Prada Buys Versace as Donatella Steps Down After 30 Years!

In a surprising twist for the fashion world, Prada has officially bought out its long-time rival, Versace, marking a new era in Italian luxury fashion. The deal was confirmed on April 10 and has already sent shockwaves through the industry.

Wait, Prada Bought Versace?!

Yes, you read that right. The two powerhouse brands — both known for their bold, iconic designs — are now under the same roof. Prada has acquired Versace from its former owner, Capri Holdings, in a deal worth $1.36 billion.

While Prada and Versace have always been seen as competitors, this merger could change the game entirely for the Italian fashion industry. Fashion lovers are watching closely, and the internet is buzzing.

A Major Goodbye: Donatella Versace Steps Down

Adding even more drama to the story, fashion icon Donatella has announced she’s stepping down as creative director after more than 30 years. Following the tragic death of her brother, Gianni Versace, in 1997, Donatella took over the brand and became the face behind its transformation and continued success.

At 69, she called her role “the greatest honor” of her life and said that Versace is “in her DNA.” Her legacy as a trailblazer in fashion is undeniable.

She will be replaced by Dario Vitale, a former designer for Prada’s sister brand, Miu Miu. So yes, things are staying in the (fashion) family.

How Much Did the Deal Cost?

Prada shelled out $1.36 billion to bring into its luxury empire. And yes, that’s a big number — but here’s the twist: Capri Holdings bought Versace back in 2018 for $2.15 billion. That means they sold it at a loss. Ouch.

Still, Prada’s chairman, Patrizio Bertelli, seems optimistic. He said,

“We aim to continue Versace’s legacy, celebrating and re-interpreting its bold and timeless aesthetic.”

A Big Move for Prada’s Portfolio

This acquisition isn’t just a headline — it’s a power move. Prada already owns well-known names like Luna Rossa, Marchesi 1824, and Miu Miu. Now, adding Versace creates a multi-billion-dollar fashion group that can stand up to luxury giants from other countries — especially those based in France.

Yes, we’re looking at you, LVMH and Kering.

The entire deal took only two months to finalize, making it one of the fastest big-name mergers in recent fashion history.

A New Chapter, But With Challenges

While this is exciting news for Italian fashion, it comes with some financial baggage. Prada reportedly took on $1.375 billion in debt as part of the acquisition. The company knows this won’t be an overnight success story.

Prada’s CEO admitted:

“Versace has huge potential. The journey will be long and will require disciplined execution and patience.”

Translation? It’s going to take time, smart strategy, and serious effort to make this work.

The Fashion World Reacts

Fans of both brands are emotional — some are excited about what’s next, while others are nostalgic about Donatella’s iconic run. But overall, the mood is hopeful. The deal marks a strong show of solidarity within Italy’s fashion industry.

Instead of selling to a foreign conglomerate, Versace is staying Italian — and fashion fans are here for it.

Final Thoughts: Italian Fashion Stays Strong

While the price tag and leadership change are major, this move could help Italian fashion compete globally on a much larger scale. In a world where luxury empires are growing fast, Prada’s acquisition of Versace is more than just a business deal — it’s a statement.

And no matter how the numbers shake out, one thing’s for sure: the future of Italian fashion just got a lot more interesting.