The recent announcement of its acquisition Versace by Prada For € 1.25 billion is one of the most important fashion agreements. The Gold Deal ‘Made in Italy’ It brings two iconic Italian brands under the same business umbrella and strengthens Prada’s position as a dominant force on the map of luxurious fashion.
Prada acquired the Versace House After months of rumors and at a time when financial markets are in turmoil due to US President Donald Trump’s policy.
Also, the historical leadership change in Versace also intervened: Donatella Versace, who has been in the artistic direction of the house for nearly 30 yearshanded over the reins to Dario Vitalea former Image Director of Miu Miu, with her role in the role of Chief Brand Ambassador.
OR Capri Holdings – Owner of both Michael Kors and Jimmy Choo – He had bought Versace in 2018 for $ 2.1 billion. In her attempt to create an American luxurious empire, Capri tried to be redeemed by her Tapestry (Owner of Coach, Kate Spade), But the agreement was blocked by the US Federal Competition Committee.
This has led to pressure to seize assets – with Prada appearing by the first stakeholders.
Versace will be added to the already existing Prada family: Prada, Miu Miu, Luna Rossa and the famous Pasticceria Marchesi. The group also includes Car Shoe and Church’s brands.
On the occasion of the much -talked -about “wedding of the year” of the two Italian houses Versace and Prada, the Reuters mentions 10 largest acquisitions in the luxury fashion and beauty industry worldwide, Based on the financial value of each agreement:
Essilorluxottica merger
Him January 2017the Italian company Luxottica merged with the French Essilor lens giant In a height agreement 46 billion euros ($ 49 billion), creating the largest optics company in the world.
Luxottica is considered the world’s leading glasses manufacturer with a portfolio including brands such as Oakley and Ray Ban and Essilor leading contact lens maker worldwide.
The agreement was described as one of the largest mergers in Europe, as it came up with a global colossus with an annual turnover of 15 billion euros.
Tiffany’s acquisition by LVMH
Him November of 2019the French group LVMH – to which Brands belongs, such as Louis Vuitton and Dior – Required American jewelry house Tiffany & Co. against $ 16.2 billion. Tiffany’s amazing diamonds and her unique jewelry have left history. Even Tiffany’s blue box is treated as Object of Desire.
With the conclusion of the agreement, the President and CEO of LVMH, Bernard Arno, stated: “We are happy to have the opportunity to welcome Tiffany, a company with an unparalleled tradition and a unique position in the world’s jewelry industry in the LVMH family.
We have enormous respect and admiration for Tiffany and intend to develop this “diamond” with the same dedication and commitment we show for each of our houses.