The development emerges as Capri Holdings engages Barclays to identify prospective buyers for Versace, drawing attention from both private equity funds and prominent fashion conglomerates. This strategic maneuver follows the recent dissolution of Tapestry’s anticipated $8.5 billion acquisition of Capri Holdings, the parent company of Michael Kors, which fell through in November.
Capri Holdings’ strategic review extends beyond Versace, as the company has also tasked Barclays with exploring options for its Jimmy Choo brand. This comprehensive evaluation signals a potential restructuring of Capri’s luxury portfolio.
Versace, established in Milan in 1978 by the visionary Italian designer Gianni Versace, has built its legacy on bold, luxurious prints and the iconic Medusa motif that has become synonymous with the brand. Under the creative stewardship of Donatella Versace, Gianni’s sister, the fashion house continues to maintain its position as a symbol of Italian luxury and creative excellence.
Meanwhile, Prada, renowned for its sophisticated and intellectual design approach under creative director Miuccia Prada, has demonstrated remarkable resilience in the current market environment. The company has outperformed industry expectations, achieving an impressive 18% sales growth at constant currencies during the third quarter, positioning it strongly for potential expansion opportunities.