Prada Group has announced that it has entered into a definitive agreement to acquire 100% of fashion house Versace from Capri Holdings.

The cash consideration, based on an Enterprise Value of €1.25 bn, is subject to adjustments at closing.

With its highly recognisable aesthetic, the brand constitutes a strongly complementary addition to the Prada Group’s portfolio and displays significant untapped growth potential leveraging multiple value creation levers.

Within the Prada Group, Versace will maintain its creative DNA and cultural authenticity, while benefitting from the full strength of the Group’s consolidated platform, including industrial capabilities, retail execution and operational expertise.

Prada Group management will hold a conference call today (10 April) at 3.30 pm CEST to discuss the transaction with the financial community. A presentation will be made available on the website after the call.

For more information, visit pradagroup.com.