In a landmark deal that’s shaking up the fashion world, Prada has officially acquired Versace for roughly about $1.4 billion USD; bringing two iconic Italian houses under one roof.
The agreement, which Prada first announced in April 2025, concluded this December after regulatory approvals and careful negotiations. The acquisition was positioned as a strategic move: Versace’s bold, maximalist style now complements Prada’s aesthetic; giving the group a clout-filled presence across diverse segments of high-end fashion.
The acquisition coincides with a major leadership shift at Versace: longtime creative chief Donatella Versace stepped down in March 2025. She’s now taken on the role of Chief Brand Ambassador. Replacing her is Dario Vitale;formerly part of Prada’s sister brand Miu Miu. Whom has assumed creative directorship as the brand’s new chapter began.
Photo: Vittorio Zunino Celotto / Getty Images Entertainment / Getty Images
For Versace, this takeover and leadership refresh marks a rebirth; a chance to recapture lost momentum after sluggish sales during its tenure under U.S.-based ownership. For Prada, it’s a bold consolidation, combining heritage, craftsmanship, and contrast meets glamour, precision meets flair.
Although Miami is deeply tied to Versace’s legacy, his first American runway show took place in New York City in 1982, helping introduce Italian high fashion to the U.S. market.Gianni was one of the first designers to merge fashion with celebrity and pop culture.
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