{"id":20698,"date":"2025-12-31T09:17:10","date_gmt":"2025-12-31T16:17:10","guid":{"rendered":"https:\/\/footwearmagazine.com\/?p=20698"},"modified":"2026-01-01T16:54:45","modified_gmt":"2026-01-01T23:54:45","slug":"prada-heir-lorenzo-bertelli-takes-charge-of-versace-in-a-bold-e1-25-billion-deal","status":"publish","type":"post","link":"https:\/\/footwearmagazine.com\/?p=20698","title":{"rendered":"Prada heir Lorenzo Bertelli takes charge of Versace in a bold \u20ac1.25 billion deal"},"content":{"rendered":"

Italian luxury is entering a new era of consolidation. The Prada Group moves closer to completing its acquisition of rival fashion house <\/span>Versace<\/a><\/span> for <\/span>\u20ac1.25 billion<\/a><\/span> (approximately $ 1.4 billion). This deal is expected to close within weeks, according to the Associated Press. In the next chapter of this takeover, Lorenzo Bertelli is set to step into a key strategic role as executive chairman of Versace. This will cement the family-run Prada empire\u2019s influence across two of Milan\u2019s most globally recognized fashion labels.<\/span><\/p>\n

Bertelli\u2019s new role at Versace<\/b><\/h3>\n

Lorenzo Bertelli, the heir to the Prada fortune, will serve as executive chairman of Versace, giving him a central voice in steering the brand\u2019s long\u2011term strategy. He shared in an Italian\u2011language podcast that he plans to spend at least the first year learning the business and the leadership team, rather than rushing major structural changes. <\/span>Bertelli said he does not expect \u201cimportant changes\u201d at Versace during the first 12 months after the deal closes. He emphasized a period of observation and analysis.<\/span><\/p>\n

A 47\u2011year\u2011old icon with \u2018untapped\u2019 power<\/b><\/h3>\n

Founded 47 years ago by Gianni Versace, the house of Versace remains one of the most recognizable names in global fashion. However, Bertelli believes its commercial performance still lags behind its brand strength.<\/span><\/p>\n

\u201cThe brand is much bigger than the revenue that it is generating,\u2019\u2019 Bertelli <\/span>said<\/a><\/span>, signaling room for growth in sales and visibility. <\/span>Bertelli stressed that Versace continues to rank among the top fashion labels worldwide. He suggested that better strategy and group synergies could unlock that \u201cuntapped\u201d potential.<\/span><\/p>\n

Why Prada is buying Versace now<\/b><\/h3>\n

The Prada Group first announced plans in April 2025 to acquire Versace from U.S. luxury conglomerate Capri Holdings. Capri Holdings had acquired the brand for approximately $ 2 billion in 2018. This latest transaction, valued at approximately 1.25 billion euros in cash, aims to reposition Versace after a period of underwhelming performance following the pandemic.<\/span><\/p>\n