Operation Medusa ends on Tuesday 2 December. Prada announces, in fact, the completion of the acquisition of Versace from Capri Holdings, after obtaining all required regulatory approvals. The Italian group announced this in a brief statement.
Prada completes the acquisition of Versace
With the conclusion of the operation from 1,25 billion euros, as already anticipated, Lorenzo Bertelli He takes on the role of Executive Chairman of Versace. This role adds to his current roles as Marketing Director and Head of Corporate Social Responsibility for the entire Prada group, which is still led by his parents. Patrick Bertelli e Miuccia PradaSince last March, the designer at the head of the company founded in 1978 by Gianni Versace has been Dario Vitale, formerly creative director of MIU MIU. Donatella Versace, who had taken over the reins of the company in 1997 after the murder of his brother Gianni, had announced his resignation shortly before the acquisition, becoming an ambassador for the brand.
LVMH: Pietro Beccari Appointed CEO of the Fashion Group
The operation, approved at the end of September also by the EU, had been launched in April 2025. The union between the two brands symbol of the Made in Italy luxury leads to the creation of a group with a turnover of over 6 billion euros, able to compete better with industry giants such as lvmh e KeringSpeaking of LVMH, today's news is that Sidney Toledano is leaving his operational role after more than 30 years of collaboration with Bernard Arnault. He has been appointed Chairman and CEO of the LVMH fashion group. Pietro beccariA role that complements that of President and CEO of Louis Vuitton. Damien Bertrand, currently Deputy General Manager of Louis Vuitton, will join the LVMH Executive Committee.
Prada CEO Guerra: "No acquisitions for at least three years."
“We are not thinking about acquisitions. We are committed to Versace for at least three years“, said the CEO of Prada group on the eve of the closing, Andrea GuerraAs for the future, "you never know, but there's nothing to discuss in terms of new hires right now," Bertelli emphasized. These statements were made on the sidelines of the 25th anniversary celebrations of the Prada Group Academy in Scandicci.
The focus, therefore, is on Versace, on which Prada has decided to focus its energy and resources. "We had a wonderful opportunity," Guerra continued. "It's a unique, extraordinary, incredibly complementary brand, in the sense that it's exceptionally different from the brands in our portfolio. It appeals to a different aesthetic, a different consumer. However, on the other hand, it has a series of incredibly similar elements, because the Versace brand also stems from a cultural philosophy, from a classical Mediterranean philosophy, from innovation."
The CEO also clarified that the operation was not born out of a competitive logic: “I think everyone has their own history and their own future. We don't compete with Versace to be more competitive.We already are. We're moving forward on our path, which is a path of culture and innovation, completely different from anyone else's, and so far it's worked."
And the brand's historical relevance remains a firm point for Guerra. "Versace is the brand that invented fashion as we know it today. He invented glamour, he invented supermodels, he brought fashion closer to a more popular cultureAnd it's something we sometimes forget. He brought music into fashion, which is a fundamental element."
The group enters this phase with a strong foundation of consolidated expansion. "The last four to five years have certainly marked a long period of growth," the CEO observed. "We therefore hope to continue growing at a rate above the industry average."
Prada, the challenge of numbers in the fashion industry
The 8 billion target remains in the background, without a specific date. “I haven't the faintest idea,” he replied, smiling. “It was an ambition, and that ambition remains. We want to continue growing faster than the industry, without taking shortcuts. Today this essentially means finding growth with the same number of stores. It's worked so far." The arrival of Versace is seen as a further boost. "We're adding another little piece of the engine to our machine. It will be a long-term project, but I'm sure it will help us reach the size we aspire to."
