Prada has completed the acquisition of Versace from Capri Holdings for 1.3 billion euros, and Donatella Versace has stepped down from her role as creative director.

Prada has announced the completion of the acquisition of the Versace brand, after signing a definitive agreement with Capri Holdings in April. The transaction, valued at approximately 1.3 billion euros, took place after Capri's sale to Tapestry failed due to objections from competition authorities. Donatella Versace, the sister of founder Gianni Versace, marked the moment with an emotional message on social media, reminiscing about her brother.

The fashion house, founded in 1978, now joins the Prada and Miu Miu brands. Donatella has stepped down from her role as creative director, being replaced by Dario Vitale. Lorenzo Bertelli, the son of the Prada owners, will take on the role of executive chairman of Versace, emphasizing that Prada wanted to acquire the brand even during the pandemic period.