Prada Acquires Versace in $1Billion Power Move.

In a blockbuster move shaking up the luxury world, Prada has acquired rival fashion house Versace in a deal valued at around $1 billion, uniting two of Italy’s most powerful fashion legacies.

The takeover signals Prada’s biggest expansion play to date, strengthening its position against French luxury giants like LVMH and Kering. Long known for its sharp minimalism, Prada now takes ownership of Versace’s unapologetically bold, glamour-driven aesthetic, a contrast that could redefine modern Italian luxury.

Versace will continue to operate as a distinct brand under the Prada Group, with leadership changes expected as the house enters a new growth chapter. For the industry, the deal marks not just a merger of brands, but a strategic reshaping of power in global fashion.