Yes, Prada Group officially completed its acquisition of Versace from Capri Holdings in December 2025, in a deal valued at approximately €1.25 billion (around $1.4 billion) to merge two of Italy's most iconic luxury fashion houses. The acquisition brings Versace's bold aesthetic under the Prada umbrella, alongside Miu Miu, aiming to strengthen Prada's position against rivals like LVMH. Lorenzo Bertelli, Prada heir and executive chairman, will lead Versace as its executive chairman.
Versace is, as of February 2025, owned by Capri Holdings Limited. In 2018, Michael Kors Holdings acquired the company for approximately $2.1 billion and rebranded as Capri Holdings.
Prada is owned by the Prada family, with Miuccia Prada (the founder's granddaughter) and her husband Patrizio Bertelli leading the luxury fashion house, though they are transitioning leadership to their son Lorenzo Bertelli, who is increasingly involved in management and marketing as the family retains majority control (around 80%) through Prada Holding S.p.A., even with public shares.
On her 18th birthday, she received 50% ownership of Gianni Versace S.p.A. Allegra's uncle Santo Versace already owned 30% of the fashion empire, and her mother already owned 20%, but due to a long-standing disagreement between the two, the remaining 50% of the Versace empire was bequeathed by Gianni to Allegra.
Upon Gianni's death in 1997, she inherited a portion of the Versace brand and became its creative director. She is currently the brand's chief brand ambassador. Along with her brother Gianni, she is widely credited for the supermodel phenomenon of the 1990s by casting editorial models on the runway.
Prada Buys Versace: A Glamorous Legacy, A Corporate Takeover, A New Fashion Era
Is Donatella Versace a billionaire?
What is Donatella Versace's net worth? According to public sources, Donatella Versace's net worth was estimated to be $400 million in 2024. She currently owns a 15,000-square-foot mansion in Meina, Italy, valued at 5 million euros.
Did Princess Diana attend Gianni Versace's funeral?
Yes, Princess Diana attended the funeral of her close friend, fashion designer Gianni Versace, in Milan on July 22, 1997, just six weeks before her own tragic death, appearing solemn in a black Versace dress and comforting Elton John, making it a poignant, iconic moment.
This marked the first time in 47 years that Versace was not led by a family member. The Prada Group has made a move to save the Italian brand from possibly being consolidated into the larger French groups Louis Vuitton Moët Hennessy (LVMH) and Kering, which own considerable luxury fashion brands.
Since Versace's death, the Villa went through different owners before being purchased by the Nakash family, who take their stewardship of the property very seriously.
Donatella Versace, sister of the late Gianni, noted that the closing of the deal coincided with his birthday. "Today is your day and the day Versace joins the Prada family. I am thinking of the smile you would have had on your face. I miss you, always," she wrote on Instagram.
The Versace logo is the head of Medusa, a Greek mythological figure. The logo came from the floor of ruins in the area of Reggio Calabria that the Versace siblings played in as children. Gianni Versace chose Medusa as the logo because she made people fall in love with her and they had no way back.
Versace, which was first founded in Milan in 1978 by Donatella and her brothers Santo and Gianni, was sold to the Michael Kors group in 2018, which was then folded in to Capri Holdings in 2019. The Italian atelier represented 20% of Capri's 2024 €5.2bn (£4.3bn) revenue.
With his passing, Donatella inherited a 20 percent stake in the business and became chief designer, while her eldest brother Santo, who was already serving as president of the company, received 30 percent. Donatella's daughter, Allegra Versace Beck, was granted a majority stake of 50 percent at just 11 years old.
In September 2018 Michael Kors offered to buy Versace for two billion euros. Versace announced all Blackstone and Versace family shares were sold to Michael Kors Limited. The acquisition was completed in December 2018, with Donatella Versace remaining head of creative design.
This video revisits a deeply moving moment from July 1997, when Princess Diana attended the funeral of fashion designer Gianni Versace in Milan. Dressed in black and visibly solemn, Diana's presence reflected both her close friendship with Versace and the gravity of the moment.
No, Versace 1969 is not the real Versace. Versace 1969 Abbigliamento Sportivo, often referred to as simply Versace 1969, has no relation to Versace or the Versace family. The authentic Versace, which was founded in Milan in 1978, won a trademark infringement lawsuit in 2018 against Versace 1969.
Sophie, Duchess of Edinburgh (then Sophie Rhys-Jones) was the royal who notably skipped Princess Diana's funeral in 1997, not by outright refusal but by a considerate decision supported by the Royal Family, because her strong resemblance to Diana would have been too upsetting for the grieving crowds, as reported in royal biographies.
All of the Jewelry Meghan Markle Inherited From Princess Diana, Including Her Iconic "Divorce Ring" The Duchess of Sussex has a number of heirloom pieces from her late mother-in-law.
