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Stock impact report

Prada Completes Acquisition Of Flashy Rival Versace [Barron's]

Capri Holdings Limited Ordinary Shares (CPRI) 
Last capri holdings limited ordinary shares earnings: 2/5 06:30 am Check Earnings Report
Company Research Source: Barrons
Prada Group said in a statement that the deal with Capri Holdings, the US group which owned Versace, had "received all required regulatory clearances". Advertisement - Scroll to Continue Lorenzo Bertelli -- the son of designer Miuccia Prada and chief marketing officer -- will become executive chairman of Versace following the takeover. Versace's lustre had been waning in recent years, unlike that of the Prada Group, which is in robust health, fuelled by strong sales of its younger Miu Miu Line. Prada Chief Executive Andrea Guerra told journalists during a factory visit that Versace was "extraordinarily different from our other brands in the portfolio". The flashy label "invented fashion as we know it today", bringing it closer to popular culture, and as such "strikes a different aesthetic and appeals to a different consumer", he added. Advertisement - Scroll to Continue bur-ar/ams/jh The Barron's news department was not involved in the creation of the content above. T Show less Read more
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