Versace: Lorenzo Bertelli to Become Chairman

In this major deal, the largest ever undertaken by the group, officially announced on April 10, Versace will be acquired for €1.25 billion (approximately $1.4 billion). Prada has presented the acquisition as an opportunity to strengthen Italy's presence in the face of the dominant French luxury groups.

Prada's financial position is solid. In the first half of 2025, the company reported net revenues of €2.74 billion, up 9% from the same period last year, indicating, among other things, a strong investment capacity.

As for the Versace brand, acquired from Capri Holdings in April, its performance has been more mixed: in the latest results published by Capri, the iconic Italian brand showed a gap between its global reputation and its financial performance. It posted quarterly revenues of around $208 million, accompanied by a decline in sales of more than 21%; which may partly explain the purchase price deemed attractive by Prada.

According to Lorenzo Bertelli, quoted in the podcast, “the brand is much bigger than the revenue it generates.”

Bertelli, considered the optimal choice for the position of Versace president, is currently the marketing director of the Prada group, responsible for CSR and executive director. He embodies both family continuity and the company's focus on digital and sustainability. The group considers these levers to be essential to revitalizing Versace. His stated mission will likely be to preserve the company's glamorous identity while optimizing the group's industrial, commercial, and logistical strategy.

There are many challenges ahead: restoring Versace's profitability without losing its creative DNA, attracting new customers, and defending the “Made in Italy” label. For Prada, the operation is both an industrial gamble and a strategic move aimed at building a more diversified Italian luxury hub.

The coming months will show whether the house can transform the brand's potential into sustainable growth.