Prada has officially completed its long anticipated acquisition of Versace, sealing a €1.3 billion deal that reshapes the luxury fashion landscape. After Capri Holdings’ attempted sale to Tapestry collapsed under antitrust pressure, Prada moved swiftly, securing the bold, glamorous powerhouse it had quietly coveted for years. According to Lorenzo Bertelli, who will become Executive Chairman of Versace, talks with the brand stretch back to the COVID period, proving that Prada plays a very patient long game when it wants something stitched into its empire.
For Prada, the acquisition is both strategic and symbolic. Versace brings global brand awareness, unshakeable cultural impact, and enough gold chain energy to balance Prada’s minimalist cool. It means the sleek intellectualism of Miuccia Prada now sits under the same roof as the unapologetic drama of Gianni’s legacy. It is the design equivalent of a black turtleneck shaking hands with a neon baroque jumpsuit, and somehow it works.
The shift also marks a new era for Versace, with Donatella stepping down earlier this year and Dario Vitale, formerly of Miu Miu, taking over creative direction. The Devil and Medusa have officially joined forces, and the fashion world now waits to see what this newly blended family of luxury will unleash. Whatever happens next, it will not be subtle.
