Prada has snapped up Milan fashion house Versace in a massive $1.4 billion deal, sending shockwaves through the industry as it looks to bolster its own fortunes and inject new life into the iconic Italian brand.
As part of the Prada Group's aggressive expansion plans, Lorenzo Bertelli, the son of Miuccia Prada and Patrizio Bertelli, has been appointed executive chairman of Versace, where he will oversee the brand's next phase. Despite initial expectations that swift changes would follow, Bertelli has signaled a more measured approach, with the goal of unlocking Versace's "significant untapped growth potential."
The deal marks a significant shift for Versace, which has struggled to regain its footing since Capri Holdings acquired it in 2018 for $2 billion. The luxury group's efforts to position Versace as part of a broader "quiet luxury" movement have fallen flat, and the brand now faces an uncertain future.
However, with Prada on board, Versace stands to benefit from its parent company's reputation for innovation and its extensive network of manufacturing facilities. In fact, Bertelli has already hinted at plans to integrate Versace into Prada's Italian manufacturing system, which is a point of pride for the group.
As part of this integration, Prada has been investing heavily in its supply chain, with €60 million committed to new factories and production lines. The company has also set up an academy that has trained over 570 artisans in-house training programs across Italy, with plans to expand these initiatives under Versace's ownership.
When it comes to creative direction, Dario Vitale, the newly appointed designer at Versace, has been tasked with reviving the brand's fortunes. His first collection debuted during Milan Fashion Week earlier this year and is seen as a promising step forward for Versace.
With Prada now firmly at the helm, Versace stands poised to make a comeback in style. As Bertelli puts it, "Making a bag for one brand or another, the know-how is the same." With its reputation intact and its manufacturing prowess on full display, Versace is ready to shine once more under the guidance of its new parent company.
As part of the Prada Group's aggressive expansion plans, Lorenzo Bertelli, the son of Miuccia Prada and Patrizio Bertelli, has been appointed executive chairman of Versace, where he will oversee the brand's next phase. Despite initial expectations that swift changes would follow, Bertelli has signaled a more measured approach, with the goal of unlocking Versace's "significant untapped growth potential."
The deal marks a significant shift for Versace, which has struggled to regain its footing since Capri Holdings acquired it in 2018 for $2 billion. The luxury group's efforts to position Versace as part of a broader "quiet luxury" movement have fallen flat, and the brand now faces an uncertain future.
However, with Prada on board, Versace stands to benefit from its parent company's reputation for innovation and its extensive network of manufacturing facilities. In fact, Bertelli has already hinted at plans to integrate Versace into Prada's Italian manufacturing system, which is a point of pride for the group.
As part of this integration, Prada has been investing heavily in its supply chain, with €60 million committed to new factories and production lines. The company has also set up an academy that has trained over 570 artisans in-house training programs across Italy, with plans to expand these initiatives under Versace's ownership.
When it comes to creative direction, Dario Vitale, the newly appointed designer at Versace, has been tasked with reviving the brand's fortunes. His first collection debuted during Milan Fashion Week earlier this year and is seen as a promising step forward for Versace.
With Prada now firmly at the helm, Versace stands poised to make a comeback in style. As Bertelli puts it, "Making a bag for one brand or another, the know-how is the same." With its reputation intact and its manufacturing prowess on full display, Versace is ready to shine once more under the guidance of its new parent company.
I'm literally SHOOK by this news!!! $1.4 billion deal is insane! 
Lorenzo Bertelli taking over as executive chairman is a great move, he's got a solid track record and his dad Miuccia Prada is like the queen of fashion 
. The fact that they're integrating Versace into Prada's Italian manufacturing system is genius 
, it's all about efficiency and quality now! 
I'm loving the €60 million investment in new factories and production lines 
genius move to train more talent locally. Dario Vitale's first collection was so promising 
can't wait to see what he comes up with next 
now that Prada is on board, Versace's future looks BRIGHT 
plus they're still relying on dario vitale's first collection to revive the brand? its gonna be a miracle if that doesn't flop 
and I'm curious to see how this whole "quiet luxury" thing plays out 
i mean, you gotta wonder what miuccia prada's son lorenzo is thinking... is he gonna shake things up or keep it lowkey like the quiet luxury thing? 
i'm curious to see how this all plays out... maybe it'll be a win-win for both brands! 
It's like they're trying too hard to make Prada sound cool and innovative. Newsflash: just because you have a bunch of factories in Italy doesn't mean you're cutting-edge 
. And don't even get me started on the phrase "quiet luxury" – it's just code for "we're not flashy, but we're fancy". 
, but can't we talk about something else? 
. And what about the whole "quiet luxury" movement? I'm not sure if Prada is the right fit for Versace's style... it feels like they're trying to put out fires rather than innovate something new 
. Less waste, more efficiency... maybe they'll make some real changes 
.
. Buying Versace is like buying a trophy, it's all about branding and repurposing that iconic name. Lorenzo Bertelli's measured approach makes me think he knows what he's doing 
. The fact they're integrating manufacturing with Prada's Italian system? Game-changer 
. Now let's see if Dario Vitale can deliver the goods 
just heard about Prada buying Versace!! like, who else would've thought right?? lol idk what's goin on with Versace lately tho... they needed a shakeup ASAP! but now that Prada's got the reins, i'm hyped to see what they do w/ it! 
. They're not gonna mess it up, they've got a good system going 
.
Dario Vitale's new designs for Versace are looking fire too, can't wait to see what he brings out next! 
The 'quiet luxury' movement isn't doing it for me but if Prada is on board, i'm sure Versace will find its way again. Fingers crossed they can revive that iconic style and make it relevant again! 
might just pay off. Italian manufacturing is key 
. No wonder they're investing in supply chain and in-house training programs 
. Dario Vitale's new direction for Versace is promising 
. And with Dario Vitale on creative direction, I'm hoping we'll see some fresh vibes soon 
. The fact that Prada's investing in Versace's supply chain and academy is a solid move too 
!
. And with their manufacturing network and supply chain investments, it's clear they're serious about helping Versace turn things around. I'm curious to see how Dario Vitale's designs will play out under Prada's guidance... maybe we'll finally get a cohesive "quiet luxury" vibe