Prada Group has officially acquired Versace, finalizing the €1.25 billion (around $1.4 billion) deal on December 2, 2025, bringing the iconic luxury label under its umbrella.
The acquisition, first announced on April 10, 2025, follows months of negotiations and ranks among the most high-profile consolidations in the global fashion industry in recent years.
Lorenzo Bertelli, heir to the Prada empire, will take over as Executive Chairman at Versace, while Dario Vitale, formerly of Miu Miu, steps in as the new creative director after Donatella Versace’s departure.
Prada says the move aims to strengthen Versace’s operations while preserving its bold, glamorous identity.
The deal also injects fresh energy into Prada’s portfolio, pairing its understated style with Versace’s flamboyant flair.
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Analysts say joining the Prada Group provides Versace with the resources and stability needed to reclaim its footing in a competitive luxury market.
Experts view the acquisition as part of a broader trend of consolidation among Italian fashion houses, helping them navigate changing consumer tastes and global economic pressures.
The move is expected to influence fashion trends, celebrity wardrobes, and high-profile events worldwide.