Prada on the verge of taking over Versace for billions!

Prada on the verge of taking over Versace for billions!

The Italian luxury fashion group Prada is on the verge of a spectacular takeover of its competitor Versace. According to a report by Bloomberg A purchase price of almost 1.5 billion euros (around 1.56 billion dollars) was agreed. Discussions between the two companies are progressing after a comprehensive audit delivered positive results and revealed no significant risks.

Prada could therefore complete the takeover as early as March if no unexpected obstacles arise. Capri Holdings, which also includes brands such as Michael Kors and Jimmy Choo, put Versace up for sale after an offer from US group Tapestry was withdrawn. Capri Holdings acquired Versace in 2018 for 1.83 billion euros including debt, and could now part with the important brand oe24 reported.

Market analysis and strategic options

The negotiations are shaping up to be strategically important, not only for Prada, but also for Capri. Despite the positive outcome of the talks, the possibility of a failed deal remains, which has been hinted at by insiders. Capri Holdings has appointed Barclays to review further strategic options, including the possible sale of the Versace and Jimmy Choo brands. The developments could also have an impact on the entire structure of the company, as insiders confirm that it cannot be ruled out that the entire Capri Group is up for sale.