Prada

Prada Group acquired Versace. The deal closed December 2, 2025, for $1.375 billion in cash, marking the largest acquisition in Prada’s 112-year history and reshaping the Italian luxury landscape. Prada was founded in 1913 in Milan by Mario Prada and is led today by Miuccia Prada (co-creative director with Raf Simons since 2020), her husband Patrizio Bertelli as chairman, and CEO Andrea Guerra. The group is listed on the Hong Kong Stock Exchange under ticker 1913.

The Versace integration places Lorenzo Bertelli, son of Miuccia Prada and Patrizio Bertelli, as executive chairman of the acquired brand. The deal expands the Prada Group portfolio from Prada and Miu Miu, the latter the strongest growth performer across luxury through 2024 and into 2025, to now include Versace alongside Church’s footwear and Car Shoe. Versace had underperformed during its post-2018 ownership under Capri Holdings, and Prada has signaled a deliberate, gradual integration rather than rapid restructuring. The acquisition strengthens Prada Group’s position as one of the few major Italian luxury groups operating independently outside the LVMH and Kering perimeters.

Prada Group operates Prada, Miu Miu, Versace, Church’s, and Car Shoe through directly operated stores in major luxury cities, with the largest concentration in Asia, Europe, and North America. Versace enters the portfolio with roughly 200 stores, primarily concentrated in North America and Europe. For mall operators, the practical implication is that Prada Group is now a three-flagship counterparty: Prada, Miu Miu, and Versace can co-locate in the same luxury wing or be staggered across multiple properties, with leasing conversations now routed through unified group real estate teams. Capital allocation across the three brands will shape which destinations receive flagship priority over the next 24 months.