Prada is reportedly in negotiations to purchase the Versace fashion brand from Capri Holdings for around $1.5 billion. If successful, this deal would reestablish Versace under Italian ownership and strengthen Prada's position in the luxury market, particularly against LVMH. The acquisition follows Capri's declining fortunes with Versace, which has seen a drop in revenues and uncertainty about its creative leadership going forward. While Capri remains cautiously optimistic about Versace's future growth, the brand faces significant challenges.
A deal would bring the Versace brand back under Italian ownership, enhancing Prada's market position against competitors like LVMH.
Capri, former owner of Versace, reported a $1.5bn sale would represent a loss as it struggles with declining revenues and uncertain future leadership.
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