CreatripTeam

Italian luxury brand Prada is reportedly in discussions to acquire Versace for €1.5 billion. If the acquisition is successful, Prada could become a major competitor to the French luxury conglomerate LVMH. Prada has completed its due diligence and found no significant risks, continuing its negotiations with Capri Holding, the current owner of Versace. Founded by Gianni Versace in 1978, the brand is famous for its bold and provocative designs, often worn by pop stars like Michael Jackson and Elton John. Versace has faced financial challenges since Gianni's death in 1997, leading to its acquisition by Capri Holdings in 2019. Analysts believe that if Prada acquires Versace, it could revitalize the Italian fashion industry.