Capri Holdings Limited, a global fashion luxury group, has announced that it is selling its iconic brand Versace to Prada S.p.A. for $1.375 billion in cash. The transaction, which is expected to close in the second half of 2025, will strengthen Capri’s balance sheet and enable accelerated strategic investments in its other brands, Michael Kors and Jimmy Choo.
Versace, founded by Gianni Versace in 1978, has been recognized as one of the world’s leading international fashion design houses. The brand is synonymous with Italian glamour and style, and its iconic designs continue to influence fashion and culture.
Capri Holdings’ Chairman and CEO, John D. Idol, said that the sale reflects the company’s commitment to increasing shareholder value and strengthening its balance sheet. He expressed confidence in Prada’s ability to guide Versace into its next era of growth and success.
The transaction is expected to deliver several benefits, including increased shareholder value, debt reduction, and accelerated strategic investments in Michael Kors and Jimmy Choo. Capri Holdings will use the proceeds from the sale to support its capital allocation priorities, including business investments, debt reduction, and future share repurchases.
Barclays serves as Capri Holdings’ financial advisor, while Wachtell, Lipton, Rosen & Katz is its legal advisor. The deal marks a significant step in Capri’s strategy to power the growth of its brands, Michael Kors and Jimmy Choo.
Source: https://www.capriholdings.com/news-releases/news-releases-details/2025/Capri-Holdings-Enters-Into-Definitive-Agreement-to-Sell-Versace-to-Prada-S-p-A-/default.aspx