Prada Eyes Versace Acquisition Amid Luxury Market Shifts

Prada is evaluating a potential acquisition of fashion group Versace, which is being sold by Capri Holdings. This comes after a failed merger between Capri and Tapestry. Barclays and Citi are involved in exploring strategic options for Capri, including the potential sale of Versace and Jimmy Choo.

Italy's fashion powerhouse, Prada, is reportedly considering acquiring the renowned fashion group Versace, currently up for sale by Capri Holdings, according to a report by Il Sole 24 Ore.

Following a collapsed $8.5 billion deal between Tapestry and Capri Holdings, which aimed to combine major luxury brands, Capri has engaged Barclays to explore strategic options, potentially selling its Versace and Jimmy Choo brands.

Sources suggest that Citi, which has previously partnered with Prada, is advising on the matter. Meanwhile, Prada has remained tight-lipped, and Capri faces revenue challenges amid a global slowdown in luxury demand.

(With inputs from agencies.)