Prada Takes Ownership of Fashion Rival Vavance in $1.4-billion Deal – National
The Prada group closed the purchase of Milan Fashion Favolion Deal Vavance for Real $ 1.375-billion Cash Deal known for its silhouettes driven by Prada and Aesti’s “
The much-anticipated deal is expected to rely on the benefits of Versane, after working with post-pandemic operations as part of the US luxury group Capri Holdings.
Prada said in a one-line statement that the acquisition was completed after receiving all regulatory approvals. Capri Holdings, which owns Michael Kors and Jimmy Choo, said the money would be used to pay down debt.
Donatella Versage accepted the deal with a post on Instagram, which also marked the birthday of the brand’s founder, her brother, Gianni Versace.
“Today is your day and the Day Versace joins the Prada family
The Future of Versace
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Prada FOILYO LOREZO Bertelli is set for the next phase of Serversane as managing Chairman, in addition to his roles as group marketing director and sustainability chief.
The son of Creative Director Criedtor miuccia Prada and long-time Chairman of Prada Patrizio Bertelli said he does not expect to make any models of the top Swift in Verrow
Prada emphasized that the 47-year-old Versace brand was given “critical growth potential.”
Versiace continues the creative reltaunch under the new designer, Dario Vitale, who previewed his first collection during Milan Fashion Week in September. He was previously head of design at Miu Miu, but his move to Provence was related to the Prada deal, executives said.
A man walks with a Prada shopping bag in front of a flexible store, Montentapoleone Luxury Fashion Street, Milan, 2025.
AP Photo / Luca Bruno
Capri Holdings paid $2 billion for the 2018 version, but it had been struggling to position the Brand’s Bold profile in the newly created era of “more luxury.”
Capri Holdings chairman John D. Isithiko said in a statement that “Prada is the right partner to guide this prestigious luxury house into its next period of growth.”
Versace revealed 20 percent of Capri Holdings’ 2024 revenue of 5.2 billion euros,
Prada said when the deal was announced in April that Versace would represent 13 percent of the Prada Group Promera Repocies, with Miu Miu coming in at 22 percent and Prada at 6 percent. The Prada Group, which includes Sunday shoes, reported a 17 percent increase in revenue to 5.4 billion euros last year.
Prada’s in-house production
The Prada group has already begun preparations to include crosstown rovation versace in its Italian production system, a point of pride for the group.
“Making a bag of one type or another, the same design,” Bertelli told reporters last week at the leather group’s launch factory, which already makes bags for Prada and Miu Miu Miu and will soon add Verrace.
Artisans focused on leather bags, and cut leather with laser machines inside the leather goods factory, where trade coaches studied as part of Prada’s Oflemy Coutemy. It has trained about 570 new professionals in an in-house training program in Tuscany, Marche, Veneto and Mbria.
Last year, Prada hired 70 percent of the 120 designers trained at the Academy. The number of coaches increased by 28 percent to 152 this year.
The Prada Group has invested 60 million euros in its supply chain this year, including a new clothing factory near Siena, a new leather factory near Perugia, and expanding the production of its shoe factory in England and Britain. That’s over €200 million in investment from 2019-24.
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