Luxurious trend group Prada’s CEO Andrea Guerra has flown to New York, a supply near the matter advised Reuters, because the group is in talks to purchase Capri Holdings-owned Versace in a deal that will unite two of the largest names in Italian trend.
On his journey to the US monetary capital, Guerra is accompanied by Lorenzo Bertelli, the son of the group’s main shareholders Miuccia Prada and Patrizio Bertelli, who’s chief advertising and marketing officer, the supply added.
New York primarily based Capri Holding stated on Thursday that Donatella Versace was stepping down as foremost designer for the Versace model after virtually three a long time.
From April 1, Dario Vitale, a designer coming from Miu Miu, a smaller model throughout the Prada group, will take over Donatella Versace’s position as chief artistic officer of the Medusa head model.
The transfer may facilitate a possible acquisition of Versace by Prada, Morningstar analysts stated.
Prada and Capri Holdings declined to remark. Reuters wasn’t in a position to confirm whether or not Guerra’s journey was related to the talks with Capri Holdings a few potential Versace’s deal.
Earlier this month Prada was stated to be near a deal to purchase Versace for a value of practically 1.5 billion euros ($1.64 billion).
On Feb. 20, a supply near the matter advised Reuters that Prada had been given 4 weeks to conduct its evaluation of the monetary information of its smaller rival.
Prada has additionally been reported to be involved in shopping for Jimmy Choo, one other Capri model.
