It’s official: Prada Group is acquiring Versace for €1.25B. As legacy houses consolidate and fashion’s power dynamics shift, the question now is—can Prada revive Versace’s fading heat or will Greco-Roman glamour meet Milanese subversion in a clash of luxury titans?
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Prada Group’s €1.25 billion acquisition of Versace marks a large shift in luxury fashion’s recent memory. The purchase transfers Versace from Capri Holdings (which also owns Michael Kors and Jimmy Choo) to Prada’s expanding empire (including Prada and Miu Miu, 2024’s top brand), amid an industry-wide recalibration shaped by slowing luxury demand, inflationary pressures, and shifting global tastes.
Versace has been struggling to maintain footing in a market increasingly dominated by heritage giants like LVMH and Kering. In 2024, the brand dipped into the red—its once-unstoppable glamour appearing out of step with the pared-back mood of the moment. Now, Prada is betting on its own creative and operational muscle to reignite that flame.
To fund the acquisition and planned brand reinvention, Prada will borrow an additional €250 million, signaling both confidence and urgency. It’s a calculated gamble: Donatella Versace recently stepped down as creative director, ushering in a new look for the house she defined for nearly three decades after the passing of her brother, founder Gianni Versace. Her departure clears the runway for a full-scale reboot.
Additionally, Dario Vitale will take on the role of Chief Creative Officer. The formidable talent has spent the last decade shaping womenswear at Miu Miu. Known for his sharp eye and modernist approach to femininity, Vitale brings both pedigree and perspective to the House of Versace. In his first official statement, he thanked Donatella for her trust, calling it a “privilege to contribute to the future growth of Versace and its global impact.”
This acquisition also speaks to a broader trend—consolidation in luxury as independent houses seek the infrastructure and investment that only conglomerates can provide. But Prada and Versace are radically different animals. One built on sleek restraint, the other on high-octane excess. What happens when Milan’s high priest of subversion inherits fashion’s most seductive throne?
For now, it’s a marriage of necessity and ambition. But in the months ahead, all eyes will be on how Prada balances its own DNA while reanimating the Medusa’s myth.
Photos: VERSACE (via Instagram)
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