Oman today_ In one of the biggest deals in the fashion world, Prada has acquired full ownership of Versace from Capri Holdings for €1.25 billion ($1.38 billion).
Capri Holdings, which owns renowned brands such as Versace, Jimmy Choo, and Michael Kors, is a major competitor to companies like LVMH. However, due to recent changes in U.S. policies and financial market fluctuations, Prada seized this opportunity to keep Versace rooted in Italy and preserve its cultural value.
Just a few days ago, Donatella Versace stepped down from her role as the creative director of the brand. She stated that her decision was aimed at creating opportunities for young and innovative designers.
Prada’s bold move has been widely praised by fashion experts, who see it as a smart strategy to enhance the brand’s stock value. Meanwhile, internet users have humorously coined the name “Pradace” for this monumental collaboration.
It is expected that this acquisition will have a positive impact on the fashion industry, ushering in a new chapter for both iconic brands.
Versace in Prada’s Hands: A Major Shift in the Fashion Industry
