On December 2, Prada officially announced the completion of the purchase of the famous Italian brand Versace for a sum of $1.5 billion, as reported by Reuters.
According to information, the agreement was signed back in April, but the deal was temporarily suspended due to issues related to antitrust regulation.
Versace, founded in 1978 by Gianni Versace in Milan, will now become part of a company that already includes the brands Prada and Miu Miu.
Donatella Versace, the sister of the brand's founder, noted on her Instagram that the day of the deal's completion coincided with her brother's birthday, who was murdered in Miami in 1997.
She wrote: "Today is your day, and Versace joins the Prada family. I can only imagine the smile on your face. I will always miss you."
Lorenzo Bertelli, the son of Prada's founders, Miuccia Prada and Patrizio Bertelli, will take the position of executive chairman of Versace. He noted that the company had been striving for this acquisition for several years.
It is also worth mentioning that in March, shortly before the announcement of the deal with Prada, Donatella Versace left her position as creative director, a role she held for nearly three decades. She was succeeded by Dario Vitale, who previously served as the design director at Miu Miu.
