Prada is reportedly considering buying Versace as Capri Holdings looks to sell the brand.

Italian luxury fashion brand Prada is reportedly considering acquiring Versace from U.S.-based Capri Holdings, according to an article by Il Sole 24 Ore. Capri Holdings, which also owns Michael Kors and Jimmy Choo, is looking to sell Versace to focus on turning around the Michael Kors brand. Multiple fashion groups and private equity firms are interested in Versace, and negotiations on its value are ongoing. Prada has not commented on the report, and Capri Holdings recently reported lower-than-expected quarterly revenue due to global luxury goods demand slowdown and internal brand issues.

2 months ago
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