk”.
Capri, previously Michael Kors Holdings, modified its identify following the acquisition of Jimmy Choo in 2017. It acquired Versace in 2018 for $2.1bn (£1.7bn), that means the present determine would signify a loss for the corporate.
Versace was based in 1978 by Gianni Versace, and is now led by his sister Donatella Versace, following his loss of life in 1997.
Prada Group has additionally reportedly been granted entry to Versace’s most up-to-date monetary outcomes, having accomplished preliminary due diligence.
Capri’s forecasts present that gross sales at Versace are more likely to fall from $810 (£638m) to $800 (£630m) within the subsequent monetary yr, in line with its long-term monetary targets posted earlier this month. Nonetheless, it additionally forecasts that gross sales would improve to $900m (£709m) by 2028 and $1.5bn (£1.2bn) within the extra distant future.
In November 2024, a deal for US conglomerate Tapestry to take over Capri for $8.5bn (£6.7bn) was blocked by the US Federal Commerce Fee. Tapestry is the proprietor of Coach and Kate Spade. It offloaded Stuart Weitzman final month, promoting it to Sam Edelman proprietor Caleres for $105m (£82.7m).
The US Federal Commerce Fee mentioned that the merger would allegedly have eradicated competitors and deprived shoppers by monopolising the “reasonably priced purse” market by bringing collectively the Coach, Kate Spade, Stuart Weitzman, Michael Kors, Jimmy Choo and Versace manufacturers.
Prada shares, that are listed in Hong Kong, elevated 3.5% on Monday after particulars surrounding the deal have been publicised.
