Capri Holdings Completes $1.38 Billion Sale of Versace to Prada

Reuters

12/02

Capri Holdings Completes $1.38 Billion Sale of Versace to Prada

Capri Holdings Limited has completed the sale of Versace to Prada S.p.A. for $1.375 billion in cash, subject to certain adjustments. The proceeds from the transaction will be used to repay the majority of Capri Holdings' debt, significantly reducing its leverage ratio and strengthening its balance sheet. The company plans to focus on its Michael Kors and Jimmy Choo brands moving forward. Capri Holdings' Chairman and CEO, John D. Idol, expressed gratitude to the Versace team for their contributions and wished them success under Prada's ownership.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Capri Holdings Limited published the original content used to generate this news brief via Business Wire (Ref. ID: 20251201352355) on December 02, 2025, and is solely responsible for the information contained therein.

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