Prada’s CEO flies to New York as speculation – Business News
Luxury fashion group Prada’s CEO Andrea Guerra has flown to New York, a source close to the matter instructed Reuters, as the group is in talks to buy Capri Holdings-owned Versace in a deal that may unite two of the largest names in Italian fashion.
On his journey to the US financial capital, Guerra is accompanied by Lorenzo Bertelli, the son of the group’s main shareholders Miuccia Prada and Patrizio Bertelli, who’s chief advertising officer, the source added.
New York based mostly Capri Holding mentioned on Thursday that Donatella Versace was stepping down as major designer for the Versace model after virtually three many years.
Prada is in talks to buy Capri Holdings-owned Versace in a deal that may unite two of the largest names in Italian fashion. VTT Studio – stock.adobe.com
From April 1, Dario Vitale, a designer coming from Miu Miu, a smaller model within the Prada group, will take over Donatella Versace’s position as chief inventive officer of the Medusa head model.
The transfer might facilitate a potential acquisition of Versace by Prada, Morningstar analysts mentioned.
Prada and Capri Holdings declined to remark. Reuters wasn’t in a position to confirm whether or not Guerra’s journey was related to the talks with Capri Holdings about a potential Versace’s deal.
Earlier this month Prada was mentioned to be close to a deal to buy Versace for a price of practically 1.5 billion euros ($1.64 billion).
Earlier this month Prada was mentioned to be close to a deal to buy Versace for a price of practically $1.6 billion. asauriet – stock.adobe.com
On Feb. 20, a source close to the matter instructed Reuters that Prada had been given 4 weeks to conduct its evaluation of the financial knowledge of its smaller rival.
Prada has additionally been reported to be interested by shopping for Jimmy Choo, one other Capri model.
