Citi-Backed Prada Explores Versace Acquisition in Luxury Shake-Up

Italian fashion house Prada is considering a potential bid for Versace, owned by Capri Holdings. Partnering with Citi, Prada will be looking to strengthen its luxury portfolio by acquiring Versace, which is known for its bold designs. This comes after Capri Holdings conducted a strategic review, including the possible sale of Versace and Jimmy Choo, after the failed merger with Tapestry. Analysts argue that while Prada and Versace operate on different levels, the inclusion of Versace might be challenging since Prada did not fare well with past acquisitions.

Source: Reuters