We Belong Together, Prada reviews Versace for potential acquisition

Prada (OTC: PRDSY) SpA, the Milan-based luxury fashion company, is reportedly considering a bid for fellow Italian fashion brand, Versace, which is currently under the ownership of Capri Holdings (NYSE: CPRI) Ltd, according to a Wednesday report by Bloomberg.

The company is working with advisers to assess the Versace brand, following a comprehensive review initiated after gaining access to Versace’s recent financial and sales data.

The review process is part of Prada’s evaluation for a potential bid. However, it is important to note that the review doesn’t necessarily mean that a formal offer will be made.

Prada has been a notable exception in the recent downturn experienced by the luxury sector. As it evaluates Versace, the company continues to maintain its strong position within the industry. The potential acquisition of Versace could further strengthen Prada’s portfolio, but it remains to be seen if a formal offer will be presented following the review.