Prada posts double-digit growth in 2024 in a down market
Numerous fashion companies are potentially interested in buying Versace, Miuccia Prada, owner of the Italian luxury group Prada , said on Thursday.
Capri, Prada and Versace
Italian luxury fashion house Prada reported a bumper set of results for 2024, defying analysts' expectations and the crisis in luxury markets. This comes on the heels of rumours that it is in talks to purchase Versace.
Adding Versace to its luxury empire. Prada SpA is reportedly close to acquiring the iconic Italian fashion house from Capri Holdings Ltd., with a deal valued at approximately €1.5 billion ($1.6 billion),
An acquisition of Versace by Italian luxury group Prada would create a company with a broader base that is more resistant to business cycles, but reviving the targeted brand could take years and hit short-term profits.
Versace is on everyone’s table,” said Miuccia Prada, the owner of the eponymous brand founded by her grandfather.
Prada SpA’s co-owner has hinted that it’s looking at a potential deal to buy Versace but says the brand has also drawn interest from other industry players.
Prada has posted double-digit growth for the fourth consecutive year and is believed to be in talks to acquire the Versace brand, as the fashion house looks to extend its reach
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