Prada may purchase Versace from Capri Holdings, other parties interested, negotiations ongoing.

From Investing.com: 2025-01-10 02:51:05

Italian fashion house Prada is considering buying Versace from U.S. Capri Holdings, according to daily Il Sole 24 ore. Citi is advising Prada, while Capri Holdings has Barclays finding potential buyers. Other fashion groups and private equity funds are also interested, but the value of Versace is still being negotiated.

Capri Holdings, which owns Michael Kors, is looking to sell brands like Versace and Jimmy Choo to focus on a turnaround plan for Kors, as reported by Women’s Wear Daily. Capri recently posted a larger-than-expected drop in quarterly revenue due to execution missteps and a global luxury goods demand slowdown.



Read more at Investing.com: Italy’s Prada considering buying Versace from Capri Holdings, daily reports By Reuters