Companies

Prada Completes $1.37 Billion Versace Acquisition

Capri Holdings said it will use the sale proceeds to significantly reduce debt and focus on its remaining brands, Michael Kors and Jimmy Choo.
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Prada Completes $1.37 Billion Versace Acquisition
A man walks past a Prada shop in Geneva, Switzerland, on Nov. 16, 2020. Denis Balibouse/Reuters
Evgenia Filimianova
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Fashion giant Prada said on Dec. 2 it had completed the acquisition of Versace from Capri Holdings, closing a deal first announced in April.

“Prada today announces the successful completion of the acquisition of Versace from Capri Holdings, after having received all required regulatory clearances,” the company said in a statement.

Evgenia Filimianova
Evgenia Filimianova
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Evgenia Filimianova is a UK-based journalist covering a wide range of international stories, with a particular interest in foreign policy, economy, and UK politics.