La Peninsula

This past December, the house of Prada completed its long-anticipated acquisition of Versace for approximately $1.375 billion (€1.25 billion), a decisive move that reshapes the luxury landscape and restores one of Italy’s most storied brands to Italian ownership. First announced in April 2025, the transaction marks the end of Versace’s tenure under U.S.-based Capri Holdings and signals the rise of a newly fortified Italian fashion powerhouse.

The agreement places a jewel of contemporary glamour into Prada’s expanding constellation, joining the refined intellectualism of the Prada label and the youthful audacity of Miu Miu with Versace’s unmistakable boldness. Miu Miu, founded in 1993 by Miuccia Prada, stands as the spirited younger sister within the Prada family. Named after Miuccia’s childhood nickname, the brand embodies a playful rebellion, pairing high craftsmanship with an eye for the unexpected. Its collections dance between eras, blending vintage silhouettes and rich fabrics with modern, offbeat details that feel both daring and effortlessly chic. With its avant-garde sensibility and unmistakable charm, Miu Miu continues to redefine contemporary femininity through a lens that is youthful, eclectic, and unapologetically bold. The price, lower than the $2.1 billion paid initially by Capri in 2018, allowed Capri Holdings to refocus its portfolio and strengthen its financial footing, while offering Prada an opportunity rarely seen in modern luxury: the chance to steward a house whose global allure remains both iconic and undimmed.

With the acquisition comes a new chapter of leadership. Lorenzo Bertelli, son of Prada owners Miuccia Prada and Patrizio Bertelli, heir to the Prada legacy, steps into the role of Executive Chairman at Versace, guiding the brand into its next era. Creative direction now lies in the hands of Dario Vitale (formerly the visionary behind Miu Miu’s design studio) while Donatella Versace embraces a more ambassadorial position, continuing to personify the spirit and legacy of the house that bears her family name.

True to Prada’s ethos of craftsmanship, Versace will join the group’s renowned Italian manufacturing network, a move expected to elevate both efficiency and artistry. This integration of design, production, and heritage reflects a broader ambition: to strengthen Italy’s presence on the global luxury stage and stand shoulder to shoulder with French conglomerates such as LVMH and Kering. With regulatory approvals secured across Europe, including the European Commission’s green light in September, Prada’s acquisition of Versace is more than a business transaction. It is a reclamation, a cultural reunion, and a powerful reminder of the enduring magnetism of Italian design.