**Prada Group Acquires Versace for $1.375 Billion, Taps Lorenzo Bertelli to Lead New Era**

MILAN – The Prada Group has finalized its acquisition of Versace for $1.375 billion, marking a significant strategic move that ushers in a new chapter for the iconic Italian fashion house. This transaction brings Versace, celebrated for its audacious and sensual aesthetic, under the same corporate umbrella as Prada and Miu Miu.

The acquisition is widely anticipated to revitalize Versace, following a period of moderate performance under the ownership of Capri Holdings. Lorenzo Bertelli, scion of the Prada family and a key figure in the group’s leadership, is set to assume the role of Executive Chairman for Versace, guiding the brand into its next phase of growth.

While no immediate executive changes are expected at Versace, the acquisition underscores Prada’s intent to unlock the brand’s recognized untapped growth potential. A central element of Prada’s strategy will involve integrating Versace’s production into its established Italian manufacturing system, leveraging Prada’s extensive experience and resources to enhance operational efficiency.

The strategic convergence of Prada’s minimalist approach with Versace’s signature maximalism presents a unique opportunity to appeal to a wider customer demographic. This blending of distinct fashion identities is expected to refresh Versace’s market relevance and reinforce its position within the competitive luxury sector.

Ultimately, this acquisition represents a substantial strategic investment for the Prada Group, aimed at strengthening its overall standing and expanding its influence within the global luxury fashion industry.