Patrizio Bertelli explained Prada's plans for Versace

During one of the most tense periods for the fashion industry (and the rest of the world), the Prada Group did one of the most unexpected things: it aimed for growth. With the acquisition of Versace by Capri Holdings, the Group expanded its portfolio, bringing back to Italy the brand founded by Gianni Versace. The transaction, which will be completed at the end of 2025, marks a historic step for one of the most iconic Italian fashion houses; moreover, while the initial agreement was expected to be around 1.6 billion euros, it has now been negotiated for 1.25 billion euros, precisely because of the tariffs imposed by Trump that caused Capri Holdings, an American company, to hesitate. It was a perfect storm both for the Prada Group, which has now officially become a European luxury giant, and for Versace, which was going through a difficult economic period due to a sales crisis. In an interview with the Corriere della Sera, the co-founder of the Prada Group, husband of Miuccia Prada and president of the company Patrizio Bertelli explained the reasons and plans behind the acquisition.

In the interview with the Corriere, Bertelli does not say he is afraid of the luxury crisis; on the contrary, he acknowledges that the industry learns to improve in times of adversity. «When you talk about fashion conglomerates, people think of the French ones. But history matters here too. In the 1990s the French had lost ground. In the 2000s they took the path of conglomerates, which helped them get back in the game.» Regarding the choice to acquire a brand outside the Prada universe, the President states it was clear from the beginning that it was Versace and no one else. «For its history, for its identity» – says Bertelli – «Because Donatella is an ambassador and is happy with what we are doing.» Former creative director Donatella Versace left the position in March, replaced by the former design director of Miu Miu, Dario Vitale, although a company spokesperson clarified that the designer chose to take this path independently of Prada Group’s corporate decisions. Just as they have done with other Italian companies at risk of collapse, the entrepreneur adds, Prada aims to integrate the brand into the Group and bring it back to life. «That’s why we don’t sponsor, but from the beginning we participate in the creation of something that will eventually become autonomous but fully integrated into the group, capable of transferring to us everything that is learned.» After confirming that the company's goal is not to make Versace a Prada brand, but to revive it in Italy through the Group’s support, Bertelli added that it’s still unknown whether the brand will use Prada’s factories. «It will do so if it deems it useful. It’s not about using formulas and applying them. It’s about observing and understanding. And now we will observe, we will see.»