Lorenzo Bertelli, CMO of the Prada Group, on the new Prada Galleria: | "This is where it all began for Prada"
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“This Is Where Everything Started for Prada”: Lorenzo Bertelli on the New Prada Galleria
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Key FactsPrada acquires Versace for Italian fashion merger
Apr 10, 2025 · Reading time: ~45 sec.
Summary created with AI assistance · Source: khaleejtimes.com
Summary created with AI assistance · Source: khaleejtimes.com
- Prada has finalized a $1.38 billion deal to acquire Versace, uniting two major names in Italian fashion.
- The acquisition aims to attract new customers to Prada's minimalist designs and strengthen its position in a luxury industry dominated by French conglomerates.
- This transaction follows Donatella Versace's announcement of stepping down as creative director, marking a strategic shift for Prada.
- The financing involves 1.5 billion euros in new debt, with the deal expected to close in the second half of 2025.
Gianni and I have always had a huge admiration for Miuccia, Patrizio and their family.— Donatella Versace expressed her admiration for the Pradas in the context of Prada's acquisition of Versace.
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