Speculation surrounding the sale of Versace continues to increase. Italian luxury giant Prada Group is now thought to be considering a takeover of the brand. The news is reported by Italian newspaper Il Sole 24 Ore.
The media company suggested that Miu Miu’s parent company was among potential suitors considering the takeover of Versace, which is believed to have been put up for sale by parent company Capri Holdings. While this decision has not yet been explicitly confirmed by Capri itself, multiple media platforms have cited industry sources suggesting that the group worked with bank Barclays to find buyers for both Versace and Jimmy Choo.
The form of the sale has remained unclear, but there has been speculation that Barclays is considering an auction that would require interested parties to submit bids in multiple rounds. Reuters also reports that a complete sale of Capri has not been ruled out.
Capri’s future was thrown into doubt earlier this year after an $8.5 billion merger with Tapestry was blocked by a Federal Trade Commission (FTC) antitrust lawsuit. After the announcement of the decision, Capri’s shares fell significantly in value and the merger transaction was ultimately terminated.
Source: fashionunited.nl
