Prada to Acquire Rival Fashion House Versace for $1.36 Billion
Italian luxury fashion giant Prada is set to acquire Versace in a landmark $1.36 billion deal, signaling a major shift in the global fashion industry and the consolidation of iconic European brands.
Milan, Italy – In a blockbuster move that’s shaking up the global luxury fashion landscape, Prada has announced plans to acquire long-time rival Versace for a staggering $1.36 billion.
The deal, confirmed by both brands, will see the two Italian fashion powerhouses unite under one umbrella — a strategic effort to compete more aggressively with French conglomerates like LVMH and Kering.
Executives from Prada say the acquisition will retain Versace’s identity and creative leadership while streamlining operations, expanding reach into new markets, and reinforcing their combined dominance in luxury fashion.
"This isn’t just a business move, it’s a cultural alliance," said a spokesperson for Prada. “We aim to preserve Versace’s legacy while pushing both brands into a new era of innovation and growth.”
Industry analysts believe the acquisition positions Prada to enhance its portfolio, leverage Versace’s appeal among younger, fashion-forward consumers, and expand in markets such as North America and Asia.
Versace, founded by the late Gianni Versace in 1978, is best known for its bold, designs and celebrity endorsements. Prada, founded in 1913, is celebrated for its minimalist, high-concept aesthetics and strategic business model.
✅ Conclusion:
The Prada-Versace deal marks one of the largest mergers in luxury fashion history. As the fashion world watches closely, this move could reshape industry dynamics and set a precedent for further consolidations in 2025 and beyond.
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