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Versace is up for sale, and PRADA is reportedly a potential buyer.
On Friday, it was reported that PRADA is one of the potential buyers of VERSACE, whose parent company Capri Holdings has put it up for sale. In November, Tapestry, Inc. abandoned the deal to acquire Capri Holdings, the owner of Michael Kors, for $8.5 billion. Two insiders stated that after the failed deal to create a USA luxury goods group, Capri Holdings hired Barclays to explore strategic options, including the sale of its VERSACE and...
Reports suggest that PRADA is considering acquiring Versace.
Reports on Friday indicated that the Italian fashion brand PRADA may be considering acquiring Versace. The report cited market rumors suggesting that PRADA is working with consultants from Citigroup to determine whether to seek a Trade. The report mentioned that Versace's owner, Capri Holdings Ltd., has hired Barclays to explore various options for the brand and other brands in its portfolio, such as Jimmy Choo. Previously, due to regulatory issues, a court ordered the freezing of Capri and Tapestry's $8.5 billion merger plan, which had to be canceled.
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