Big changes are happening in the world of high fashion— and we are trying to keep up. Today (April 10), Prada announced it’s buying its longtime Italian fashion rival, Versace, in a major deal valued at about $1.4 billion. This means the iconic house known for its bold Medusa motifs, gold gaudiness, and sultry silhouettes will join the same luxury family as Prada’s edgy yet sophisticated “ugly chic” and cool-girl favorite Miu Miu.
The Versace sale includes Michael Kors and Jimmy Choo, all under Versace’s parent company Capri Holdings.
Pause for gagged reaction.
Prada snatches up Versace in a major deal for $1.4 billion
According to a press statement, Prada sees untapped potential in the 47-year-old Versace “distinctive” brand. Company execs are betting that with the right strategy, they can build on its name recognition and take it to new, contemporary, future-forward retail greatness. In other words, making more money for Versace while turning it into an even cooler, relevant cultural staple.
But Versace lovers need not to worry. Prada’s execs made it clear that Versace will keep its signature flair and “creative DNA.”
Still, some fashion insiders are side-eying the whole thing. Just before the deal was made public, Versace announced that Dario Vitale, former head of design at Miu Miu, was stepping in as creative director. (And more importantly to some, the brand said Donatella Versace was stepping down).
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Executives insist the switch had nothing to do with the Prada deal and was a personal decision. But Dario jumping from Miu Miu to Versace as Prada announces its acquisition is a little too convenient not to spark speculation. Was this all part of a larger plan? Is this a fashion power move to fuse the Miu Miu girl’s Gen Z vibe with Versace’s legendary drama? And what will Donatella’s new role as brand ambassador really look like?
It’s giving shady, fashion reality TV-like drama. And we are here for the tea if it ever comes out.
What could Prada x Vesace mean for the fashion girls?
For the fashion-obsessed, especially Black women and lovers of red carpet magic, this merger is a huge moment. Both Prada and Versace have long been favorites among Black models and celebrities.
Naomi Campbell—forever the blueprint—was one of Gianni Versace’s original model muses. The British supermodel also made history walking for Prada in the ’90s. Lupita Nyong’o gave us an unforgettable Oscars moment in custom “Nairobi blue” Prada. At the same time, Beyoncé has worn both brands, including that jaw-dropping silver Versace gown at her Renaissance film premiere. Zendaya wore both designers in one night. Attending the 2023 NAACP Image Awards, she wore a silk black and green vintage Versace haute couture dress first and a slinky white two-piece Prada formal fit later.
RELATED: Versace, Versace: Does This Fashion House Have A “Code” For Black Customers?
Halle Berry, Serena Williams, and Anok Yai have all served iconic looks. And with up-and-coming model stunners like Jourdan Dunn, Precious Lee, and Adut Akech repping both brands, there’s a powerful legacy of Black women defining these labels, making them more culturally relevant than ever.
With Prada and Versace now under one luxury umbrella, this isn’t just a business deal—it’s the potential birth of a mega-brand. For everyday fashion lovers, we may see a fresh evolution of ready-to-wear and accessories that borrow from both aesthetics while staying bold, inclusive, and high-impact.
The Prada Group is shaping up to be not just a fashion house but a culture-defining force. So whether you’re tracking runway trends, curating Pinterest boards, or watching what your favorite Black “it girl” wears next—get ready.
Fashion’s next era will be louder, sleeker, and more inclusive than ever.