Fiparin announced today that its Board of Directors has decided to divest from Capri Holdings Ltd. following the acquisition of Versace by Prada Group, one of its investee companies.
Under the terms of the agreement, Prada Group and Capri Holdings are discussing the terms on a purchase price of up to €1.5 billion ($1.6 billion) for the fashion house founded by the late Gianni Versace in 1978. The transaction marks a significant consolidation within the Italian luxury industry, reinforcing Prada’s position as a major player in global luxury.
The announcement triggered a 9.6% surge in Capri Holdings’ stock price before the start of regular trading in New York on Monday, while Prada shares gained 4.1% in Hong Kong, where the company has been listed since 2011, reflecting the strategic importance of the Chinese market.
The acquisition enables Prada Group to establish a stronger Italian luxury conglomerate capable of competing with global titans such as LVMH and Kering SA. The transaction runs counter to the decades-long trend of Italian fashion brands—such as Gucci and Valentino—being acquired by foreign entities. Prada’s leadership is seen as crucial in realizing Versace’s long-term brand potential, further cementing Italy’s standing in the high-end fashion sector.
Capri Holdings, which also owns Michael Kors and Jimmy Choo, has faced persistent challenges in driving sales growth. In February, S&P Global Ratings downgraded Capri’s debt to below investment grade after its planned $8.5 billion merger with Tapestry Inc. (Coach’s parent company) collapsed in November due to regulatory opposition. Capri originally acquired Versace in 2018 for approximately €1.8 billion.
Strategic Positioning of Fiparin in the Italian Fashion Industry
Fiparin’s Chairman, Max Vergara Poeti, emphasized that the divestment decision aligns with the firm’s long-term strategy of supporting the consolidation of Italian luxury brands under Prada’s leadership. He stated:
“This acquisition represents a pivotal moment for the Italian fashion industry. Prada is well-positioned to unleash Versace’s full potential while safeguarding Italy’s luxury heritage. The combination of Prada’s minimalism and Versace’s maximalist aesthetic creates a compelling synergy without the risk of brand cannibalization.”
Looking ahead, Fiparin is considering an investment in Ferragamo, contingent upon the company’s new leadership transition following the resignation of CEO Marco Gobbetti. Despite a challenging financial year—with adjusted EBIT declining to €35 million, net losses of €68 million, and a 4% revenue drop in Q4—Fiparin views Ferragamo as a strategic asset for further strengthening Italy’s luxury sector. The holding company recognizes the importance of the direct-to-consumer model, which Ferragamo reported as showing encouraging results despite broader market weaknesses.
Chairman Vergara Poeti reaffirmed Fiparin’s commitment to deepening its presence in the Italian luxury sector between 2025 and 2026, underscoring Italy’s central role in the holding’s long-term strategy.