Prada is reportedly exploring the acquisition of Versace, with Capri Holdings considering the sale of its luxury brands, including Jimmy Choo, as it refocuses on Michael Kors. The potential deal comes ahead of Donatella Versace's contract expiration in February 2025.
Italy's iconic fashion brand Prada is reportedly considering purchasing Versace, which is being sold by Capri Holdings, a US-based global fashion luxury group.
An Italian daily Il Sole 24 Ore has reported that Capri Holdings has allegedly engaged Barclays, a global financial services provider, to explore potential buyers for its Versace and Jimmy Choo brands, while Citi is acting as advisor to Prada.
In mid-December, a fashion magazine Women’s Wear Daily reported that fashion group was working with Barclays to sell off the luxury brands as it “focuses in on the Michael Kors turnaround.” Later, it was updated that Donatella Versace's contract is due to expire in February 2025.
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Vietnamese authorities have confiscated thousands of counterfeit luxury products, including fake Rolex watches and Prada handbags, during a raid at Saigon Square Shopping Mall in Ho Chi Minh City, state media reported Friday.
Italian fashion house Prada has agreed to acquire Versace from Capri Holdings in a $1.375 billion deal, aiming to boost its presence in the global luxury market and revive the iconic but struggling brand.
Donatella Versace is to step down as the main designer for the Versace brand after almost three decades, a move that has fanned talks of a sale of the business to rival Italian fashion house Prada.
An acquisition of Versace by Italian luxury group Prada, opens new tab would create a company with a broader base that is more resistant to business cycles, but reviving the targeted brand could take years and hit short-term profits.
Iran accuses the United States of breaching a ceasefire after a commercial ship was seized in the Gulf of Oman, vowing retaliation, as Israel warns south Lebanon residents to avoid restricted areas.
The architect of the modern K-pop boom, Bang Si-hyuk, is facing arrest by South Korean police over claims he illegally gained millions in an investor fraud scheme.
Progessive Bulgaria, led by pro-Russian Eurosceptic Rumen Radev is on track to form Bulgaria’s next government, after official results showed a runaway victory for the coalition in the Balkan nation's parliamentary elections on Monday (20 April).
Pakistan is confident it can bring Iran to talks with the United States, a senior official said, citing “positive signals” from Tehran, as JD Vance is reportedly set to visit Islamabad on Tuesday for peace talks, according to Axios.
A gunman who killed seven people in a mass shooting in Kyiv on Saturday (18 April) had quarrelled with his neighbour before he opened fire on passersby, public broadcaster Suspilne cited Interior Minister Ihor Klymenko as saying on Tuesday.
Australia’s eSafety regulator has asked gaming companies, including Microsoft and Roblox, to explain how they are protecting children from sexual exploitation and radicalisation.
Florida’s Attorney General has launched a criminal probe into ChatGPT and its parent company OpenAI to investigate information the generative AI tool allegedly provided to a gunman who killed two people at Florida State University last year.
MMilitary planners from more than 30 countries are holding two-day talks in London from Wednesday to advance plans to reopen the Strait of Hormuz.
Ukraine is set to resume oil transit via the Druzhba pipeline on Wednesday, in a move Kyiv hopes will unlock a frozen €90 billion European Union aid package and ease tensions with key European partners.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 22nd of April, covering the latest developments you need to know.
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