The management of the Italian Prada SpA intends to update the Gianni Versace S.p.A. brand and has no plans for further acquisitions within three years. This is reported by foreign media with reference to Prada CEO Andrea Guerra.
The completion of the acquisition of Versace for 1.25 billion euros ($1.44 billion) from Capri Holdings Ltd. is scheduled for December 2, followed by the relaunch and integration of the brand as a key objective of the Italian Prada concern.
From the point of view of Prada management, the updated Versace brand will provide a new aesthetic for Prada assets and will become the basis for the creation of a larger Italian brand that can potentially compete effectively with global luxury goods manufacturers.
Prada is an Italian clothing, footwear and accessories company that owns the fashion house and trademark of the same name. The headquarters is located in Milan, Italy).
Versace is an Italian manufacturer of luxury goods and luxury goods. The company's retail network includes 236 stores. In addition, some of the products are sold in bulk to clothing store chains, as well as sold through e-commerce platforms. The headquarters is located in Milena (Italy) with the main distribution center in Novara (Italy).
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