Prada Group has officially acquired Versace in a Sh161 billion ($1.25 billion) deal, concluding one of the fashion industry’s most anticipated mergers.
After months of negotiations and years of speculation, the two iconic Italian houses are now under one umbrella, with Prada purchasing Versace from Capri Holdings, the parent company of Michael Kors and Jimmy Choo.
For the moment, Versace’s creative direction remains unchanged, according to Vogue.
Newly appointed creative director Dario Vitale, formerly of Miu Miu, will continue to lead the brand’s artistic vision.
A notable shift, however, is in leadership: Lorenzo Bertelli, son of Miuccia Prada and Patrizio Bertelli, will assume the role of Versace’s executive chairman.
In practical terms, this transition is not expected to immediately affect the brand’s collections, accessories, or design language.
The acquisition is largely strategic, aimed at strengthening Versace’s revenue streams and enhancing its standing in the global luxury market.
Beyond the business implications, the merger carries significant symbolic weight. It marks a rare alliance between two historic, family-run fashion dynasties built on mutual respect and shared craftsmanship.
This sentiment was reflected in Donatella Versace’s heartfelt Instagram message to her late brother Gianni on what would have been his 79th birthday:
“Happy Birthday, Gianni. Today is your day, and the day Versace joins the Prada family. I am thinking of the smile you would have had on your face. I miss you, always.”
In an industry increasingly dominated by large conglomerates, the union of these two family-operated houses introduces a sense of warmth and continuity. Each brand brings its own creative codes, heritage, and influence on modern fashion.
Together, they have the potential to advance their legacies, both artistically and commercially, into a promising new era.
To mark the announcement, Donatella also shared a nostalgic photograph of Gianni Versace and Miuccia Prada smiling as they posed with an orchestra for a 1996 Vanity Fair shoot by Karl Lagerfeld. It serves as a fitting reminder that Prada and Versace may well be poised to create something remarkable together in the years ahead.