Italy's Prada agrees to buy rival Versacebr br Prada strikes a deal to buy smaller rival Versace from Capri Holdings in a move to unite two of the biggest names in Italian fashion. The deal has an enterprise value of $1.375 billion, Prada said on April 10, 2025. Prada is seeking to expand, having defied a slowdown in luxury demand, while Versace has been operating at a loss. The merger strengthens Italy's hand in a luxury industry led by French conglomerates. The price Prada has agreed to pay for Versace is a big discount to the roughly $2.15 billion including debt that Capri paid for Versace in 2018. Previously known as Michael Kors, Capri bought Versace from the Versace family and Blackstone.