Capri Holdings agrees to sell Versace to Prada - leatherbiz: Leading n Leatherbiz

News

Capri Holdings agrees to sell Versace to Prada

11/04/2025
Capri Holdings has entered into a definitive agreement to sell Versace to Prada Group for $1.375 billion in cash, subject to certain adjustments. The transaction is expected to close in the second half of 2025, pending regulatory approvals and other customary closing conditions.

Versace, founded in 1978 by Gianni Versace, was acquired by Capri Holdings in 2018. Since then, the brand has undergone a repositioning strategy aimed at reinforcing its status in the luxury segment.

Capri Holdings stated that the sale is intended to strengthen its balance sheet and support future investments in its remaining brands, Michael Kors and Jimmy Choo. Proceeds from the sale are expected to be allocated towards business investments, debt reduction, and potential share repurchases.

The company described the transaction as part of its broader strategy to focus on the long-term development of its core portfolio.

Related stories:

Capri remains confident in long-term growth prospects 04/11/2025
Capri details a ‘challenging’ year 29/05/2025

Leatherbiz.com cannot be held responsible for content if the language setting is changed from English.

The translations provided by Google Translate are automated and therefore might not be accurate and may contain incorrect, offensive or misleading language. We offer this facility as a guide only.