Luxury fashion powerhouse Prada is making bold moves. CEO Andrea Guerra has reportedly flown to New York, a source told Reuters, as the group engages in talks to acquire Versace from Capri Holdings—a deal that could bring together two of Italy’s most iconic fashion names.
A source revealed that on his visit to the U.S. financial hub, Prada CEO Andrea Guerra is joined by Lorenzo Bertelli, the son of the group’s key shareholders, Miuccia Prada and Patrizio Bertelli, who also serves as chief marketing officer.
Meanwhile, Capri Holdings, based in New York, announced on Thursday that Donatella Versace is stepping down as the brand’s main designer after nearly three decades.
Starting April 1, Dario Vitale, a designer from Miu Miu, a smaller brand within the Prada Group, will step into Donatella Versace’s role as chief creative officer of the Medusa-head brand. According to Morningstar analysts, this strategic move could pave the way for a potential Prada-Versace acquisition.
Prada declined to comment, and Reuters could not confirm whether Guerra’s trip was directly linked to discussions with Capri Holdings regarding a possible Versace deal.
Earlier this month, reports surfaced that Prada was nearing a €1.5 billion ($1.64 billion) agreement to acquire Versace. On February 20, a source told Reuters that Prada had been granted four weeks to review the financials of its smaller rival.
Beyond Versace, Prada is also rumored to be eyeing Jimmy Choo, another Capri Holdings brand, further signaling its ambitious expansion plans.
