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Prada among suitors looking at Versace, newspaper reports
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Prada among suitors looking at Versace, newspaper reports
Jan 10, 2025 12:02 AM

MILAN, Jan 10 (Reuters) - Italy's Prada

is among potential suitors examining the acquisition

of fashion group Versace which Capri Holdings ( CPRI ) has put up for

sale, daily Il Sole 24 ore reported on Friday.

In November Coach-owner Tapestry dropped a $8.5

billion deal to buy Michael Kors-owner Capri.

After that deal to create a U.S. luxury conglomerate fell

through, Capri hired Barclays to look at strategic options

including the sale of its Versace and Jimmy Choo brands, two

people with direct of the knowledge of the matter told Reuters.

One person did not rule out the entire Capri Holdings ( CPRI ) group

could also be up for sale.

Prada is looking at the file with Citi, the report said.

Citi has worked with Prada in the past over a dual-listing

project which was put on hold.

Contacted by Reuters, Prada declined to comment.

In November, Capri posted a bigger-than-expected drop in

quarterly revenue, hurt by execution missteps and a global

slowdown in luxury goods demand.

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