Versace is owned by Capri Holding’, a multinational fashion group founded in 1981’ by American designer Michael Kors since 2018’.
At the time, Capri Holdings had paid $2 billion (€1.84 billion) for Versace. However, during the recent ‘ silent luxury ’ era, it was difficult to position the solid stance of Italian fashion with its sexy silhouettes and ostentatious patterns.
In a press release published on Capri’'s website, “, the transaction is expected to be completed in the second half of the 2025 calendar, depending on the usual closing conditions, including regulatory approvals.
The company's president and chief executive officer, John D. Idol, also commented on the deal in a press release.
“Versace is an iconic Italian fashion luxury house founded 46 years ago by Gianni Versace and further developed under the creative vision of Donatella Versace’. Over the past six years, we have made tremendous progress in repositioning the brand to put more emphasis on its luxury heritage and exceptional craftsmanship. Thanks to upgraded product, marketing and store improvements, the brand is now well positioned for sustainable long-term growth. Prada GroupWe believe that ’ is the perfect company to further guide Versace’ into its next era of growth and success.”
Idol also noted that this transaction reflects the group's commitment to increasing shareholder value and strengthening its balance sheet while empowering the growth of Michael Kors and Jimmy Choo’.
"We will continue to implement the strategic initiatives we shared at “ and maintain confidence in the long-term growth potential of Michael Kors and Jimmy Choo’," added ’.
