Versace Owner Capri Jumps on Prada Moving Closer to Purchase
- Prada is nearing accord to buy Versace for up to €1.5 billion
- Acquisition would create larger Italian luxury player
Versace garments in Paris.
Photographer: Benjamin Girette/BloombergThis article is for subscribers only.
Capri Holdings Ltd. shares jumped as the U.S. company moves closer to a sale of its Italian luxury brand Versace to Prada SpA.
The Italian family-owned company and Capri have agreed to a price of as much as €1.5 billion ($1.6 billion) for the fashion house founded by the late Gianni Versace in 1978, people familiar with the matter said late Sunday.